Consumer complaint received 2025-04-18 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem making or receiving payments
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
b'I have a checking account and a savingd account with Wells Fargo Bank.  I regularly make instant transfers between the two. My rent is due each month on the XXXX. Since my tenancy began, I have made rent payments through my landlord\'s online portal from either my Wells Fargo checking or savings account.  On XXXX XXXX  before initiating my rent payment to be deducted from my checking account, I transferred XXXXXXXX  from my savings account  to my checking account to cover the ACH debit for rent.  My checking account available balance after the XXXX transfer from savings was XXXX XXXX XXXX  was remaining in my savings account.  My rent payment was made on SaturdayXXXX XXXX XXXX XXXX  in the amount of XXXX  I immediately got confirmation from my landlord via email.  On XXXX XXXX I got an email from Wells Fargo stating "Your Wells Fargo account balance is XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, and you can avoid overdraft fees using the Extra Day Grace Period feature.\nNote\nMove money to avoid overdraft fees here"\nAccording to Wells Fargo\'s Deposit Account Agreement & their Discretionary Overdraft policy: Wells Fargo may approve ACH payments into overdraft even without overdraft protection, as recurring ACH transactions (e.g., utilities, subscriptions) are covered under their discretionary overdraft policXXXX: If approved, your account balance will go negative, and youll incur a $XXXX  overdraft fee per item (up to 3  fees/day)[^1][^5].\n\nThis meant my rent payment had posted and I needed to transfer funds oXXXX XXXX  from my savings to bring my account current.   i received a 2nd email from Wells Fargo on XXXX XXXX XXXX XXXX XXXX,Your Wells Fargo stating XXXX had an insufficient funds transaction balance of $0.00 on XXXX, with a payment of XXXX to XXXX XXXX XXXX XXXX XXXX, and you may be charged fees by the payee for returned transactions. " \n Now, My landlord has charged me XXXXXXXX  in additional fees and locked me out of their payment portal making me pay with certified funds at their office for the remainder of my lease. Office is not open on the weekends so I will have to take off work and drive XXXX XXXX to make rent payment which isn\'t at all feasible.  Please note:  no record of the transaction shows on bank statement at all. I am reporting the missing transaction and improper disclosures.\nThis violates Regulation CC 12 CFR 229\nBottom line:Wells Fargo can approve an ACH payment into overdraft (with a XXXX fee) but cannot return the same transaction as uncollected unless the merchant reverses it. If the ACH was both approved and returned, escalate to the banks dispute team.  They are also in violation of UDAAP for omitting critical transactions deemed unfair or deceptive.  Please bring them into compliance\nApproval First: If Wells Fargo initially approves the ACH payment (creating a negative balance), it cannot later return it as uncollected unless the merchant reverses itXXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation