Consumer complaint received 2025-01-08 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Money was taken from your account on the wrong day or for the wrong amount
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
Subject : Unjust Overdraft Fee Despite Resolving Negative Balance Before Grace Period Description of the Issue : On XX/XX/XXXX, a transaction of {$2100.00} was processed from my Wells Fargo checking account ( account ending in XXXX ). At the time, the full amount was not available in my account, resulting in a negative balance of {$360.00}. 

To address this, I deposited {$380.00} into my account on XX/XX/XXXX, at XXXXXXXX XXXX  which cleared the negative balance and left a positive balance of approximately {$17.00}. I received an email from Wells Fargo confirming that I had until XX/XX/XXXX, at XXXX XXXX  to resolve the negative balance to avoid a {$35.00} overdraft fee. Since my account was brought to a positive balance well before the grace period ended, I should not have been charged this fee. 

Despite this, I was charged the {$35.00} overdraft fee on XX/XX/XXXX, even though my account had a positive balance before the deadline. When I contacted Wells Fargo about this issue, they claimed that the fee was due to pending transactions ( e.g., XXXX purchases ). However, these transactions were already reflected in my available balance at the time, meaning the explanation they provided does not justify the fee. 

This is not the first time Wells Fargo has charged unjust overdraft fees on my account. This demonstrates that they are employing deceptive and manipulative banking practices to maximize overdraft fees. Wells Fargo has a history of class-action lawsuits for these same practices, most notably in XXXX, when they were ordered to pay {$200.00} XXXX for manipulating transaction postings to maximize overdraft fees. The current situation reflects that Wells Fargo has refused to comply with fair banking practices and continues to use the same tricky and predatory practices that led to legal action in the past. 

It is clear that Wells Fargo is exploiting its customers by reintroducing these manipulative practices, which were previously deemed unlawful. This is a systemic issue that not only affects me but also likely affects many other Wells Fargo customers. 

Timeline of Events : XXXX. XX/XX/XXXX : A transaction of {$2100.00} caused a negative balance of {$360.00}. 
XXXX. XX/XX/XXXX : A deposit of {$380.00} was made at XXXXXXXX XXXX, bringing my balance to a positive {$17.00}. 
XXXX. XX/XX/XXXX : I received an email stating that I would incur a {$35.00} overdraft fee if the negative balance was not resolved by XXXXXXXX XXXX that day. 
Despite my account being positive well before the deadline, I was charged the {$35.00} fee. 
XXXX. XXXX XXXX, XXXX : Wells Fargo representatives explained the fee was due to pending transactions, but their reasoning is flawed as the pending transactions were already deducted from my available balance. 

Why This is Unjust : The email from Wells Fargo clearly states that I would avoid the overdraft fee if my account balance was positive by the grace period deadline of XXXX XXXX on XX/XX/XXXX. I met this requirement. 
Pending transactions, such as XXXX, were already reflected in the available balance when I resolved the negative balance. Wells Fargos explanation is therefore incorrect and misleading.

Wells Fargos behavior demonstrates a refusal to comply with fair banking practices and echoes the same issues from their XXXX class-action lawsuit, where they were penalized for manipulating transaction postings to maximize overdraft fees. 

This fee appears to be the result of a system error or deliberate manipulation, and it violates the terms outlined in their communication. 

Requested Resolution : 1. Immediate Refund : Refund the {$35.00} overdraft fee charged to my account on XX/XX/XXXX. 
2. Investigation into Practices : Investigate Wells Fargos handling of overdraft fees to ensure this does not happen to other customers.

3. Assurance of Compliance : Ensure Wells Fargo adheres to its stated overdraft fee policies and grace period terms moving forward.

Supporting Evidence : Transaction records showing the {$2100.00} debit, the {$380.00} deposit, and my positive balance on XX/XX/XXXX. 
Wells Fargos email detailing the grace period terms and conditions and the amount it refers to.

Screenshots or screen recordings of account activity and balances before and after the grace period. 
Historical information about Wells Fargos XXXX class-action lawsuit and their history of similar unfair practices.

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