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At My Bank, NSF = Non-Sufficient Friendliness - Comments

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RE: WELLS FARGO'S NSF FEE POLICY

This is in reference to the Bank Manager, "who listens to their customers" and who states, "It is [the customers] fault...for the NSF fees." I am a small business owner of two businesses, one a construction company and the other a boutique.

I have a Merchant Account with a credit card processing company (not Wells Fargo) of which my customers may run their credit card - for merchandise in my boutique. Again, I am a small business owner. I am not making millions of dollars, in this economy, but just getting by day to day like everyone else - to pay my bills.

I recently had a customer - and this has happened to me a few times - tell their credit card company that they did not use their card in my establishment. So, without warning the credit card company removes the disputed $616.00 from my Wells Fargo bank account. I then received - and this always happens on the day they remove the funds - a notice from the credit card company, informing of their removal of funds from my bank account. See, the credit card company will remove funds, then have me prove my case. In their letters they request the actual invoice, the shipping address, the billing address, and their signature. All, of which I submit.

Due to this recent removal of $616.00 - it created over $280.00 in NSF fees..now I am out $896.00. Due to my proving my case it will now take 7 to 10 business days for the credit card company to deposit back into my account the $616.00. Now, the $280.00 in NSF fees from Wells fargo, well, that may not happen. The incident like this before....cost me $760.00 in NSF fees from Wells Fargo. This "Bank Manager" who posted on this forum, was not my fault.

One of my business offers online shopping. I deal with those incredible people who will purchase and will attempt to say they never received their product, or those who state they never made the purchase. I get slammed for the amount they are disputing. However, I win my cases showing proof of every delivery, or sale.


This is my first problem with Wells Fargo. They only reimbursed me on the previous situations for half of the NSF fees. They state, that "they can only refund all the NSF fees, if it is a bank error". Of the $760.00 in NSF fees they took from me a few months ago, Wells Fargo only credited me half. Due to this recent situation I am trying to get my NSF fees back from Wells Fargo and have yet, to get anywhere with them.

This is my second problem with Wells Fargo. When my account is in the negative during these situations, Wells Fargo continues to allow transactions of which transpired previous to my knowledge of the removal of credit card funds - to come through thus, Wells Fargo making a profit of $35.00 a transaction.

I say, that Wells Fargo needs to quit ripping their hard working customers off!

Is it policy for them to bypass a $9.00 check and a $15.20 check posting in favor of a $151.00, all incoming on the same date, to collect more NSF fees? Regardless, 2 of those checks would have cleared with my balance being $42.53. Which would have caused only 3 NSF’s instead of 5. I have not paid attention to this fact in the past, but will be reviewing these. I understand that banking is a business, however posting the largest check first, is not benefiting the customer, it benefits the bank. Posting the largest debts first is clearly in the best interest of the bank and not its customers. Obviously, if this is policy, it should be reviewed, yet, it would mean less money for the bank and more effort put forth on the customers behalf.

Out of courtesy, I assumed that my bank would account for this, software providing. I am aware that it is a courtesy, as well for the bank to cover my checks and not return them when I am running close on funds. I appreciate this courtesy, however, I do believe that the bank is taking advantage of this service. and its customers!

Thomas Jefferson said in 1802:
'I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered.'

I have my car loan with Wells Fargo Dealer Services (who just took over the account from another company - Wachovia - about three or four months ago). Last month, I paid my last payment on the loan, paying the amount that Wells Fargo said was the account balance. This month, I got a bill for $3.62. I called to ask why I was being billed, and was told it was because my account interest accrued daily. Since I had paid the amount due on May 28, they were going to continue to charge me interest for every day from the time they printed their bill they sent to me, till they got my payment, which was June 8. So I told the woman I was speaking to that this means that I would NEVER be able to pay off the loan, since interest would continue to accrue no matter what they told me I should pay. She said, "Oh, no, you should have told us that you were paying off the loan, and we would have closed everything out." So, apparently, though there is nothing, ANYWHERE, that says that the customer has to notify THEM that the account was fully paid off, and even though they were receiving the total amount they had told me was due, their system apparently can't tell that the account is being paid off.

Fortunately, the customer service rep I spoke with agreed to cancel the $3.62 (which was actually more than that, of course, since further interest had accrued since they had printed that last bill), and would be sending me my registration documents.

We'll see if that actually happens, or will I get another bill next month, plus a delinquent notice for not paying the $3.62.

I worked for a law firm. In January 2010 -- the third anniversary of my employment there -- an M&I employee began telephoning the law office concerning a debt owed by one of our employees. The M&I employee disclosed to me that he was calling concerning a loan to our employee's business. I explained to the M&I employee that I was not employed by our employee's business, and that I should not have been made privy to this loan information. Nonetheless, I told the M&I employee that I would make sure that our employee received the message.

Apparently, our employee did not respond to M&I.

Albert Einstein once defined "insanity" as "doing the same thing over and over again and expecting different results." Nonetheless, the M&I employee continued to call every week at least once a week to complain that he was getting no response from our employee. Due to the nature of our employee's position and his other business, he was always out of the office when the M&I employee called.

On March 9, 2010, the M&I employee called yet again, this time disclosing that our employee had defaulted on his loan. I finally decided that I had had enough. I sent an online form via M&I corporation's website complaining that its employee was calling repeatedly and disclosing confidential financial information. However, I never received a response.

I admit that I called the M&I employee a few childish names in my complaint, but I said nothing profane, and nothing threatening.

Nevertheless, on March 17, 2010 -- more than a week after my complaint -- M&I's security department contacted my employer and reported my complaint as a "security threat."

As a result of M&I's outstanding customer service, my employer overreacted, and I lost my job that day.

Mostly, I am happy with my banks. I started out with "Slovenska Sporitelna", as that was what my parents used, when I was 15 I think. As I moved to Prague, in neighbouring country, for university, I found it logical to have my account in "Ceska Sporitelna", as they are both Erste Group members, plus the bank has a branch in the actual building of my school, another in the building just next to school, and one 5 minutes by bus from my dorms. And ATMs at every single metro station. I like their service, too. Could be that staff in school is extra courteous to students as we can be big money later, most students will probably want a mortgage or so within some two, three years of graduation...

One of the few not good experiences I had with banks, not downright bad though, was a very incompetent teller at Tatra banka. The girl kept trying to convince me, that if I had (say) 5% p.a. interest on a savings account, I would end up with 1100EUR after two years, then 1200EUR after four and so on. When I objected to that, she just told me that I could obviously not count and that it was the way it is calculated. Riiight. Needless to say, I am saving my money elsewhere.

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