I opened a Wells Fargo personal LOC in April 2008 and immediately set up automatic bill pay to debit my account for $100/mo. on the 28th of every month, ahead of the payment due date. I then ignored the account, as I trusted Wells Fargo to credit the $100 to my account automatically -- that's the point of auto bill pay, you don't have to constantly monitor it!
Yesterday I opened a paper statement on the account for the first time in months. I was shocked to discover 7 late payments! How could this be? I set up auto bill pay to pay ahead of the due date after all!
After spending over an hour talking with 6 different representatives and supervisors, Wells Fargo "mercifully" granted me a credit on 3 of the late fees, all the while claiming that there was no bank error. Well, of course there was no "bank error!" It's all calculated to wring as many fees and assessments out of the "customer" as possible.
I explained the logic of the situation over and over again -- I had made good faith efforts to pay on time, auto bill pay was functioning perfectly, the payments were made on the exact same day of the month every month ... to no avail. Wells Fargo had changed the due date of the payment! I was duly notified in my paper statements, but never received any e-mail notification of what was happening, even though my payments were all electronic.
The gross loss to me was over $250, not a huge sum, but if this happened to me, it's happening to lots of people. $250 times a few thousand or tens of thousand is a lot of cash. Anyone else out there get ripped off this way? Possible class action lawsuit?
I would leave Wells Fargo in a heartbeat, but I'm sure every other large banking institution operates in the same shady, disgusting way so what's the point. I'm going down to my local branch to talk to a human being live and in person and see if I can get MY money back.
Product or Service Mentioned: Wells Fargo Banking Service.