I’m not your average consumer. I’m 47, a professional, a couple degrees, etc. I bought a hot tub/spa in Spokane, WA and took advantage of a 12 mos, same as cash deal. That ended up to be assumed somehow by WellsFargo, I guess, since that’s ultimately where my payments went. It was my understanding that I would pay even payments for that time, without interest, and then the debt would be satisfied. That was not the case. Evidently, this is some sort of VISA Outdoor Solution Program.
Subsequently, I learned from WF that it was a 6 month minimum payment deal, that the payments owed were not equal installments but minimum payments, and that they had been charging me an exorbitant amount of interest since the 6 months was over. I disputed and got nowhere. The print was just as WF said but my understanding could not have been more different. The cost of the hot tub was $5,281.73 (Nov 10, 2014); I ended up paying WF $5,909.90 (Sep 1, 2015), approximately 12% in 9 mos . I would have never agreed to this had I understood. I very easily could have paid in full from day one.
Understanding that I had no legal ground and a moral ground gets you nowhere unless the other side has the same moral integrity or great customer service, I attempted to settle for something less than the full amount. When that was not successful, I gave up and wrote a check for the full amount as my account balance as of July 22. Although I was incredibly angry, frustrated, and disappointed, I moreso wanted WF to be done. Pay, close the account, move on. Lesson learned.
Just last week, I received a notice saying I had a balance to be paid at WF. $13 and change. I came unglued. I called WF and after being on hold for 40 minutes, John “nolastname” with employee# 4792 told me that I did not owe $13+ .. I owed $129.41 .. at least that’s what he thought but he could not be sure. Again, completely beside myself and furious, I explained that much to my chagrin, I had paid the balance in full on July 22. He saw the payment but said that further interest had been charged in the amount of $13 AND WF had put a hold on the interest accumulation while they reviewed my prior complaint that needed to be added back in, bringing the amount to $129.41 that was still owed .. he thought .. but couldn’t be sure. I attempted to get him to waive it but he did not have authority. He said WF did not waive interest payments and no one had a authority but after some time .. most likely to get rid of me .. he passed me to his supervisor, Cassidy “nolastname” with employee # 4786. I got nowhere there either .. except she confirmed I had to pay the $129.41 and would gladly take that payment on the phone. She would send me a letter stating that my account was paid in full and closed but could not send me a letter that she had reported same to the credit agencies. WHAT?
I am beyond dissatisfaction with this treatment. I have no idea if the treatment is legal but will look into it or at least find out if there are others similarly disgruntled. I will wage a social media campaign against WF which I have already started. I will use my YELP account and speak to ALL of my clients about how horrendous WF is. FYI, my clients happened to be all insurance entities of all shapes and sizes including the financial and investment side and statutory deposits, etc. Who knows whether or to what extent I can impact anyone’s mind regarding the horrible bank and service that is WF, but I will try my hardest. I tried to explain this to John and Cassidy .. that $13 or even $129 was not worth the bad will that has been created, but I got nowhere. I wanted others within WF to know as well.
Reason of review: Not as described/ advertised.
Monetary Loss: $620.
Preferred solution: Full refund.