I swiped my debit card by accident for a $2300 purchase, did not enter my pin or sign, and had the transaction voided and rung up again on another credit card. Wells Fargo held the $2300 out of my checking account for 72 business hours because of this accidental swipe for a transaction that I did not authorize.
I went to the bank and they simply told me to wait to see if the transaction would be removed or posted! (Why would I want an unauthorized transaction posted?) WF did not offer to call the merchant and clear it up. Also, I discovered after doing research that Visa requires card-issuing financial institutions to release all holds within 3 business days of the authorization request. Wells Fargo of course, did not tell me this.
They also did not tell me that this invalid "hold" could result in overdraft fees. So what saved me? Well, I did. I went to my credit union and took $2300 out of my savings and hand-delivered a money order to WF to cover THEIR invalid "hold" of MY money.
If I had not done this, and done it when I did, I would have incurred at least $300 worth of overdraft fees. If you run into an electronic processing problem with WF, be assured, you will have to save yourself because they won't be offering any assistance, much less basic info. It is absurd that a customer of 18 years in good standing had to jump through hoops and was unable to access to funds for 3 days because an accidental card swipe. Surely, this is not an unusual type of mistake.
Wells Fargo gets an "F" for effort from me.
Product or Service Mentioned: Wells Fargo Checking Account.
Monetary Loss: $2300.
Location: Petaluma, California