Problems caused by my funds being low

Wells Fargo is charging me for XXXX overdraft fees instead of just XXXX. On Friday, XXXX/XXXX/16 at approximately XXXX, I had approximately {$1000.00} in my checking account. at around XXXX when I checked again, XXXX items had come in electronically. XXXX was for {$20.00} XXXX return fee, and XXXX was for check # XXXX for {$36.00}. That left me with a balance of approximately {$990.00}. When I checked my account again at XXXX, the balance was still at {$990.00}. I checked my account again at approximately XXXX check # XXXX came in for {$1400.00}. That would cause my account to overdraw and leave me overdrawn for {$430.00}.
I made a deposit on Monday Morning for {$340.00} which should have left me overdrawn for about {$92.00}, Well Fargo charged me for XXXX overdraft fees of {$35.00} each which left my account overdrawn for {$190.00}. I should only have been charge for XXXX overdraft fee for the check that came in for {$1400.00}, not for the XXXX items of {$20.00} and {$36.00} which came in in the morning when I had {$1000.00} in my account,!!
Wells Fargo does this all the time, and it is called ” re-ordering ” meaning how they process things for payment so they can maximize overdraft fees!!!!! You could also look at this case as a ” high to low ” checking incident. I want to know how a bank can charge you XXXX overdraft fees, when clearly the XXXX electronic items that came in in the morning were covered by the funds in my checking account!!
I am willing to pay the {$35.00} fee for the check number XXXX for {$1400.00} which caused the account to overdraw, but not for the other XXXX. I want {$70.00} returned to my account.
I wrote to Wells Fargo about this, and got the usual explanations about how they process transactions, which makes no sense ( except to them )!
They have now passed my case to their executive office.
Why are they allowed to do this?
I believe that they were sued about this, yet it continues!!
Why are they allowed to charge fees of {$35.00} for overdraft, when it clearly does not cost that much!!!
I am grateful to them for covering my checks ( most of the time ), and I am willing to pay the fees for that, as I have in the past, but I am not going to pay fees to cover items that I had money in my account for at the time they were presented. That is criminal. I do not know how they can do this, and have been allowed to do it.
I am a XXXX XXXX XXXX woman who works XXXX jobs to support myself and my XXXX XXXX XXXX XXXX mother. I can not afford these fees. I am paying out of my own pocket at least {$200.00} per week for a caregiver for my mom while I am at work.
I need this money returned to my account, and I am turning to The CFPB for help with this.
This practice needs to stop.
Thank you, XXXX XXXX

Leave a Reply