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Forum Post: Wellsfargo and the System. - True Story

Posted 2 years ago on March 15, 2012, 2:59 a.m. EST by yetiyell (0)
This content is user submitted and not an official statement

ATM - Money Availability and Lending your banker

6 Comments

6 Comments


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[-] 1 points by owsleader1917 (7) 2 years ago

Not much to comment here, but here's what you do.

When ever you get a check, go to the bank it was issued and GET THE CASH.

Then take the CASH to your bank and DEPOSIT the cash,

If you simply deposit a check they can and will fuck you anytime THEY wish, and besides by ALWAYS getting cash for the check you always know that the funds are available.

Lastly, by grabbing the CASH you fuck the system before it fucks you. CASH is gold, and depositing CASH you'll always have immediate access to the money.

FUCK the system, ... whenever you get a check, go to the ISSUING bank and DEMAND CASH.

[-] 1 points by Gillian (1842) 2 years ago

That's not always true about cash...read my post below about what happened to me and cash. BEWARE!!!

[-] 0 points by economicallydiscardedcitizen (761) 2 years ago

I always cash the check and then deposit the money!

[-] 0 points by yetiyell (0) 2 years ago

It all started 2 days ago.

i have a wellsfargo account I use to buy lunches small purchases etc and never have had a credit card. i work hard and earn a good paycheck. My work check gets deposited back home. i write checks on this account to my wellsfargo account. Having low funds 137 dollars, I deposited a check into the bank. 237 was available and 1700 was on hold tell the check cleared, so i had spent 195 dollars this weekend. Going to the ATM 3 days later, i checked the balance ; -58 dollars ; i 1800 dollar hold. i had done the same thing 20 times before; what happen (facing 90 dollars in charges) today. I taked to my banker, "the system decided your check was a risk" so we held the entire check. we cant do anything because it is an ATM. we are keeping your money on hold for a week. I showed it had already cleared my hometown bank. I asked them where my money was. Why was the Matrix involved. Doing further research i learned wellsfargo purposely misleads consumers on money availibity to soak the poor with fees. Also i found out they actually had my 1800 and were sitting on it. The are doing this to hurt the poor. Suprise Suprise time to call the omsbudsmen

[-] 1 points by Gillian (1842) 2 years ago

Be warned though and ask before you deposit CASH because even cash can be held according to their policies if they choose. I've had my share of nightmares with Wells Fargo but one of the worst and most corrupt banking practices that I've ever encountered was with BB&T. Here's what happened: I had a business account with BB&T ( checking) and I had personal savings and checking with another small locally owned bank. I had been banking with BBT for several years and was aware of their recently imposed 36 hour hold policy on checks. I thought that 36 hours was extreme and had planned to leave the bank for that reason since as a business I cannot wait for my funds to be available most of the time. However, I was purchasing a truck and wanted to pay mostly cash for it out of my personal savings since I could get a much better deal on the truck. SO, given that I knew about their hold policy on checks, I got the cash from my savings and took it to BBT to deposit. This was CASH, not a check, not a money order or cashiers check. I deposited it at 9am and then drove to the dealership to write a check for the truck a couple of hours later. 2 days later I got an overdraft notice with a 600 dollar overdraft fee for the ONE check that I wrote the dealership. I was livid and immediately went to the bank and confronted their manager who apparently had a lobotomy. He sat there like he was stoned and handed me a copy of their policy on deposits and would not refund my 600 dollars. I also asked him why 600 dollars when their other overdraft fees were 35 dollars....' oh, well, it was such a large deposit that we must charge 10 percent". hmmm where was that rule? I asked him if it took more energy from the teller to deposit 6,000 vs any other amount? Does it require more paperwork? perhaps it was that additional digit that they had to press on the adding machine? It was obvious that they were just conveniently creating new rules. I was so angry and even cursing. I know the entire bank heard me. I closed my account that day.
I also argued that the bank had approved my check and paid it that same day even though I only had a 1500 dollar overdraft limit on my business checking. I told them that IF the funds were not available, they should have never approved that check given that it far exceeded my overdraft limit. Based on what they did, I should have sued them for compromising my security and account by allowing such a large check to clear that day ( the same day that I deposited the money) even though it far exceeded my overdraft limit. What if it had been a crook? Ah, but you see, they already knew that I personally had deposited the cash and that the check was good because the funds were there in my account. They were punishing me for depositing money and then taking it right back out. And this America's favorite Hometown Bank? Hardly. It's really hard to believe that a business can operate so spinelessly and that their employees can sit there and look you in the eye and make excuses. I even asked the manager how he can come to work each day, treat people that way and then go home to his children who think he's someone to be proud of. He didn't say a word and just kept spouting off those stupid rules like a stepford banker.

[-] -1 points by economicallydiscardedcitizen (761) 2 years ago

Scary true story: in the 1990's Bank of America 'stole' $5K from the accounts of two brothers I know in Contra Costa County, California. Fortunately each kept all deposit receipts including duplicate copies of checks written against their accounts(this is why you want checks with the duplication feature so that when u write a check at least u have a carbon copy as proof) Long story short, they got the law involved, got their money back and no longer bank at BofA.