OK, Wells Fargo isn’t really stealing my money. At least, I doubt it. Jen ahd I have had a joint checking account with the bank since 2005. And in that time, we’ve had several issues with overdrafts. I believe I do a pretty good job of keeping the checkbook balanced. And each time we’ve been hit with overdrafts, I’ve implemented new methods to help keep track of the account balance. And still, every couple months, it happens again. The most recent round of overdrafts happened yesterday. Fortunately, we have overdraft protection on the account, thanks to the Wells Fargo credit account I opened for this very reason. (Though there’s probably still some kind of fee involved, it’ll just be connected to the credit account instead of the checking account.) As it stands, we have no money in the bank. This is especially discouraging, as our finances had been riding high lately due to cash infusions from several sources. But now we’re back to zero. This has happened more times with Wells Fargo than any other bank I’ve ever used. I’m not one of these corporate-conspiracy cranks. I really don’t think Wells Fargo is taking my money. But something is off, and I’m not sure what to do. I suppose that one of the bank’s employees could try and track down the error. Most likely, it was caused by an ATM transaction I missed. The difference between what I was showing in the checkbook and the amount of money that was overdrafted would equal about the same as a typical ATM withdrawal. But I’d really like to just start all over again with a new accoun. I’ve been considering opening an account with a local bank. Sure, the local bank may not have the world-spanning reach of Wells Fargo. But you can e-mail the bank’s president right from the website. That’s pretty cool. And I’ve noticed that throughout my banking history, the larger the size of the bank, the more problems I’ve had. Of course, switching banks comes with its own set of hassles. Between me and Jen, we’d have to get three direct deposits changed, and that’s likely to take weeks. Still, I think now’s the time. Before Wells Fargo has a chance to take any more of my money.
July 23, 2008
That’s scary to think about an overdraft. Maybe it could have ATM withdrawal fees? Combined with overdraft fees? Hopefully it won’t happen again with the new bank you choose.
After discussing it over with Jen, we’re probably not changing banks after all. I’m just gonna have to pay super extra close attention to the checkbook, and the next time this happens, I’ll go into the bank and try to figure out what happened.
I had that problem constantly with Wells Fargo. I finally went to Washington Mutual and STILL had that problem. Even when someone made fraudulent charges on my account they refused to refund it. I’ve been with Bank of America now for three years and am really happy with them. Plus when you do travel out of state they are everywhere!
RSS feed for comments on this post. TrackBack URI
Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>