Consumerism Commentary - Latest Comments in Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

Janelle Bourgeois — Tue, 10 Aug 2010 15:37:56 -0000

I agree that customers should keep track of their money and I will even allow that banks should be allowed to charge a fee when an account overdrafts. What I do not accept is that overdraft fees will often be more than 10x the value of the overdraft. For $16 in overdrafts (5 small transactions) I was charged $150. That is outrageous.

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

maalol mablol — Thu, 25 Feb 2010 05:57:48 -0000

wells fargo charge me 10 overdraft fees $350 in one day, because they made a mistake in the billpay I scheduled. But when I complainted they said it is not their fault.It has been 6 months from the time they said they will do the opt out option, But so far nothing was done about it. They are simply enjoying the middle class money.

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

Brent Bullard — Fri, 12 Feb 2010 17:55:03 -0000

Wells Fargo, while have a letter on their website stating otherwise, has yet to revise their overdraft policy.They will still charge for up 10 overdrafts no matter if they are $0.01. Once, they actually put a 60 dollar check through first, even though I had several small charges that were already pending that day, and charged me $350.00 in overdraft fees. The charges for the overdafts were for charges for small amounts under ten dollars down to $1.53.

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

John Madden — Wed, 27 Jan 2010 16:41:49 -0000

I just let my Chase checking account get overdrawn by $2.00 thinking I was safe from o/d fees after hearing about the new overdraft policies. However I was still charged a $33 overdraft fee. I called to complain about but was told there was no set date to change the overdraft policy and the old one is still in place. Looks like yet another scam by Chase to get money out of its customers. Only this time they used the media to make customers think they had a $5 cushion.

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

Barry — Sat, 16 Jan 2010 12:37:31 -0000

All the bankers should be dragged into the streets and burned. Simple as that.

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

Financial Samurai — Fri, 25 Sep 2009 01:30:32 -0000

Ahhhh, my three most despised banks all in one post. Trust me, they will find away to extort as much money out of their customers as possible!

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

Ellen / MoneyLounge — Thu, 24 Sep 2009 15:02:37 -0000

I agree. It is totally up to the customer to know how much they have in the bank when they are charging to their cards. If it is really too much to keep track of, then pay in cash - the bills are numbered and what you see in your wallet is what you can spend, no overdraft protection required.

Re: Wells Fargo Joins Bank of America and Chase With New Overdraft Policies

David@DINKS Finance — Thu, 24 Sep 2009 13:40:06 -0000

So many posts about overdraft fees recently. I said it on another blog, and I will say it again: just be intentional about keeping tabs on your account and you should be fine!