Wells Fargo Magic Withdrawals-Excessive Overdraft Fees Texas

I find it peculiar that any replies seem to rally for the large banking institution (such as Wells Fargo) and include my "quotes" as well.  However these same "employees" did not quote statement regarding Class Action suit payout given to customers for utilizing the same underhanded banking tactics as mentioned in original rant post. 

Feed me the "this is the time/day the transaction posted" speech whenever it's deemed as necessary- It does happen!  Wells Fargo and other large banks are changing tranactions' accurate date/time post, as well as, amounts from largest-smallest to charge their customers excessive fees!!!!

However, I do keep meticulous records of my account balances-by phone, written, and online.

- YOU can not keep meticulous records by-phone or online because that information comes from the bank and they only know what has been submited.  YOU do not keep meticulous written records because if you did you would not feel the need to keep checking your balances several times a day..and here is why.

If in your register you have a balance of $100 and you have 1 check for $20 outstanding and 3 Debit transactions for a total of $65. If you kept meticulous records and know to not spend more than you have available you would know the answer to the question if you had enough to purchase another $20 item.  The answer would be NO.  Checking your on-line balance several times a day will not change that.  Well that is unless you would check on-line is to see if the bank received the items.  Where if they don't show the check as received you may want to "float" the funds hoping to get a deposit back into the account before the check comes in.

In the rapid, online, cyber-world we now live in, what is the point of a conglomerate banking institution offering online banking access, if it is not implied as current information anyway?

- Because it is a great tool when used properly.  That is to do things such as verify deposits, look for fraudlent transactions, and yes to verify purchases have been posted.  It is current information..but it is current as of the time the bank has receivied it.  But remember..there are times when the bank may not have recived a transaction for a period of time.  So if you read the terms and even ask anyone at the bank they will outright tell you that on-line banking can not be guaranteed to be 100% accurate 100% of the time showing because as stated before there are many factors out of their control.  Just going back to the check example.  A bank does not know you wrote a check until they receive that check, and they may not receive that check for days or weeks after you wrote it.  That all depends on when the person you wrote it to decides to cash it.  Another example is for things such as debit card purchases there are times when a merchant may be "off-line" and they don't actually submit their debits until the end of the day or even a couple days later.

If you go on your theory that banks do this to make money.  Do you really think that any other banks would be any different?  After all I don't see the name charity in their name.  So by your theory if the banks are this "evil" wouldn't it not matter what bank you go to?  So if you think that just because the other banks are on-line banks that they will somehow magically be more accurate with their on-line balances...you are going to be in for a rude awakening.  If you think that these on-line banks will post things any differently than "traditional" banks you will be in for a bit of a shock. 

Please note, I do not represent any financial institution, as my wife and I have had to discuss this situation at great lengths...

After extensively researching....I've concluded, I rarely physically visit Wells Fargo locations, as bank hours rarely coincide with my work schedule anyway...I hope to conduct business with more progressive, online banking institutions, such as Ally or ING.

I consider myself stuck between old and new-as technology goes, but I truly detest the feeling of being taken advantaged of by my own bank-especially after a lengthy week of overtime hours...

I'm sure they're in business to make money, but at least it's more in 21st century than others... No need for excessive fees at customer expense :(

Hope this info helps the stressed-out working man in future. 

First off, I would like to thank anyone who responds with sincere guidance or concern.

However, I do keep meticulous records of my account balances-by phone, written, and online.

Recent class-action suit payouts from Wells Fargo, Bank of America, and other large banking institutions, has further led me to increase my awareness of personal banking education-almost to a point of excessive paranoia! Hence the reason for checking balance throughout the day, prior to making a payment.

In the rapid, online, cyber-world we now live in, what is the point of a conglomerate banking institution offering online banking access, if it is not implied as current information anyway?!

Eureka! Oh, I know why- to make money by charging fees and changing transactions while holding true to banking hours & business days!
Thank you so much for helping me understand.... :/

 If you really don't want to throw money away on NSF fees then you would start acting like an adult and take responsibilty over your accounts.   Oh and how do I know you are not.  Because it is very obivous you do not keep a written register.

Now, you have not left enough detail to explain exactly what happened.  But I can guarantee you that the "evil" bank is not just randomly changing dates to try and get NSF fees.  I can also guarantee you that if you don't change your ways, you will have the same issues at your next bank(and your bank after that).  So just a few general things.

On-Line bankiing was never meant to be the sole method of Account Management.  Because it can not be 100% accurate, as it only knows what was reported to the bank.  Due to dozens of factors outside of the control of the bank, it could be several days before a transaction shows up at your bank.  But you know what does..your check register because you would have written down the transaction when you made it and deducted it from your available balance. 

As for the dates, realize that banks do not post transactions on weekends, holidays.  So anything that comes in after their cut-off time is posted the next business day.  So it is possible that you did see the date as the 6th but because it wasn't updated.  When the bank posted the transaction it then fixed it to the real date. 

Seems a bank can choose to deposit or withdraw first at their leisure, in what order that suits them at the expense of customers.

- Actuall that is incorrect.  The posting order is specified in your account terms, it will be the same way at their time.

But again the fact is that posting order does NOT matter as long as you don't spend more than you have available.  Which is why a register is a great thing. 

Oh and just as a hint, since it seems as if you have zero idea what you actually have outstanding in your account.  You better not use your acccount or take any money out for a couple of weeks to make sure everything has "cleared".   Because if you happen to "forget" about a transaction and close the account they bank still has the option to pay it, and come after you for the money as well as the associated overdraft fees..Oh and this is ANY bank.

Do you keep an accurate, up to date check register?...I didn't think so.

Did you check your balance and transactions online or by phone?  Thought so.

When you check online, you are not getting an accurate, for you, look at your true balance.

A check register would tell you that you DON'T have the funds available.  Go to the bank and ask them for help in doing this and explain it to you.

The next bank you move to, and the one after that, will end up with the same result.  If you don't want to do any of this, I would like to thank you on behalf of those of us who do, YOU keep our fees W-A-Y lower.

The transactions were not purchases, but auto-withdrawals to be debited on 1/6.  Seems a bank can choose to deposit or withdraw first at their leisure, in what order that suits them at the expense of customers. 

As I stated, the transaction date changed online-in plain sight- within the same day (a few hours or so) by Wells Fargo to make money from their own customers.  Thanks for your help, but I do not like giving $140 of my hard-earned money away, when I have bills to pay and a family to feed :/

 You are confused. Yes on MONDAY its going to show your transactions. AS 1/3/14 was a Friday, and banks are closed on the weekends, the first BUSINESS DAY that could be applied WOULD be 1/6/14. They DO NOT just lump it all together. If you had no money on Friday, then it wouldnt matter WHEN you made your deposits. WHEN you made your purchases there wasnt enough to cover them. This is NOT the banks fault. This would be YOUR fault. Even if you made a deposit 2 mins AFTER your purchase it would STILL be a NSF.

Start keeping a check register. Its a great way to ensure a real time balance. Banks count on YOU being lazy and NOT keeping a check register. THEY expect that your ignorance of both your ACTUAL balance and HOW banking really works is going to cause NSF. Stop giving your money away.