Even if you have signed up for overdraft protection AND you are linked to an account that can cover the overdraft in the event of a mistake-- Wells Fargo is STILL REQUIRING YOU TO PAY A FEE OF $35 per overdraft up to FOUR OVERDRAFTS PER DAY. You could be charged $140 per day EVEN when you signed up for the service THEY say will protect you!
The inherent benefit to signing up for overdraft protection, especially when linked to an account that can cover the overdraft is NOT be charged at all. What, then is the point of having the overdraft protection?
It is tough enough out there in this economy. It is way out of line to be charging these outrageous fees. The Wells Fargo commericals and even the "integrity" statement listed by the CEO's picture on the website ( https://www.wellsfargo.com/about/corporate/corporate_governance) leads us to believe that the banks are really trying to help with the very issues for which they have been most culpable.
This high fee practice erodes the public trust and faith, let alone penalizes people who rely on the very programs set up to protect us. It is a violation of the worst order and only contrbutes more toward corporate greed .
Wells Fargo has consistently stepped over the line--let's put them BACK IN LINE, or go elsewhere!
Wells Fargo is now charging outrageous overdraft fees, EVEN when the customer has signed up for the overdraft protection service, that THEY are marketing to protect you!!
Even if your overdraft protection service is linked to an account that can cover the overdraft, THEY WILL STILL CHARGE YOU A FEE OF $35 per overdraft up to FOUR OVERDRAFTS PER DAY. So, for an innocent mistake, you could be charged $140 per day EVEN when covered by the service THEY say will protect you!
The inherent benefit to signing up for overdraft protection, especially when linked to an account that can cover the overdraft is NOT to be charged AT ALL, since there is no loss to the bank. What, then is the point of having the overdraft protection at all?
These fees are onerous, and overstep the bounds of decency.
I respectfully ask Wells Fargo to drop these fees, and ask anyone signing this petition to request the same, or change banks for more reasonable and consumer friendly policies.
On the Wells Fargo Corporate Governance webpage, the CEO, John Stumpf has listed the following quote by his picture...
“Integrity is not a commodity. It’s the most rare and precious of personal attributes. It is the core of a person’s — and a company’s — reputation.”
- John Stumpf, Chairman and CEO
Please tell Mr. Stumpf and the rest of the Wells Fargo decision makers that this is NOT a display of intergrity, decency or even rational thought.
Drop these fees or risk losing a loyal banking base.