Skip to main content

Of course I am sure it was legal, but from my perspective the $ was stolen. The primary purpose of this diary is for me to rant so I can relax a bit. There is not much intellectual contribution- sorry.

I have had an account with Wells Fargo for close to 20 years. I opened the first account back when it was Norwest Bank and I was a graduate student who needed the free checking for life. I kind of miss those days when I had only one checking account and the savings account my mom set up for me when I was 5.

I liked Wells Fargo service- 12 years ago we got the mortgage for our first house (and a line of credit) directly from Wells Fargo instead of a broker. And when we moved, we did the same thing for our second house.  And our current mortgage happens to be managed by them.  In total, my wife and I have had ~8-10 different accounts with them.  

Not any more.

On January 14th WF reduced the amount of our line of credit, but I was not notified until today. Based on our 2002 income, they think we have too much debt. Rather than giving us any warning, or requesting current income info, it was reduced.

During this Catch-22/Twilight Zone period of 13 days (after the 14th, but before I was told the line of credit was reduced) I transfered $ from the LOC to checking to cover upcoming bills.  The transfer went through, but was reversed the next day. I bounced 2 checks before I realized it was reversed- WF drew from my LOC to cover the checks and charge me $20 to do this. If I had known the line was reduced, I would have transfered less and not bounced checks. If my transfer was rejected, I would have transfered less and not bounced checks.

In the last week I have talked with people in the checking department, who cannot do anything about my line of credit. I talked with people in the line of credit office, who cannot even see my checking account. When I received the letter today, I got a bit crappy with someone in the LOC reinstatement office, who cannot return my $20. In banking language she agreed I was screwed and apologized. I am not going to try to get my $20 back, or reinstate our original credit limit.  I will just get more angry.

After being customers for nearly 20 years and never being late on a payment I expect to be treated better. And we will be treated better at a new, local bank.  Our checking accounts will move for now, and with time all of our accounts will move.

We are blessed to have good, stable jobs- this really is trivial. But it irritated me and now I feel a bit better.

Originally posted to flymice on Thu Jan 27, 2011 at 04:20 PM PST.

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site