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#2Call back and talk to another agent. Be polite and nice. Different agents will often act differently, but if are rude to them, will not let you get anything. Be polite.
If that doesn't work, use social engineering. Tell them you set up overdraft protection with them 6 months ago (from the account that you transferred the $500 from) and ask why this did not cover the overdraft. They'll tell you there is none, tell them, politely, that they told you it was set up and ask them to set it up now and reverse your charges.
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#3Call back and talk to another agent. Be polite and nice. Different agents will often act differently, but if are rude to them, will not let you get anything. Be polite. If that doesn't work, use social engineering. Tell them you set up overdraft protection with them 6 months ago (from the account that you transferred the $500 from) and ask why this did not cover the overdraft. They'll tell you there is none, tell the…
As a former CSR cog, this is a great tip. Just call back. Some CSRs are dicks, some think you're a dick, and some just aren't aware of when they can apply credits.
I certainly have no love for BOA, but the one time I was in a similar situation the CSR credited half of my overdraft fees back to me as a "one time courtesy." (Pro-tip: if you're a good customer, they can give you a courtesy credit for just about anything under the sun if you're patient enough to work your way up the food chain.)
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#5Call back and talk to another agent. Be polite and nice. Different agents will often act differently, but if are rude to them, will not let you get anything. Be polite. If that doesn't work, use social engineering. Tell them you set up overdraft protection with them 6 months ago (from the account that you transferred the $500 from) and ask why this did not cover the overdraft. They'll tell you there is none, tell the…
for posterity: I like OP's way better. Eat the $245 charge assuming you can afford it, so you can call them out on their shitty behaviour.
Your bank has all your money (mine does anyway (I'm 22)) so they can treat you right or they can go fuck themselves.
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#6How was the ~800% interest rate calculated? $245 / $35.18 = 696% daily interest rate, which annually is ... well, it's incomprehensibly huge.
Anyway, overdraft fees aren't loans, they're fees, so it doesn't make a whole lot of sense to think in terms of the APR.
I will agree with this -- that sort of transaction sorting is a terribly nasty business practice.
Will any banks simply deny the charge if you don't have the funds? That's what I'd prefer.
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#7This is consistent policy across most major banks from my similar experience. The local branch where you opened the account has the power to reverse this, but the national call center does not. On the other hand, you definitely will cause a stir with this web page and I'm interested to see how that plays out.
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#8Call back and talk to another agent. Be polite and nice. Different agents will often act differently, but if are rude to them, will not let you get anything. Be polite. If that doesn't work, use social engineering. Tell them you set up overdraft protection with them 6 months ago (from the account that you transferred the $500 from) and ask why this did not cover the overdraft. They'll tell you there is none, tell the…
Sometimes that doesn't work.
I called Bank of America on the phone about something similar. They processed a credit card payment (to themselves!) which sent me slightly into the red before my paycheck on the same day. This was the second time this occurred. The first time, a decent CSR returned the fee. The second time, I was denied.
Instead of calling again for another CSR, I decided to just go to a physical bank to talk with a manager. She said that the case was "already decided" and there was nothing she could do about it. She said she would have fixed it if only I hadn't talked to a rep on the phone first.
I immediately withdrew all of my money and closed the account, thinking that maybe she'd fix things before I got through with that. Apparently, she really couldn't do anything. Now I'm with Wachovia. I had been with BofA for 10+ years before closing the account. Things are fine with Wachovia so far but I expect that, eventually, they'll end in similar fashion.
I also learned during this whole process that they'll send you an alert AFTER you go into the red but not before an automatically scheduled payment is set to go through that would put you in the red. That would have been nice since I could have delayed paying the credit card account until I was sure that the paycheck would be processed. Of course, such an easy-to-implement system would reduce the late fees they rake in. My new bank has the same set-up.
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#9This is not my site, though it well could be. If Wells doesn’t change some of this soon, they’re going to lose customers in droves. While many may argue that it can afford to lose customers who carry very low balances, those customers are also the source of their very large fee revenue. It’s the long tail - 80% of customers with a low balance paying fees to maintain accounts that pay for the technology innovation, maintenance and new products enjoyed by the 20% of customers enjoying free or low-fee accounts. Wells Fargo (like all banks) cannot afford to rely on traditional investment carry at today’s interest rates. If they drive these customers away, they’ll find themselves quickly in the same boat as all the other major banks.
Which, by the way, might not be so bad: http://moveyourmoney.info/
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#10How was the ~800% interest rate calculated? $245 / $35.18 = 696% daily interest rate, which annually is ... well, it's incomprehensibly huge. Anyway, overdraft fees aren't loans, they're fees, so it doesn't make a whole lot of sense to think in terms of the APR. I will agree with this -- that sort of transaction sorting is a terribly nasty business practice. Will any banks simply deny the charge if you don't have the…
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