Let's talk about Wells Fargo

[fields]

I have noticed non-material account balance irregularities for the past few years, every 3 months or so.  It's never been more than $5 and I figured it was just a rounding issue on my end.

Given the news that broke this week, now I'm concerned money was being skimmed out of my account.

Question is - can I just ask the bank to do a reconciliation of my accounts since they've been opened?  Is this something that banks do or will do if I request it?  Do I even trust them to do this?

ETA: We have a lot of accounts with them that are savings based...which I never look at.  I've only noticed the irregularities on my checking account because I balance it twice a month.  Ugh.

[madringal]

You would see unauthorized withdrawals from your account. They can't just inflate your Target and gas station purchases. Go through your bank statements and look for withdraws (specifically ones made with a check or withdrawal slip) that might be suspicious.

[fields]

It's literally thousands of transactions. Would the bank do this for me if I requested it, in light of the fact there was a ton of internal fraud?

[madringal]

Sept 9, 2016 16:52:06 GMT -5 fields said:

It's literally thousands of transactions. Would the bank do this for me if I requested it, in light of the fact there was a ton of internal fraud?

You could ask a branch manager. But, honestly, unless you have reason to believe you were targeted, I wouldn't. 

[letsgetweird]

If money was being taken, you would see it in your account history or statements.

I think you should do your own audit to be sure.

[sofamonkey]

Even if they would, why would you trust them with this? Even if they do it, you should do your own to verify.

[themoneytree]

These fuckers are in the process of ruining my house sale.

They are incompetent, imbeciles and I'm not at all surprised to hear of these latest shenanigans. I hate Wells Fargo with a deep loathing right now. A deep, deep loathing.

[madringal]

Sept 9, 2016 19:26:39 GMT -5 themoneytree said:

These fuckers are in the process of ruining my house sale.

They are incompetent, imbeciles and I'm not at all surprised to hear of these latest shenanigans. I hate Wells Fargo with a deep loathing right now. A deep, deep loathing.

Yikes! I spent 11 years in management at Chase.  So I am used to bank hate.  I am also not at all surprised to hear about the crazy stuff going on to hit sales targets.  There was some pretty shady stuff the first few years I worked there all in the name of hitting sales goals. There are always the branches and employees who's numbers are WAY higher than anyone else and you just know they are cheating somehow.  But no one does anything about it because, $$. 

Chase did take away an incentive for bankers to open additional bank accounts for customers.  There was A LOT less convincing customers that they needed 2, 3, 4 checking accounts once bankers didn't get paid on them anymore.

[angelaa73]

If it's thousands of transactions and less than $60 / year I would let it go. I mean, they aren't gonna do jack shit and you aren't gonna spend $1000 in man hours trying to find $5 right?

[TR]

My WF checking account deposits $1 per debit card transaction to my savings account. Could that be it? Not saying you're dumb, just looking for a logical explanation.

[SwimDeep]

whoa ... H has a WF account. Link to the article about what's going down please? I have completely missed this news, and this is definitely something we would miss.

[fields]

Sept 9, 2016 19:26:39 GMT -5 themoneytree said:

These fuckers are in the process of ruining my house sale.

They are incompetent, imbeciles and I'm not at all surprised to hear of these latest shenanigans. I hate Wells Fargo with a deep loathing right now. A deep, deep loathing.

They screwed us in the mortgage process when we bought our house as well - long story but we had to go find another underwriter at the 11th hour because of the lying sack of shit at WF.

I should have switched banks after that but I'm lazy and didn't want to deal with setting up new direct deposits, bill pay, etc.

[fields]

Sept 9, 2016 20:42:13 GMT -5 angelaa73 said:

If it's thousands of transactions and less than $60 / year I would let it go. I mean, they aren't gonna do jack shit and you aren't gonna spend $1000 in man hours trying to find $5 right?

I know. But I thought if this is a service the bank provides I am a-ok with making them use their own hours to do the recon, given how heavy the spot light is on them now.

There is no way I'm going to do it.

[fields]

Sept 9, 2016 20:56:44 GMT -5 TR said:

My WF checking account deposits $1 per debit card transaction to my savings account. Could that be it? Not saying you're dumb, just looking for a logical explanation.

No, that's a good call out. We don't have that feature on our accounts. I do for my accounts abroad but WF didn't have a "save the change" type program when we opened our accounts.

[fields]

Sept 9, 2016 21:02:13 GMT -5 SwimDeep said:

whoa ... H has a WF account. Link to the article about what's going down please? I have completely missed this news, and this is definitely something we would miss.

Workers tell Wells Fargo horror stories
money.cnn.com/2016/09/09/investing/wells-fargo-phony-accounts-culture/index.html

[SwimDeep]

Thanks, fields!

[themoneytree]

Sept 9, 2016 21:15:09 GMT -5 fields said:

Sept 9, 2016 19:26:39 GMT -5 themoneytree said:

These fuckers are in the process of ruining my house sale.

They are incompetent, imbeciles and I'm not at all surprised to hear of these latest shenanigans. I hate Wells Fargo with a deep loathing right now. A deep, deep loathing.

They screwed us in the mortgage process when we bought our house as well - long story but we had to go find another underwriter at the 11th hour because of the lying sack of shit at WF.

I should have switched banks after that but I'm lazy and didn't want to deal with setting up new direct deposits, bill pay, etc.

We got a message last night that they finally had everything they needed. Then this morning we got another message saying that the loan was being assigned another underwriter. Why? Because the stupid arse hadn't bothered to sign off on our buyer's mortgage and had gone on vacation.
This is after everyone has been scrambling to satisfy asinine last minute requirements that the underwater issued AFTER they issued the mortgage commitment like 3 weeks ago.

Thank god the new underwriter got it signed off late tonight. Which is lucky because I've been on the verge of a nervous breakdown for days and I'm running out of money with all the stuff on the new house.

[Deleted]

I don't understand how you can balance your account twice a month but not catch any unrecognized transactions, even if it's $1? Don't you save all of your transactions in quicken or something?  Or are you just reviewing the statements/transactions?

Or maybe I'm just a freak about this stuff. I would notice and catch $.10 missing ha.

To me it's not the amount, it's the point. I would pursue it relentlessly.

[my3boyz]

The thing they were doing is opening multiple accounts for people and then taking the starting deposit and transferring it to the new one. They weren't phishing money from your accounts and keeping it. It takes 25.00 to start the new accounts. Go to the bank and ask for a printout of all of your accounts. If there's one you don't recognize, look into it further.

And no, banks don't audit your account line by line, that's what your bank statement is for.

[boxertdog]

Sept 9, 2016 19:26:39 GMT -5 themoneytree said:

These fuckers are in the process of ruining my house sale.

They are incompetent, imbeciles and I'm not at all surprised to hear of these latest shenanigans. I hate Wells Fargo with a deep loathing right now. A deep, deep loathing.

I also loathe Wells Fargo from the way they treated us during the recession. I would NEVER do business with them again. It's been 8 years. When we bought a house I made sure WF could not be our lender. Fuck those assholes.

[sweetbrier]

Fuck Wells Fargo. I cancelled my account 7 or 8 years ago because they were shady and switched to a credit union. I don't even remember what exactly they did, but I will never use another bank. My credit union has been amazing.