Internet's first get-out-of-debt community - 123,000 members

guest · Posted: Tue Mar 20, 2007 12:02 pm Subject: Yes!! I found a way!

okay, so it is lying, but I called wells fargo and said I wanted to close my account to stop ach withdrawals from payday loan companies. they said even if it is closed they cannot stop the ach's because I agreed to it.

So later on, I called again and told some different rep that my purse was stolen and want to close my account. He said that all activity, paper checks, electronic checks and ach's would be returned. he is sorry that this happened to me.

Now that was easy wasn't it???? apparently if you say you lost your stuff or it was stolen, they have more mercy?????

Posted: Tue Mar 20, 2007 12:08 pm Subject:

No, that is exactly what I did with Wells Fargo, except I actually lost my purse. They then forced back open the account when the ACH transactions went through. Told me that even though my purse was stolen it didn't change the fact that I had authorized these companies to debit the account.

You may get lucky and that may work, but WF is one of the worst one's with this sort of thing.

guest · Posted: Tue Mar 20, 2007 12:18 pm Subject: oh shoot

well if I send them or fax a latter revoking authorization, will they reverse the charges if I show them the letter?

Posted: Tue Mar 20, 2007 12:18 pm Subject:

I just flat out closed my acct. and the payday lenders that tried to debit were just told that the acct. was closed. The bank didn't try to re-open it. Closing it is worth a try, I suppose.

guest · Posted: Tue Mar 20, 2007 12:27 pm Subject: okay, just got off the phone with wf

they said only if the ach is scheduled to go through within a day or two of the closing, will they re-open the account. Since mine aren't until next week, it should be fine.....whew!

Posted: Tue Mar 20, 2007 12:32 pm Subject:

It depends on the bank what they will do.

Some banks honor a closed account, while others will force it open. WF will force it open. I had a terrible time dealing with them, and I know the ins and outs of banks. I'm not saying things won't work for you, but that's the exact same situation I was in. I was told since my purse was stolen nothing else would go through. They forced the account back open about 2 weeks later and it eventually went to -$800. All in fees since I didn't have overdraft protection. They credited the first batch of overdraft charge, but they still wouldn't reclose the account since it has to have a positive balance for at least a day before they will close it. The pdl's kept trying to debit, even though I showed the bank proof that I had revoked authorization, and the overdraft fees kept piling up. The bank continued to allow this to go on for about a month and a half, then finally closed the account, reported me to chexsystems, and sent me to collections.

Again, I'm not saying for sure this will happen to you, but that is my experience with your bank and that situation.

Posted: Tue Mar 20, 2007 12:34 pm Subject:

WF policy is ach transactions within 30 days of account closing will reopen a closed account.

Just so you know, you can call the bank and talk to 3 different people and get 3 different answers to the same question. They don't always know what will happen to closed accounts.

Posted: Tue Mar 20, 2007 1:31 pm Subject:

Their banking procedures sound as crooked as their home mortgages. They will foreclose on you if you are even one month late.

Posted: Tue Mar 20, 2007 1:34 pm Subject:

They are in my opinion the worst one out there. They tried to screw my parents over when they refinanced their house by calling the company my parents were refinancing with and telling them my parents changed their mind! We were shocked when we heard that. They play very dirty.

I'm hoping that your account will stay closed guest, but I would not be surprised if it didn't.

Keep us posted on what happens. It would be nice to hear that WF is treating people better now . . . .

Posted: Tue Mar 20, 2007 2:07 pm Subject:

Yikes...and to think I was looking at a checking account with them a while back. Glad I didn't.

Posted: Tue Mar 20, 2007 2:37 pm Subject:

I have quite a low opinion of them . . . After my account went into the negative due to theft of my purse and repeated attempts by pdl's to get money, they sent me to chexsystems, and that caused my other bank to freeze and close all my accounts. At the time it totally sucked. I kept all my money in the bank at that time, and had nothing for over 2 weeks.

Posted: Tue Mar 20, 2007 2:40 pm Subject:

WF, is that Wacovia(spelling?), if so. I find this interesting. Because I paid off my car well over a year ago and just now got the title to my car.

Posted: Tue Mar 20, 2007 2:50 pm Subject:

Wells Fargo

Posted: Tue Mar 20, 2007 2:51 pm Subject:

But I've heard that Wachovia has been going downhill in the last few years. But I don't have any personal experience with them.

But a year to get a car title doesn't sound like they have things together.

Guest · Posted: Tue Mar 20, 2007 8:46 pm Subject: There has got to be a way

that you can dispute it with chexsystems. Can't you tell a branch manager the story and say they were in violation of letting these charges go through if you had revoke letters?

Your post freaked me out so I called WF 6 different times and spoke with someone different everytime, they assured me no ach's will go through on a closed acct. I will post in a couple weeks and let you know.

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