How Do I Dispute Overdraft Fees with Wells Fargo?
This guide can help Wells Fargo customers better understand overdraft fees and how to avoid them with overdraft protection. Customers should also remember that employees of local branches don't have control over overdraft fees. To inquire about potentially waiving overdraft fees, customers should call Wells Fargo Customer Service.
How Do I Dispute Overdraft Fees with Wells Fargo?
Based out of San Francisco, Wells Fargo has locations throughout the country and is the world's fourth-largest bank in the United States. When you sign up for a Wells Fargo account, you also accept the fees associated with the account(s) you overdraft. In some cases, those fees can be refunded. However, these reprieves are reserved for loyal Wells Fargo customers with multiple accounts who make regular direct deposits. Occasionally, Wells Fargo will refund an overdraft fee if you can prove it is a rare occurrence.
If you have trouble understanding your account balance and any overdraft fees associated with your Wells Fargo account(s), contact Wells Fargo Customer Service.
Note: Please keep in mind, teller and branch bank managers don't have the proper authorization to waive overdraft fees. Only a customer service representative can perform this action.
Wells Fargo Overdraft Fees
Every transaction that overdrafts a checking account will automatically trigger a $35 overdraft fee. For example, if you have $90 in your account and an auto payment goes through for $100 and another for $50, you will be charged two $35 overdraft fees for a total of $70. However, you can set up overdraft protection to take money from another account to cover the overdraft, thus avoiding charges.
Wells Fargo Overdraft Protection
One way of avoiding overdraft fees is to enroll in Wells Fargo's Overdraft Protection program. If you have more than one Wells Fargo account, you can link up to two accounts (one credit account and one savings account) to your checking account. However, these transfers come with fees on their own. When money is transferred from a savings account to cover an overdraft, a $12.50 fee is applied to the checking account. If it was transferred from a line of credit, that fee is applied to the credit card.
These services are optional and you can turn them on or off at any time from your account settings. But, if there is not enough money in the linked accounts to cover the overdraft, it can lead to even higher fees. These fees can also be waived if a direct deposit is made to the account before the next business day.
Wells Fargo Overdraft Rewind
In the event that there is an overdraft on your account(s), the bank will review the transaction history every business day morning to see if any direct deposits occurred before 9 a.m., local time. Any direct deposits that cover the fees and occur during the same business day as the overdraft will result in those fees being refunded.
You can contact Wells Fargo Customer Service with any questions and concerns about overdraft fees, as well as how to set up overdraft protection and account balance notification to avoid overdraft fees in the future.
Dealing with overdraft fees can be a very stressful situation, especially because those fees can add up so quickly. Be sure to be calm and patient with customer service. Before calling, inspect your account for the transaction(s) that triggered the overdraft and briefly explain if you have experienced any financial hardships that indicate that an overdraft will not be a regular occurrence.
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