Subject Regulation AA We have savings accounts at Wells Fargo by richman6


									Subject:       Regulation AA

We have savings accounts at Wells Fargo bank, they are supposed
to cover overdrafts with our savings. Recently we had about $500
in savings, and I had set up an automatic payment to pay our
mortgage that I forgot about. I travel a lot with my job, and by
the time I logged in again we had $408 in overdraft fees. This
was my mistake, so I called the bank and asked why our savings
wasn't depleted, but didn't get an answer to that question. I
asked about removing some of these fees, and was told that I
could have them reversed if I came into the bank to apply for
overdraft protection. (We had applied when we first opened this
account 1.5 years ago and were denied) I went to the bank and
applied for this and the bank would only reverse one-half the
fees. They gave us a line of credit for overdraft protection of
$13,000, at very high interest rates.
This is a predatory practice as far as I am concerned, we have
not been overdrawn before, and to have this line of credit on
our credit reports is not acceptable to us.
I am now in the process of switching our accounts to a credit
union, as soon as all the transactions clear, I will change
banks, and will close all accounts with Wells Fargo Bank.

Vicki Radtke
PO Box 180
Cass Lake, MN 56633

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