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Wells Fargo nightmare
aha
lop guest
User ID: 407912
03-19-2017 05:09 AM

 



Post: #1
Wells Fargo nightmare
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So my mother loses her wells fargo debit card... called the bank when she realized it.

Looks at her statement and goes wtf?

Someone deposited two fraudulent checks into her account. Using mobile deposit.

I have never heard of this before. An application that you can download and use your phone to deposit checks.

And then the person that deposited the checks, went on a shopping spree with my moms card. Her own money that she had in her account is gone. And her balance is in the negative thousands.

Of course those two checks bounced and she got a letter from the bank... saying that she is the one that did these transactions.

My sister went with her the first time to the bank. The bank blamed my mother for everything. Absolutely nothing has been done. They just closed my moms account and want her to pay everything back.

I called today trying to get to the fraud department. The rep told me to go to one of the branches and that she cant do anything for my mother. I asked to speak to her supervisor. She tried to transfer me for 30 minutes and then transferred me to their fraud department.

Once again I get a nasty woman from their fraud department. Who told me, that she cant discuss anything over the phone with me. And that I need to go to the bank and have one of the bankers call the fraud department. Which I informed her, we have already done and nothing was accomplished. The banker made my mother cry. She is so stressed out and in a lot duress.

This time on Monday I am going with my mother. Going to record our conversation and give them hell. And if they are going to give me the run around again. I will take them to a small claims court, write to BBB and other agencies.

This is beyond ridiculous. What is going to the branch going to do?

Fraud department cant tell me what they have and have not done over the phone, really?

She tried opening another bank account. However, after this incident now bank will open one with her.


Do you guys have any other suggestions or would like to comment? go right ahead


thanks
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CPL
Registered User
User ID: 153181
03-19-2017 05:18 AM

Posts: 12,060



Post: #2
RE: Wells Fargo nightmare
aha  Wrote: (03-19-2017 05:09 AM)
So my mother loses her wells fargo debit card... called the bank when she realized it.

Looks at her statement and goes wtf?

Someone deposited two fraudulent checks into her account. Using mobile deposit.

I have never heard of this before. An application that you can download and use your phone to deposit checks.

And then the person that deposited the checks, went on a shopping spree with my moms card. Her own money that she had in her account is gone. And her balance is in the negative thousands.

Of course those two checks bounced and she got a letter from the bank... saying that she is the one that did these transactions.

My sister went with her the first time to the bank. The bank blamed my mother for everything. Absolutely nothing has been done. They just closed my moms account and want her to pay everything back.

I called today trying to get to the fraud department. The rep told me to go to one of the branches and that she cant do anything for my mother. I asked to speak to her supervisor. She tried to transfer me for 30 minutes and then transferred me to their fraud department.

Once again I get a nasty woman from their fraud department. Who told me, that she cant discuss anything over the phone with me. And that I need to go to the bank and have one of the bankers call the fraud department. Which I informed her, we have already done and nothing was accomplished. The banker made my mother cry. She is so stressed out and in a lot duress.

This time on Monday I am going with my mother. Going to record our conversation and give them hell. And if they are going to give me the run around again. I will take them to a small claims court, write to BBB and other agencies.

This is beyond ridiculous. What is going to the branch going to do?

Fraud department cant tell me what they have and have not done over the phone, really?

She tried opening another bank account. However, after this incident now bank will open one with her.


Do you guys have any other suggestions or would like to comment? go right ahead


thanks

Let the investigations department handle it and it'll be pretty obvious that it's not your mother if they do their due diligence. They check where, when, what was bought and if it doesn't jive with her spending patterns then they have insurance on the account up to 60000 dollars based on the FDIC rules on insurance claims on accounts.

Sometimes it's fast, other times it's not.

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LoP Guest
lop guest
User ID: 407912
03-19-2017 05:21 AM

 



Post: #3
RE: Wells Fargo nightmare
The problem is, they arent investigating. Will find out for sure come Monday.
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LoP Guest
lop guest
User ID: 407912
03-19-2017 05:25 AM

 



Post: #4
RE: Wells Fargo nightmare
the told her to open a claim and denied the claim after it was opened.
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CPL
Registered User
User ID: 153181
03-19-2017 05:33 AM

Posts: 12,060



Post: #5
RE: Wells Fargo nightmare
LoP Guest  Wrote: (03-19-2017 05:25 AM)
the told her to open a claim and denied the claim after it was opened.

Who's the insurance company...sec....Wells fargo....

[Image: 2lcoevr.png] BTC: 1JdRM74wtrBDZbu8n2aUPP3bLrCtEFFuM8

[Image: 2gy53sw.jpg] LTC: LgeE3yqbcuLkhqJGxPnqddM6Gvq9gtvuB3
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LoP Guest
lop guest
User ID: 407912
03-19-2017 05:35 AM

 



Post: #6
RE: Wells Fargo nightmare
CPL  Wrote: (03-19-2017 05:33 AM)
LoP Guest  Wrote: (03-19-2017 05:25 AM)
the told her to open a claim and denied the claim after it was opened.

Who's the insurance company...sec....Wells fargo....

Yup Wells Fargo.... not even accredited by BBB anymore
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LoP Guest
lop guest
User ID: 381440
03-19-2017 05:35 AM

 



Post: #7
RE: Wells Fargo nightmare
There a very shadowy group , bureaucratic and corrupt . Originally they were wachovia , notice how fema made their grand entrance when wells fargo was spewed onto the stage . Its all corporate correction , and they have every loop hole covered , being that they help launder fraudulent funds and help the govt shop at the corner markets for their favorite flavored pork rinds and crackling..

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CPL
Registered User
User ID: 153181
03-19-2017 05:36 AM

Posts: 12,060



Post: #8
RE: Wells Fargo nightmare
FDIC insurance limits

Current FDIC insurance covers a depositor for $250,000, but through our convenient,
automated service you get even more protection. At Wells Fargo Advisors, cash deposits are covered by FDIC insurance for a total of at least $750,000 if you are enrolled in our Bank Deposit Sweep Program.* Through this program, uninvested cash balances (principal and interest) are automatically deposited, or “swept,” into three affiliate banks. Depositors are covered for up to $250,000 per owner at the first affiliate bank plus $250,000 per account in each of the two additional affiliate banks – triple the coverage you would receive at one bank.

For example:

Individual accounts (i.e., one owner)

— Cash sweep deposits are insured up to $750,000.

Joint accounts (i.e., multiple owners)

— Cash sweep deposits are insured for up to $1 million in the case of two owners — plus an additional $250,000 for each additional owner.

Trust/transfer-on-death (TOD) accounts

— Cash sweep deposits are insured for up to $750,000 in the case of one owner/one beneficiary — with additional insurance coverage for each additional owner/beneficiary combination (e.g., with two owners and two beneficiaries, the total is $1.5 million).

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Mix
Registered User
User ID: 411244
03-19-2017 05:38 AM

Posts: 1,201



Post: #9
RE: Wells Fargo nightmare
The Bank is responsible to insure your Moms account.

There is a court case needed to bring culpability of Bank for your mom. She will recieve award for duress caused by Bank before this is over.

LmaoLmaoLmao
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LoP Guest
lop guest
User ID: 407912
03-19-2017 05:39 AM

 



Post: #10
RE: Wells Fargo nightmare
CPL  Wrote: (03-19-2017 05:36 AM)
FDIC insurance limits

Current FDIC insurance covers a depositor for $250,000, but through our convenient,
automated service you get even more protection. At Wells Fargo Advisors, cash deposits are covered by FDIC insurance for a total of at least $750,000 if you are enrolled in our Bank Deposit Sweep Program.* Through this program, uninvested cash balances (principal and interest) are automatically deposited, or “swept,” into three affiliate banks. Depositors are covered for up to $250,000 per owner at the first affiliate bank plus $250,000 per account in each of the two additional affiliate banks – triple the coverage you would receive at one bank.

For example:

Individual accounts (i.e., one owner)

— Cash sweep deposits are insured up to $750,000.

Joint accounts (i.e., multiple owners)

— Cash sweep deposits are insured for up to $1 million in the case of two owners — plus an additional $250,000 for each additional owner.

Trust/transfer-on-death (TOD) accounts

— Cash sweep deposits are insured for up to $750,000 in the case of one owner/one beneficiary — with additional insurance coverage for each additional owner/beneficiary combination (e.g., with two owners and two beneficiaries, the total is $1.5 million).


thank you

I had no idea
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CPL
Registered User
User ID: 153181
03-19-2017 05:40 AM

Posts: 12,060



Post: #11
RE: Wells Fargo nightmare
LoP Guest  Wrote: (03-19-2017 05:35 AM)
CPL  Wrote: (03-19-2017 05:33 AM)
Who's the insurance company...sec....Wells fargo....

Yup Wells Fargo.... not even accredited by BBB anymore

Wow...you are right. They lost their insurance a couple of years ago on some types of their accounts. If the account your mother is using doesn't meet the above account descriptions there's nothing that can be done about the losses. And they have LOTS of credit card programs and transfer mechanisms.

I think they just stuck the bag with your mother if they denied and dropped the investigation. Did they say what type of account was attached to the card?

[Image: 2lcoevr.png] BTC: 1JdRM74wtrBDZbu8n2aUPP3bLrCtEFFuM8

[Image: 2gy53sw.jpg] LTC: LgeE3yqbcuLkhqJGxPnqddM6Gvq9gtvuB3
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LoP Guest
lop guest
User ID: 402218
03-19-2017 05:43 AM

 



Post: #12
RE: Wells Fargo nightmare
regions bank is worse(th worst still?). they robbed their own mutual funds in 2008
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LoP Guest
lop guest
User ID: 407912
03-19-2017 05:43 AM

 



Post: #13
RE: Wells Fargo nightmare
CPL  Wrote: (03-19-2017 05:40 AM)
LoP Guest  Wrote: (03-19-2017 05:35 AM)
Yup Wells Fargo.... not even accredited by BBB anymore

Wow...you are right. They lost their insurance a couple of years ago on some types of their accounts. If the account your mother is using doesn't meet the above account descriptions there's nothing that can be done about the losses. And they have LOTS of credit card programs and transfer mechanisms.

I think they just stuck the bag with your mother if they denied and dropped the investigation. Did they say what type of account was attached to the card?

she just had a checking account with them.

other then that I have no idea. my sister went with her the first time.... and she doesnt know how to talk to them.

waiting for monday
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CPL
Registered User
User ID: 153181
03-19-2017 05:44 AM

Posts: 12,060



Post: #14
RE: Wells Fargo nightmare
Mix  Wrote: (03-19-2017 05:38 AM)
The Bank is responsible to insure your Moms account.

There is a court case needed to bring culpability of Bank for your mom. She will recieve award for duress caused by Bank before this is over.

LmaoLmaoLmao

Only under certain services they offer it and it looks like they only have a handful that are covered by insurance under certain conditions. If you aren't a 'big fish' customer, they don't cover you. For a chequing account to qualify for 250,000 in insurance the account has to have a million dollars in it for a year. It's why the low balance accounts aren't FDIC covered because the insurance doesn't qualify them.

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LoP Guest
lop guest
User ID: 407912
03-19-2017 05:45 AM

 



Post: #15
RE: Wells Fargo nightmare
LoP Guest  Wrote: (03-19-2017 05:43 AM)
regions bank is worse(th worst still?). they robbed their own mutual funds in 2008

wells fargo had their employees open second accounts for their customers.... without telling the customers....

lawsuit going on right now. that is why BBB dropped them
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