Reply #56: Wells has an even better scam now

[lakercub]

I have overdraft protection attached to my checking. Essentially, it's a line of credit. I go into it all the time and then pay it off all the time. Well not any more. Now, if I don't transfer from the overdraft account myself...they charge a ten dollar fee to do it (it's free if I do it). In other words, a transaction that takes place entirely electronically that requires no labor whatsoever (the software code to do this was written years ago and has been thoroughly paid for by existing fees) costs ten dollars just because they want it to. If I do it myself...it's free. If their software does it automatically, it's ten bucks.

The other thing I like is that they used to transfer in increments of 100 dollars from overdraft to checking. Now they do it in increments of 300 dollars, thus ensuring my interest payments on the line of credit will be higher.

I will be switching banks soon. This fee was the last straw...they already have so many other fees that I just can't take it anymore.