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Old 10-07-2011, 01:19 PM
 
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Just spoke with a USAA banker who said that indeed there is a process to stop an automatic withdrawal.

It involves their dispute department who, in the case of the credit union that kept withdrawing payments for a loan that was paid off, would contact the credit union and if the credit union would not stop withdrawing the payments, USAA would cancel their access to our checking account.

So it seems that this inability to cancel an automatic withdrawal is not an impossibility but rather a Wachovia/Wells Fargo policy.

Nonetheless, I have set up my last automatic withdrawal.
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Old 10-07-2011, 01:23 PM
 
Location: SW MO
23,605 posts, read 31,471,910 times
Reputation: 29071
Quote:
Originally Posted by PatRoy1 View Post
Just spoke with a USAA banker who said that indeed there is a process to stop an automatic withdrawal.

It involves their dispute department who, in the case of the credit union that kept withdrawing payments for a loan that was paid off, would contact the credit union and if the credit union would not stop withdrawing the payments, USAA would cancel their access to our checking account.

So it seems that this inability to cancel an automatic withdrawal is not an impossibility but rather a Wachovia/Wells Fargo policy.

Nonetheless, I have set up my last automatic withdrawal.
Let's hear it for USAA. It still exemplifies customer service. Might be why I've been a member for 45 years.

Back in the day, Well's Fargo was a great bank. Over the years it's simply become another B of A. Pity!
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Old 10-07-2011, 02:00 PM
 
Location: not where you are
8,134 posts, read 7,639,152 times
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[quote=TRosa;21189854]No that's not the case, it mostly depends on the type of company you are dealing with. Most companies have proceedures you follow to cancel the automatic withdrawals and if you have done so according to their stipulations in the contract, they are to stop the deductions accordingly. If the company doesn't honor contract, you should be able to have your bank stop paying as long as you can show the contract and that you are in accordance with it. Then again, that might depend on your banks fraud policy.[/quote]

Quote:
Originally Posted by PatRoy1 View Post
Just spoke with a USAA banker who said that indeed there is a process to stop an automatic withdrawal.

It involves their dispute department who, in the case of the credit union that kept withdrawing payments for a loan that was paid off, would contact the credit union and if the credit union would not stop withdrawing the payments, USAA would cancel their access to our checking account.

So it seems that this inability to cancel an automatic withdrawal is not an impossibility but rather a Wachovia/Wells Fargo policy.

Nonetheless, I have set up my last automatic withdrawal.
Yep, seems it depends on your bank's policies in how they handle such matters. I've only ever had the same account for the past 15 or so years, though the letter head of the bank has changed three times, now to BOA and in all my dealings with various companies when I've had billing disputes of any kind, my monies were returned to my account, so guess I'm jaded. I'm not saying it's always been easy, but when I know I'm in the right and stood my ground, my money was returned.

As stated, there are some accounts you have no recourse but to close the account, but be aware, if you have an outstanding balance on the account, you probably won't be able to close it and will continue to accumulate fees for any outstanding balances and future withdrawal postings to your account. I saw this happen to a friend that took out one of those payday loans, silly gal. The bank refused to close her account so the late fees would get tacked on every time the loan company tried to do a withdrawal. I'm not sure if she was ever able to open another checking account, I know it wasn't possible for her to do so back then.
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Old 10-12-2011, 04:44 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
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Just FWIW. My father here in JAX had a Wachovia checking account that was taken over by Wells Fargo perhaps 4-5 months or so ago. Some direct deposits - some direct withdrawals. No problems (he meets the minimum for a no-fee checking account - and he didn't have to do anything with regard to the withdrawals/deposits). We did have to change the log-on info with regard to on-line access (no big deal). Robyn
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Old 10-12-2011, 06:40 PM
 
29,772 posts, read 34,856,103 times
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Quote:
Originally Posted by Robyn55 View Post
Just FWIW. My father here in JAX had a Wachovia checking account that was taken over by Wells Fargo perhaps 4-5 months or so ago. Some direct deposits - some direct withdrawals. No problems (he meets the minimum for a no-fee checking account - and he didn't have to do anything with regard to the withdrawals/deposits). We did have to change the log-on info with regard to on-line access (no big deal). Robyn
Very smooth, easy and friendly if you have enough on deposit.
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Old 10-13-2011, 04:24 PM
 
Location: Central Florida
973 posts, read 1,489,255 times
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Ok... my 2 cents! I had free checking with Wakovia w/o a required balance due to being a teacher, but with Wells Fargo, no deal, so I closed my account, but it took me over an hour to do so with questions being asked that I refused to answer that had NOTHING to do with banking, so the poor service rep had to keep calling someone above her.

And today this happened. I have my mortgage there as well as a home equity loan. I received a check from the Wells Fargo Bank due to a settlement in regards to what was once World Savings and Pick-a-Pay, so went there to cash it and pay my loan. Well, they told me they couldn't cash the check as I didn't have a "personal" account there! I was like WHAT??? A mortgage is not personal?? AND the flippen check is from YOUR OWN BANK!!! The teller smiled and told me that she was sorry, but she couldn't cash it unless I opened up a checking account. Have you ever heard of anything like this before??? Is this common?
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Old 10-13-2011, 05:10 PM
 
29,772 posts, read 34,856,103 times
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Quote:
Originally Posted by Sagitarrius48 View Post
Ok... my 2 cents! I had free checking with Wakovia w/o a required balance due to being a teacher, but with Wells Fargo, no deal, so I closed my account, but it took me over an hour to do so with questions being asked that I refused to answer that had NOTHING to do with banking, so the poor service rep had to keep calling someone above her.

And today this happened. I have my mortgage there as well as a home equity loan. I received a check from the Wells Fargo Bank due to a settlement in regards to what was once World Savings and Pick-a-Pay, so went there to cash it and pay my loan. Well, they told me they couldn't cash the check as I didn't have a "personal" account there! I was like WHAT??? A mortgage is not personal?? AND the flippen check is from YOUR OWN BANK!!! The teller smiled and told me that she was sorry, but she couldn't cash it unless I opened up a checking account. Have you ever heard of anything like this before??? Is this common?
Could be I have heard of it before. That is part of the attraction of big banks with multiple branches to provide service. Had they cashed it without charge they would have been providing a fee free check cashing service. Would you have expected that from anyone? Banks and financials are hurting and some are on a pathway to problems as any investor will tell you. The spread they are working with doesn't give them much to work with and federal regs are killing them.
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Old 10-13-2011, 05:10 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,923,045 times
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Happens all the time. You can't cash a regular old check unless you have a checking account - and you often can't cash a 3rd party check unless you have enough funds in your account to cover the check (in case it bounces). Why didn't you just deposit the check in your new checking account? Robyn
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Old 10-13-2011, 05:14 PM
 
29,772 posts, read 34,856,103 times
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Quote:
Originally Posted by Robyn55 View Post
Happens all the time. You can't cash a regular old check unless you have a checking account - and you often can't cash a 3rd party check unless you have enough funds in your account to cover the check (in case it bounces). Why didn't you just deposit the check in your new checking account? Robyn
We all need to remember that millions of Americans want banks to make money and the more the merrier in many ways. How many seniors have pension funds, mutual funds, individual stocks that depend on a profitable thriving bank making lots of money?
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Old 10-13-2011, 06:58 PM
 
Location: Central Florida
973 posts, read 1,489,255 times
Reputation: 1098
Quote:
Originally Posted by Robyn55 View Post
Happens all the time. You can't cash a regular old check unless you have a checking account - and you often can't cash a 3rd party check unless you have enough funds in your account to cover the check (in case it bounces). Why didn't you just deposit the check in your new checking account? Robyn

I didn't open one up. And the check was from THEIR bank...a business check from a Wells Fargo account!!! That is ridiculous!
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