Banking giant can’t explain money mysteriously missing from student’s account.
On Wednesday Monica called me in tears from Wells-Fargo. It appears that she made a $400 withdrawal from her account on May 30 to cover the cost of tuition for school on June 4th. She did not make any withdrawals after that time, and knew that she had $300+ in her account for books and other things. She was horrified when she went to withdraw $20 from her account and was told that she only had a balance of $7. I asked her if she had tried to make the withdrawal from the savings account, thinking that if there had been any overdrafts the original $100 moved to that account would be depleted. She answered that she had checked that account too but the $300 was missing. I told her to talk to the bank manager and call me from his office so I could help her out. She did. The bank manager told me that on the same day there was a $300 withdrawal after the $400. I asked what time it was done but he said he’d have to check. I asked who made the withdrawal, and he told me he would have to check it out. I asked how soon he would have an answer. He told me he didn’t know. I asked for a ballpark figure and he said 24 hours. He said he was sure it was a “computer glitch” and would be straightened out in no time. A computer glitch? What kind of glitch does a computer make where-in $300 goes missing from a customer’s account? [Read more…]