View Full Version : Need some financial advice.

July 24th, 2014, 04:40 PM
Need some feedback or advice.

Last year we bought a new central AC, terms were no interest if we paid it off in 12 months. Done that before for large household items so we agreed. We were to pay Wells Fargo Carrier, made large payments on time every month and sent last payment in the amount of 1985 well before due date of 7/17. Felt great to have that over with.

Imagine our surprise a few days ago when we received a bill from Wells Fargo Carrier for August and a very high one at that as our balance should be 0. Seems their computer read our check as 1085 not 1985 so the whole amount wasn't paid off in July and we owed the 900 plus 1400+ in interest. To make a long story short contacted Wells Fargo through our local branch and worked our way up to a supervisor. After an hour all we accomplished is that they say our check was one amount and we say it was a higher amount. They said they scanned the written script amount not the numerical amount. OK so give me a hard copy of our check with the different amounts on it. Well, they can't do that but take their word for it is was for the lower amount. If that was true they should not have processed the check and returned it to us because it wasn't correct with 2 different amounts on it.

Best supervisor could do is that we pay the 900 (no problem as that's what we owe) and she deducts one month's interest (about 369) from the 1400+. Since there seems to have been errors on both sides, I'm not convinced I made a mistake until I see what I wrote on the check but I'd be willing to pay a month or two's interest in addition to the 900 but not 11 months interest.

Will try again tomorrow but asking if any M* members have any experience with this kind of problem, personally or maybe they work for a bank or credit card company and know "the rules" or just what options we have.

Sylvia H
July 24th, 2014, 04:50 PM
Can't you get a copy of the cancelled check from your own bank? Then you could see for yourself if there is a difference between the written amount and the numerical amount. (I believe it is common practice for a bank to process a check on the written amount if there is a difference.) I hope you can get this settled so you don't have to pay all that interest.

Jean Sewing Machine
July 24th, 2014, 05:07 PM
I paid my income taxes one year and wrote the script wording incorrectly. Was I ever surprised to get a letter from the IRS SAYING i owed. I photocopy every check I write to pay bills, so I saw the problem right away.

I use those Xx months same as cash all the time when I can get it, now I see how important it is to make sure they are paid off in time. Just finished paying off a sewing machine, AC for my rental home, have a mattress and another sewing machine going now.

Get a cheap printer/copier and copy your checks before you send them, that way you at least know whose mistake it is.

Iris Girl
July 24th, 2014, 05:30 PM
I am with Sylvia on this one. My bank has a copy of every check I write. I can pull it up online anytime and make a copy. They should have notified you at the very least if there was a discrepancy in the written and numerical.

July 24th, 2014, 05:56 PM
I am with Sylvia on this one. My bank has a copy of every check I write. I can pull it up online anytime and make a copy. They should have notified you at the very least if there was a discrepancy in the written and numerical.

Went to bank check was written on and they only have an electronic posting from Wells Fargo for the check, not the actual returned check. Wells Fargo has the check or it's in their system but I don't think the actual check still exists. They said they can see the check online but can't print a hard copy of it to send to me. What? Saga continues tomorrow when we go higher up the food chain at Wells Fargo.

July 24th, 2014, 05:58 PM
Yes, first off, I would look at the check. That's what is in question and that's what will give the answer as to what comes next. I bank online and if I write a check, I can look at it online. Sure comes in handy!

July 24th, 2014, 06:09 PM
My daughter worked at a bank once - for a couple of years. She says every bank is different, but she had never heard of anyone going off the written script. They generally go by what is in the box- numeric. Your bank should be able to get you a microfiche copy of the check. Granted it will cost you $$. usually upwards to 30.00 for the copy. Someone should have contacted you with regards to the discrepancy between the written and numeric amounts on your check if they were going to run it through one versus the other. GOOD LUCK!

Iris Girl
July 24th, 2014, 06:13 PM
I guess all banks may be different but both my last bank and my bank now as well as my son's bank you can pull up any cancelled checks you have written once they clear. The original may not exist but a copy is in the computer system for amount of years and you should be able to access it.

July 24th, 2014, 06:18 PM
My advice would be to get the copy of the check (your bank must provide that), and then talk to them again. If they don't rectify the situation I would contact your local TV station - ours has stories every night where the media get involved and magically there is a resolution.

July 24th, 2014, 06:45 PM
My advice would be to get the copy of the check (your bank must provide that), and then talk to them again. If they don't rectify the situation I would contact your local TV station - ours has stories every night where the media get involved and magically there is a resolution.

Seems the answer is to first get a copy of my check - that's what we thought but seems no one can provide it for us.

July 24th, 2014, 08:24 PM
You should definitely be able to get a copy of your check. I would fight this. Quite a few of these companies that offer no interest for x months will try to find a way to collect the interest. If you paid them and on time it is not your fault if they didn't collect the total due. Obviously they knew what you were trying to pay. If there was a question they should have tried to contact you. There's no way you should have to pay interest for the whole year.

July 24th, 2014, 08:45 PM
Something just doesn't sound quite right. How did they cash your check? What did they do with it once it was cashed? If they did it electronically why would they not keep a copy? I think the mistake is probably theirs and now they want you to pay for it.

At work we keep a copy of all the handwritten checks and the stubs from the computer printed checks and put it with the customers paperwork.

July 24th, 2014, 08:54 PM
if you do your banking online you should be able to go to that entry once it is cleared and click on the check number. That should bring up an image of your check front and back. save it to send to Wells fargo and also print a hard copy for yourself.

July 24th, 2014, 08:54 PM
Your bank that you wrote your check from would have an electronic front & back copy of your cashed check - If you have online banking you should be able to view it and print a hard copy plus save a PDF copy to your computer. This would allow you to email a copy to Wells Fargo.

Otherwise you should request a copy of the cancelled check from your bank by phone or in person from your branch. There should be no reason your bank wouldn't be able to provide you with a copy, now if your bank if the same company as the company who has made this "error" than I would be contacting a "higher" up than whom you are talking to. It would seem that they are making some "paperwork" disappear to their advantage and I don't belief the Banking Regulatory Agencies would approve of that. Surely they would not what you to contact them!

Good luck, Ruby

July 24th, 2014, 09:32 PM
I think that in today's world the physical checks are no longer returned to the bank they were written on. Everything is electronic. That is why you can go online and see an image of each check you have written. Doesn't you bank have this online option so you can see it yourself and print it out at home? Did you speak to the branch manager at your bank when you were there? Perhaps that would get things resolved better. If not, perhaps one of the media consumer advocates could help "negotiate" with Wells Fargo. Just a suggestion. For this amount of money swallow your pride and try anything!

I feel sick inside hearing this story. It certainly could happen to any of us. I wish you all the best of luck.

July 24th, 2014, 09:35 PM
I hope you get this settled quickly! We were burned on one of these - we did the 12 months same as cash and right after 6 months was up, they sent us a statement showing us owing interest back to the date of purchase. We tried arguing and got no where - they claimed it was 6 months same as cash - just paid them off and won't shop at the store that uses that finance company anymore..... I will use Home Depot, Sears and Best Buy. The one we got burned on was a furniture store.....

July 24th, 2014, 09:50 PM
Plenty of advice, thanks.

The company we bought the AC system from used to take care of financing themselves, that's how we paid off our heating system several years ago. Like everyone else they have outsourced financing to an outside firm, in our case Wells Fargo Credit Co. Bank that our check was written on never received the actual check back, Wells Fargo sent them an electronic posting of the check. Wells Fargo says it has an image of the check but they can't make us a hard copy of it. We don't do online banking but that wouldn't solve our problem. We just found out about this problem yesterday afternoon and we tried to correct it immediately. Our check should have paid the remaining balance of our loan and no interest is due. Because of them crediting us with the wrong amount the loan is now 5 days past due, so we said we'd pay the 900 left on the loan plus one month's interest. No go for them as Wells Fargo said pay the $900 left on the loan for the AC and 11 months interest and they will 'forgive' one month's interest. When DH told the supervisor that wasn't acceptable she hung up on him.
Let's see what tomorrow brings.

Sylvia H
July 24th, 2014, 09:50 PM
Your bank has to provide you with some kind of copy of the cancelled check. Please pursue this further with them. The suggestion of going to the branch where you established your account is a good one.

Sylvia H
July 24th, 2014, 09:56 PM
I'm with the others that think it makes no sense that you cannot get a copy of the check from your bank. If you do not do online banking, do you get a mailed monthly statement from your bank? How do they send you a record of your cancelled checks? Keep up with pushing your bank to provide you documentation of your check.

Claire OneStitchAtATime
July 24th, 2014, 10:00 PM
Good luck! And if you can't get an electronic copy of your check from your bank, try a consumer advocate like The Haggler at the New York Times. This is right up his alley & these companies often are more willing to be helpful if there's bad publicity for them. It might be your mistake, & I can totally see myself doing something like that in a moment of inattention, but you shouldn't have to take their word for it. There are plenty of predatory lenders out there. They should show you the evidence, if they have any!

July 24th, 2014, 11:05 PM
Do you have carbon checks??? You could always check that. Otherwise, like others said, go to your bank and ask for a copy of the check. Hopefully you wrote it for the correct amount, which I'm sure you did, and they can eat crow!!

July 25th, 2014, 12:03 AM
Some finance and credit card companies process checks as electronic funds transfers and the bank doesn't get the cancelled check back. The amount shows up as an electronic transaction on the bank statement. Good luck with your problem May.

Judy, USMC
July 25th, 2014, 04:52 AM
When I go to the grocery store up here in Chicago and write a check they just process an electronics fund transfer and give me back my check right at the checkout register; the bank never sees the check. So if you contact the bank and they say the funds were withdrawn by electronic means your bank may not have gotten the check back. And I found this: "Section 3.114 of the Uniform Commercial Code (UCC), a set of rules for business transactions, dictates how any confusion should be handled:
“If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers.”

If Wells Fargo will not give you a hard copy I wonder if the bank you drew it on can get it for you. It's worth asking your bank to make sure the amounts were in fact different. And you can always contact the CEO. Here's a link where I found some interesting comments in their Values section: https://www.wellsfargo.com/invest_relations/vision_values


July 25th, 2014, 05:31 AM
You can get a copy of that check....the bank must provide it to you, especially since there is a dispute about the amount. While they may not have the original check, they have copies (front & back) of every check they process. I do know that the banks around here go by the hand written amount, not the numeric amount that is written. So if the box says $520.00 and it is written Five hundred and 00/100....they will process the check for $500. Some banks may be different. Good luck, hope you have a good outcome.

July 25th, 2014, 07:38 AM
May I hope you can get this resolved as soon as possible.

July 25th, 2014, 10:22 AM
I make bank deposits for my company, and found out the hard way that they rely on the written amount - not the numerical amount. I never even glance at the written amount. People, apparently, are inconsistent and sloppy and they have to have a standard to go by. Why they choose the written version, I'll never understand. because many people misspell and write horribly. Anyway...in this area the written amount tells the tale.

I am paperless at my bank, but if I ever need to look at a check, all I have to do is click on the check in the statement, and a window pops open with a scan of the actual check. Not that I write that many. I pretty much do everything online. But, if your bank can't get you a copy of the check, maybe it's time to look at other banks. Seems like you're missing out on a basic service.