Month: January 2017

21 Jan

lesson learned

Today I learned that you need to triple, not just double, but triple check online payments with Wells Fargo because if you make an online payment there is ZERO way to cancel it if you are paying from any bank other than WF.

How it happened:

Last month I made a total of $5,000 in additional payments on our second mortgage principal, or so I thought. One of them got posted as going toward my September and October payments. NOT what I wanted. That was an additional principal payment and I was to be autodrafted for the regular Sept and Oct payments. But WF messed it up, despite specific instructions.
Because they calculate interest on the average daily balance I wanted that full $2,000 to be applied to the principal three weeks ago, not interest and then the rest to go against two loan payments spread over two, nearly 3 months.
So since it was a dragon slaying day I called them to get it fixed. They agreed to reapply the payment properly, but because today was the 16 and my draft was suppose to come out on the 15 (the reason I was checking it today) there would be no draft this month and only half of a draft next month, even though we were changing that to principal only.
That made absolutely no sense to me and I argued with her that it would make me look like I skipped a payment even though I would have paid over $6,500 in that time frame. But the girl insisted that was the way it had to be.
Because I had the September payment budgeted and wanted to pay it, because that was why it was budgeted. Ms Ashley, the rep told me to make it just as a principal only payment today and then we’d be covered and the interest difference would be added to the partial October payment, which I would then pay the partial difference as a principal only as well. I told her that I wasn’t sure that would work out right to keep me from being called late. She told me absolutely it would be covered because it was their error.
So as soon as I got off the phone with her I made the payment. Less than 15 minutes later she calls me back and says “don’t do it, they are going to run the autodraft through today.” When I told her I already had she told me to just go ahead and cancel the payment immediately.
3.5 very frustrating hours later I can tell you without a doubt if you make an online payment using something other than a Wells Fargo account there is ZERO way to cancel it. So at that point I have 2 payments coming out of a 1 payment account today. I kicked the side out of the barn and supposedly they finally agreed to cancel the autodraft and agreed that if some how it didn’t get stopped and we go OD they will cover the cost. Now do I believe them?? Nope, moving BEF over to checking tonight to be on the safe side. Then if we see they actually did finally get one stopped I can move it back. Thank God for BEF
What is bad is I plan on paying that second full payment on Friday, just not today.

21 Jan

lesson learned

Today I learned that you need to triple, not just double, but triple check online payments with Wells Fargo because if you make an online payment there is ZERO way to cancel it if you are paying from any bank other than WF.

How it happened:

Last month I made a total of $5,000 in additional payments on our second mortgage principal, or so I thought. One of them got posted as going toward my September and October payments. NOT what I wanted. That was an additional principal payment and I was to be autodrafted for the regular Sept and Oct payments. But WF messed it up, despite specific instructions.
Because they calculate interest on the average daily balance I wanted that full $2,000 to be applied to the principal three weeks ago, not interest and then the rest to go against two loan payments spread over two, nearly 3 months.
So since it was a dragon slaying day I called them to get it fixed. They agreed to reapply the payment properly, but because today was the 16 and my draft was suppose to come out on the 15 (the reason I was checking it today) there would be no draft this month and only half of a draft next month, even though we were changing that to principal only.
That made absolutely no sense to me and I argued with her that it would make me look like I skipped a payment even though I would have paid over $6,500 in that time frame. But the girl insisted that was the way it had to be.
Because I had the September payment budgeted and wanted to pay it, because that was why it was budgeted. Ms Ashley, the rep told me to make it just as a principal only payment today and then we’d be covered and the interest difference would be added to the partial October payment, which I would then pay the partial difference as a principal only as well. I told her that I wasn’t sure that would work out right to keep me from being called late. She told me absolutely it would be covered because it was their error.
So as soon as I got off the phone with her I made the payment. Less than 15 minutes later she calls me back and says “don’t do it, they are going to run the autodraft through today.” When I told her I already had she told me to just go ahead and cancel the payment immediately.
3.5 very frustrating hours later I can tell you without a doubt if you make an online payment using something other than a Wells Fargo account there is ZERO way to cancel it. So at that point I have 2 payments coming out of a 1 payment account today. I kicked the side out of the barn and supposedly they finally agreed to cancel the autodraft and agreed that if some how it didn’t get stopped and we go OD they will cover the cost. Now do I believe them?? Nope, moving BEF over to checking tonight to be on the safe side. Then if we see they actually did finally get one stopped I can move it back. Thank God for BEF
What is bad is I plan on paying that second full payment on Friday, just not today.