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TexLaw
TexLaw, Attorney
Category: Legal
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Experience:  Lead trial/International commercial attorney licensed 11 yrs
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i had 5,366 deposited in my account. april13 .the money came

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i had 5,366 deposited in my account. april13 .the money came from came from an enployer i work for out of the country.wells fargo deposited the money.well ispent the money thinking it was mine .now they have my account -over 200 dollars .i talk to my bank and they said they are taking it out in 1000 dollars a day now.i belive it is wells fagos mistake they should pay.do you have any advice.please keith.
Submitted: 7 years ago.
Category: Legal
Expert:  TexLaw replied 7 years ago.
I want to clarify your question so that I can provide you with a better answer.

Wells Fargo is your employers bank?

Did you deposit the money as a check?

When you deposited the money, Wells Fargo then began withdrawing the money?

Were you charged any kind of fee or penalty by your bank?
Customer: replied 7 years ago.
wells fargo is my employees bank.yes.... no i did not deposit the money as a check,wells fargo direct deposeit into my account.i was thinking it had been a bonous check so i spent the money......wells fargo made the mistake of deposting it in my account in early april.....in may 6 they started withdrawling the money out of my account.and as of today iam in the hole with my bank.ihave been chagred over draft fees from my account.is there any thing i can do.please write me back,thank you so much for replying. keith
Expert:  TexLaw replied 7 years ago.
Hi

Thank you for submitting your important legal issue to Just Answer. I am pleased to have the opportunity to provide you with an honest and easy to understand answer to your question.

I am an attorney licensed in the State of Texas. The following information is a brief answer to your question. However, if you feel that you need further information or that you have other insights which might help me in providing a better answer, please feel free to write back.

In this situation, your bank account agreement will control the terms of deposits made into your account. It sounds like there may have been a mistaken payment to your account. You need to send a certified letter to Wells Fargo requesting an explanation of the withdrawals, from your account and state that you had a good faith belief that you had earned the money and that it was yours to spend. Request a refund of all over draft fees, and threaten to close your account and file suit should they not return the fees. Also state that they were withdrawing the funds from your account without notice or explanation, which is a breach of the bank account agreement. Unfortunately, if it is a mistaken payment, they have the right to take the money out of the account. However, they should not charge you overdraft fees on the payments, as it is not your fault. In the end, it is very difficult to fight the bank on situations like this because they have a Arbitration Clause in your bank account agreement, which will actually prevent you from filing suit and also puts you into a very unfavorable venue for protecting your consumer rights. If there were any misrepresentations made by the bank in regard to this situation, you may have a cause of action under your states Consumer Protection statutes.
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