Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Money Goes Missing From Wells Fargo Customers’ Accounts
National File ^ | March 14, 2023 | CHARLES DOWNS

Posted on 03/15/2023 5:39:27 AM PDT by Red Badger

Friday was a dark day for the U.S. economy.

Last Friday, Wells Fargo customers started complaining about missing money from their accounts. Wells Fargo has publicly acknowledged that customers are missing money from their accounts but did not provide customers with a timeline for fixing the issue. Silicon Valley Bank also collapsed on Friday.

When Wells Fargo customers logged into their bank accounts Friday, they were greeted with a message that read. “If you see incorrect balances or missing transactions, this may be due to a technical issue and we apologize. Your accounts continue to be secure and we’re working quickly on a resolution.”

Friday’s Wells Fargo statement to customers uses the interesting language “this may be due to a technical issue.” However, so far, the bank has announced no other “may be issues” as a possible cause for why Wells Fargo customers’ money is missing.

Friday was one of the darker days in American financial history. Silicon Valley Bank’s failure was the most significant financial institution collapse since 2008.

Friday’s grim financial news prompted Twitter users to start sharing a video from 2020 of former President Trump talking about America’s economic future “All this incredible job we have done will go down like that. It will be a terrible sight. It might even be a 1929 situation, but you will have a crash like you have never seen before. If you put the wrong person in office, you will see things you would not have believed are possible.” Trump said in the video.

Bank Panic! Is this Donald Trump prediction about to come true?

SVB, First Republic Bank, Signature Bank, JPMorgan, Wells Fargo, Bank of America & Citigroup all losing HUGE. It was the worst day for bank stocks since 2020 which fell over 4% Per FBN. pic.twitter.com/CogDtMf9GP

— SweetPeaBelle (@SweetPeaBell326) March 10, 2023

Friday’s Wells Fargo and Silicon Valley Banks news also prompted Twitter users to share a 2008 clip from the tv show South Park. The clip shows the local South Park bank losing all its customers’ money. “Another crazy thing South Park wrote that came true.” One Twitter user wrote.

https://twitter.com/i/status/1634268217995583488


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; News/Current Events; US: California
KEYWORDS: bank; missingmoney; siliconvalley; siliconvalleybank; svb; trump; trumpprediction; wellsfargo
Navigation: use the links below to view more comments.
first previous 1-2021-4041-45 next last
To: Red Badger

Is Lord Buffett tied to this?


21 posted on 03/15/2023 6:41:55 AM PDT by Lurkina.n.Learnin (The road to tyranny is paved with compliance )
[ Post Reply | Private Reply | To 1 | View Replies]

To: DannyTN

It sounds like a round of ACH transactions were screwed up.

In the old days, they were run twice a day. At that time were were in a “batch” mode. If one of the batches got messed up all of the overnight transactions were not posted. This would cause our account system to “not come up” in the morning.

I hope banks have improved their systems….but this “feels” like that kind of screw up.


22 posted on 03/15/2023 6:47:10 AM PDT by Vermont Lt
[ Post Reply | Private Reply | To 4 | View Replies]

To: Lurkina.n.Learnin

I would not be surprised.................


23 posted on 03/15/2023 6:48:25 AM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Red Badger

Wells Fargo has had problems for years.


24 posted on 03/15/2023 7:00:31 AM PDT by Blood of Tyrants (It's science and therefore cannot be questioned!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Leaning Right
Yeah, it is a cool logo, but you would have to go Bank of America to find a bigger hive of scum and villainy.
25 posted on 03/15/2023 7:01:09 AM PDT by Vigilanteman (The politicized state destroys aspects of civil society, human kindness and private charity.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Slingwing

Had an account with them a few years ago. It wasn’t paying any interest so I asked if they had any other options that would produce income.
The guy proposed that I should borrow money from them and get a “tax refund” on the interest!
Moved my money out as soon as I could and never looked back.


26 posted on 03/15/2023 7:03:14 AM PDT by S. D. Waters (My life is an open book, but it's badly written and I die at the end)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Blood of Tyrants
From Wiki: Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California.................
27 posted on 03/15/2023 7:08:14 AM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
[ Post Reply | Private Reply | To 24 | View Replies]

To: bert
Poor old Butterfield. Nobody knows about him today but we all know about Mr. Wells and Mr. Fargo. Maybe that’s because Messrs Wells and Fargo knew how to hire guys like James Hardie to keep their customer deposits safe.


28 posted on 03/15/2023 7:15:10 AM PDT by ProtectOurFreedom (The government's lying liars love to lie)
[ Post Reply | Private Reply | To 12 | View Replies]

To: Red Badger

Only idiots bank at WF at this point. Their corrupt, illegal and unethical business practices have be widely reported in the past. Every depositor should leave WF and WF should allowed to fail.


29 posted on 03/15/2023 7:39:12 AM PDT by ConservativeInPA ("How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Psalm 73

I dropped them years ago and am all credit unions.


30 posted on 03/15/2023 7:40:25 AM PDT by wally_bert (I cannot be sure for certain, but in my personal opinion I am certain that I am not sure.)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Psalm 73

You have no worries. Mortgages are sold all the time. It doesn’t change the terms. You got what you wanted long ago; money to buy a home. They didn’t get paid back yet. You hold the leverage.


31 posted on 03/15/2023 7:42:39 AM PDT by ConservativeInPA ("How did you go bankrupt?" Bill asked. "Two ways," Mike said. "Gradually and then suddenly." )
[ Post Reply | Private Reply | To 19 | View Replies]

To: Leaning Right

This.


32 posted on 03/15/2023 7:46:29 AM PDT by pas
[ Post Reply | Private Reply | To 2 | View Replies]

To: Red Badger

Bookmark


33 posted on 03/15/2023 7:55:19 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger

Wells Fargo has publicly acknowledged that customers are missing money.

As many time as it’s happened it’s called a habit.


34 posted on 03/15/2023 8:08:46 AM PDT by Vaduz (LAWYERS )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Abathar
Have you ever noticed that not once is the error in favor of the account holder, and only the bank?

I noticed that at US Bank some 30 years ago. My checking balance was always a few cents less than what my checkbook said I should have. It would be random like -.37, -.66, -.43, but always negative.

I switched to a small local bank and my accounts have been correct to the penny for 30 years.

I always wondered whose account all those pennies from who knows how many accounts they were going into.

35 posted on 03/15/2023 8:33:36 AM PDT by seowulf (Civilization begins with order, grows with liberty, and dies with chaos...Will Durant)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Tench_Coxe

FTX has definitely not disappeared from the news cycle even there’s not much new at the moment. They’re now reporting on Shaquille O’Neill’s ties to FTX.


36 posted on 03/15/2023 8:44:53 AM PDT by Kathy in OC
[ Post Reply | Private Reply | To 6 | View Replies]

To: seowulf
These guys might know:


37 posted on 03/15/2023 8:50:11 AM PDT by Tench_Coxe
[ Post Reply | Private Reply | To 35 | View Replies]

To: Red Badger

They’re welcome to all 12 cents I have in my WF checking acct.


38 posted on 03/15/2023 10:36:34 AM PDT by moovova ("The NEXT election is the most important election of our lifetimes!“ LOL...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: moovova

Maybe you can answer this question I have.

If I have a WF account in one state, and move to another state that also has WF banks, is my account still good with the WF bank in the new state or do I have to open a new account at that bank?................


39 posted on 03/15/2023 10:38:57 AM PDT by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
[ Post Reply | Private Reply | To 38 | View Replies]

To: seowulf

Paying bills has never been easier with auto-draft, online payments, Venmo, etc. It’s easy to let bills slide for a couple of months without logging everything into the Excel spreadsheet. The one thing I demand of myself is staying on top of the two checking accts we have. And, I do it the old fashioned way...the bank statement compared to the ledger, calculated on a 9-key...to the penny.

I doubt my kids have ever balanced a checkbook.


40 posted on 03/15/2023 11:01:47 AM PDT by moovova ("The NEXT election is the most important election of our lifetimes!“ LOL...)
[ Post Reply | Private Reply | To 35 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-45 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson