Do You Qualify For The Wells Fargo Overdraft Fee Class Action Lawsuit?

Wells Fargo, one of the largest banks in the United States, has faced numerous lawsuits and scandals over the years, including one related to overdraft fees. If you have a Wells Fargo account and have been charged overdraft fees in the past, you may be eligible to join a class-action lawsuit and seek compensation. In this blog post, we'll discuss the Wells Fargo overdraft fee class action lawsuit details and help you determine if you qualify.

What Is the Wells Fargo Overdraft Fee Class Action Lawsuit?

The Wells Fargo overdraft fee class action lawsuit was filed between 2017-2018 and accused the bank of manipulating debit card transactions to maximize overdraft fees. The lawsuit claims that Wells Fargo reordered transactions in a way that would trigger multiple overdraft fees instead of just one.

For example, if a customer had $100 in their account and made three transactions in one day - for $50, $75, and $125 - Wells Fargo would process the transactions from highest to lowest, resulting in three separate overdraft fees instead of one. The lawsuit alleges this practice was deceptive and unfair and violated the bank's customer agreements.

Who Is Eligible to Join the Lawsuit?

You may be eligible to join the lawsuit if you had a Wells Fargo checking account between May 2005 and July 2010 and were charged overdraft fees due to the bank's reordering practices.

Additionally, suppose you had a Wells Fargo account after July 2010 and were charged overdraft fees due to the bank's reordering practices. In that case, you may be eligible to join the lawsuit if you opted-in to the overdraft service and still need clear disclosures about the bank's practices.

How to Join the Lawsuit?

There are several ways to join the Wells Fargo overdraft fee class action lawsuit. You can first speak with a representative from Wells Fargo, file the correct claims forms online or by mail, or look into a consultant or legal firm that handles bank overdraft lawsuit proceedings. It's essential to act quickly if you believe you are eligible. You must provide information about your Wells Fargo account and your mischarged overdraft fees. You can contact a settlement administrator with any questions about the claims process. 

What to Expect for Compensation?

The compensation you may receive from the Wells Fargo overdraft fee class action lawsuit depends on several factors, including the number of overdraft fees you were charged and the total amount. The amount you are entitled to vary depending on the number of claims filed and other factors like how often the fees affect you. 

Find Out How to Receive Payment If You Were a Victim of a Wells Fargo Overdraft Fee 

Suppose you had a Wells Fargo account between May 2005 and July 2010 or after July 2010 and were charged overdraft fees due to the bank's reordering practices. In that case, you may be eligible to join the Wells Fargo overdraft fee class action lawsuit. Filing a claim is straightforward, and you may be entitled to compensation for your illegal fees.