On Wednesday, some Wells Fargo customers were shocked to find their bank accounts drained to zero after a glitch caused their online bill payments to be processed twice.
» RELATED: Wells Fargo customers find accounts drained by mistaken double charges
In some cases, the gaffe dropped a few customers’ balances to zero - or below zero - triggering the possibility of overdraft protection fees.
People flooded the customer service lines with calls and were told their accounts would be restored overnight.
“We are aware of the online Bill Pay situation which was caused by an internal processing error,” Wells Fargo communications manager Hilary O’Byrne said in a statement late Wednesday. “We are currently working to correct it, and there is no action required for impacted customers at this time. Any fees or charges that may have been incurred as a result of this error will be taken care of. We apologize for any inconvenience.”
While the issue was resolved for many by Thursday morning, here’s what you should do if you’re affected by a banking error:
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Contact the bank right away.
Call the bank immediately to notify a customer service representative that you have been affected by the error. It’s important to confirm any charges with the bank in order to restore your balance.
Freeze your account.
Put a hold on your account to block further purchases or automatic payments. This will prevent any additional charges that can cause your account to incur extra overdraft fees.
Notify companies linked to you bank account.
If your bank account is linked to other bill payments, contact those companies to inform them of the error. Once the issue is resolved, additional payment made to those companies should be refunded to your bank account.
Consider checking your credit.
Many may be dealing with credit concerns. Is my credit card safe? How can I protect my credit? If you're having any doubts, think about protecting and monitoring your credit by using reputable credit reporting agency.
