Date Received: 2024-02-26
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: Wells Fargo failed it's fiduciary responsibility to notify its account holder of account closure, which put me in a horrible financial position. This has caused me to miss bills, has impacted my credit, has forced me to put all of my expenses on high interest credit, and has caused me a plethora of emotional turmoil. On Friday, XX/XX/XXXX, I was in XXXX and noticed my checking account had been closed and the money had been withdrawn without any notice. Frantic, I called Wells Fargo to figure out why they pulled {$7500.00} for " account closure - physical address requirement not met, '' without proper notice. They informed me that my address has been reporting as invalid and they've been sending me post mail to fix this or my account would be closed. Obviously, the address is reporting as invalid so I did not receive any of this correspondence. I moved in from XXXX to XXXX in XXXX, and forgot to update my address ( this was a large move that required a lot of tasks ). Wells Fargo has 4 means of communication with me : phone, email, post mail, and notification within the digital app. All were up to date, expect for the mailing address, which they knew was invalid. Oddly, they used only mailing address to communicate with me. I did not receive a single email, call, text, or notification within the app to notify me that it was critical to update my address prior to the account closure. Wells Fargo told me they were sending my funds via post mail and it would take XXXX business days. I spent hours that day trying to reverse this account closure, ensuring they sent the check to the correct place, and filing complaints with them. If I didn't have a major credit card, I would have been completely stranded in XXXX for 5 days with XXXX ability to access funds. My account is " pending closure, '' and they told me there's nothing the can do to reverse it. I opened a online checking account from XXXX and tried to switch my direct deposits. Unfortunately, my next direct deposit from my employer ( {$6400.00} ) was accepted by wells fargo. Wells fargo support informed me that I could go into Wells Fargo branch and receive cash or a cashiers check for this money. I spent XXXX hours in Wells Fargo ( XXXX, GA ) on XX/XX/XXXX and XX/XX/XXXX, and they were unable to provide any funds. They told me I will have to wait XXXX business days for that check to arrive in the mail, but nothing has changed. Those new funds are still locked in this account, which is pending closure. All-together, there is approx. {$14000.00} held in limbo which I have no access to. This has caused me to miss payments on critical bills such as rent, car note, car insurance, motorcycle insurance, phone bill etc. I've also missed many smaller payments for the purchases that were on payment plans or monthly subscriptions. Also, all of my expenses have been forced onto a high interest credit card, which is running out of space. The emotional stress this is causing is severe. I delayed taking my dog to the vet for an injury because I was nervous to put a large payment on the credit card because I don't know when I'll see any funds. My dog was in too much pain, so I just placed another {$800.00} bill on my credit card. This card is approaching it's limit, and I don't know how I'm going to continue putting food on the table or gas in the car. Wells Fargo has blocked me from accessing, moving or withdrawing the funds in any way. Some bills are being rejected and some are being processed, which prohibits me from being proactive because I run the risk of making double payments, which I can not afford right now. Wells Fargo has failed its fiduciary responsibility to notify me, protect me, and provide me with any consistency or plan. They failed to notify me, which put me in a horrible financial position, impacted my credit with late payments, and trying to understand whats happening or what will happen is a complete mess. I'm getting different responses from different people. Some bills are processed and some are rejected. Direct deposits can enter the account but I have no ability to touch them after they enter. They had a system outage for 3 days ( XXXX ), so I received no information and had to wait out the weekend. On today 's call ( XX/XX/XXXX ) they again had no information to give me, and they cant explain how to get my funds or why they're " stuck. '' Ultimately, if a company has 4 forms of communication with a customer, and one starting reporting as invalid. How can a company utilize only the invalid form to notify the customer of account closure? This is highly reckless. Also, the process after closure needs to be more expeditious, more understood, and more supported. It has been incredibly slow, Wells fargo team members are not on the same page, and they actually seem to have no idea whats going on. Again, this failure by wells fargo has had very negative consequences for me in a wide range of areas.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 374XX
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: There been some fraudulent transactions on my Wells Fargo for some XXXX transactions and Wells Fargo is basically saying I did it. They are being really scummy and not following fdic regulations. The person I was talking to was basically saying I did it and she was no help at all. There process is completely dumb they said because it was my name that they cant reverse it. And this is a huge sum the lady on the phone made me feel like she didnt even want to be on the phone with me and it felt like a chore to her! Unbelievable. And I still havent been credited and this is a huge sum. ( Update ) today is the XXXX and I tried to talk to someone and I ask to be transferred to the executive office and they laughed at me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48823
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Unauthorized transactions or other transaction problem
Subissue:
Consumer Complaint: On or around XX/XX/year> a fraudulent transaction in the amount of {$1000.00} dollars was made using my financial institution 's money transfer service XXXX. The name of the individual on file the money was sent to is XXXX XXXX. This was the information that was given to me by the institution.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30013
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Problem with a purchase shown on your statement
Subissue: Card was charged for something you did not purchase with the card
Consumer Complaint: I was XXXX from XX/XX/XXXX, XXXX XXXX, 2023 ( which I sent proof of ) and there was {$48000.00} on a charged off business line of credit ( credit card # XXXX ) for my business, XXXX XXXX and XXXX XXXX XXXX XXXX. The perpetrator did make charges prior to the listed dates as well ; However I did not catch it. I have disputed it with Wells Fargo with XXXX FTC reports, a Police report, and proof that I was XXXX yet, they still deny it even though the same thing happened to my other business account with them that they accepted ( XXXX XXXXh $ XXXX Acct # XXXX ). I have disputed it multiple times and they deny that it was fraudulent. I tried to do everything I can ; However, I refuse to pay fraudulent charges that are being handled with integrity by Wells Fargo. They need to rectify this and remove ALL of the credit card balance from my charged off account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32792
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: I have been unable to open a banking account with any bank.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33511
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Closing an account
Subissue: Funds not received from closed account
Consumer Complaint: My name is XXXX XXXX XXXX I received an email on XXXX XXXX stating this Wells Fargo performs ongoing reviews of its account relationships in connection with the Banks responsibilities to manage risks in its banking operations. We recently reviewed your account relationship and, as a result of this review, we will be closing your above referenced accounts because of one or more money transfers to your account reported as unauthorized. The accounts are expected to close by XX/XX/year>. Please note that the Bank reserves the right to close the accounts sooner if circumstances arise that warrant an earlier closing. Be aware that some circumstances may delay the closure of your accounts. To learn more, refer below to " What may delay account closure? '' Please review the following important information to help you prepare for this transition. What this means for the accounts listed above as of the date of this letter : Deposits have been blocked. If you have recurring deposits ( for example, your paycheck or pension ), please redirect the deposits to a non-Wells Fargo account. If your account balance is or becomes negative and you would like to make a covering deposit or transfer, contact XXXX to arrange for the temporary ability to make a deposit. Withdrawals and payments have been blocked. You may no longer access these accounts with your debit card. No new transactions will be authorized. However, we must pay certain transactions that are received for processing before your account is closed, even if this creates a negative balance in your account. This includes the payment of any previously authorized transactions ( for example, debit card purchases ), but no overdraft fees will be assessed if you do not have sufficient funds in your account. We must also process the reversal of any previously credited deposits that are returned unpaid and may assess a returned deposited item fee. Recurring payments you previously established will be declined and checks will be returned unpaid. While we will not assess an insufficient funds fee on these transactions, the merchant you attempted to pay may assess returned payment fees. Contact these merchants as soon as possible to make other payment arrangements. and on XXXX XXXX I called to see if my payroll check went in my account and my tax refund and the representative in lost prevention said no is going to post tomorrow in the morning and you can go into a branch with ID and you can retrieve your funds and I went into a branch on XXXX XXXX but there was a block and I couldnt get my funds because they closed before the block was removed and on XXXX XXXX I didnt work so I could go to the bank and get my money because I dont have money for gas food or to pay my bills and there the banker XXXX from wellsfargo bank in XXXX called them to remove the block and they told her that they cant give me my money that they were going to send me a cashiers check until XXXX XXXX and the banker also was concerned about what they told her and she summited a report about this situation because i told her i need money to go to work for gas and food i have kids i need to feed and i dont have money at all she said she couldnt help me i called the bank and also they said they couldnt help me so i told them how did you say no transactions where going to come in my account but you let my payroll check go in and taxes and they said that when I called on XXXX XXXX that i ask to process in which i told them i never ask for that i only ask where was my checks and there not giving me no money and i really need it to buy food for my kids
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95206
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Took or threatened to take negative or legal action
Subissue: Threatened or suggested your credit would be damaged
Consumer Complaint: Wells Fargo for several years have given me misleading information the run around with incorrect information made statement they mailed documents to correct my mortgage servicing. See detailed chain of events attached.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 38016
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I am writing to report a serious incident of unauthorized withdrawal and fraudulent activity that occurred on my Wells Fargo checking account ending in XXXX. On XX/XX/XXXX of this year, an unauthorized withdrawal of {$940.00} was made from my account without my consent or knowledge. Upon discovering this fraudulent transaction, I immediately contacted Wells Fargo to report the incident and filed a claim asserting that I did not authorize nor execute this withdrawal. I provided all necessary details regarding the unauthorized transaction, including the date, amount, and specific account information. Despite my prompt action and thorough explanation of the situation, the response from Wells Fargo was deeply unsatisfactory. After weeks of investigation, they informed me that my case was closed, asserting that there were no signs of fraud and refusing to return my stolen funds. This decision was made despite clear evidence to the contrary. Furthermore, during my own investigation into the matter, I uncovered additional instances of fraudulent activity on my account. The perpetrators also initiated phone transfers from my savings to my checking account, transactions which I did not authorize or execute. Additionally, they used a new debit card that I was expecting to receive in the mail but never did. These actions further confirm the malicious intent behind the unauthorized access to my accounts. I am particularly distressed by the fact that Wells Fargo allowed these transactions to occur without alerting me. Normally, when I withdraw over {$500.00}, I receive an alert before being able to make the payments. The absence of such alerts in this case suggests a failure on Wells Fargo 's part to uphold their standard security measures and protect their customers ' accounts from fraudulent activity. In light of Wells Fargo 's wrongful closure of my case and refusal to address the fraudulent activity on my account, I am seeking assistance from the Consumer Financial Protection Bureau to rectify this situation. I urge you to investigate this matter thoroughly and take appropriate action to ensure that Wells Fargo fulfills its obligation to protect its customers from fraudulent activities and reimburses me for the unauthorized withdrawal from my account. Thank you for your attention to this matter. I trust that the Consumer Financial Protection Bureau will take swift and decisive action to resolve this issue and hold Wells Fargo accountable for their failure to safeguard my financial assets.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 770XX
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-26
Issue: Managing an account
Subissue: Problem with renewal
Consumer Complaint: 13 month CD opened at Wells Fargo Branch, ( branch now closed ) -- > XX/XX/XXXX OPENING CERTIFICATE DEPOSIT {$29000.00} attempted to close the CD over the phone at the Maturity Date XX/XX/XXXX was told that changes cant be made until maturity. So no change to account. Was informed that I could call and make changes in the grace period to renew for another term or close the account. Called back during the grace period to renew the certificate at the 7 month 5.01 % APY rate. Was told that it is not in fact possible to make the transaction over the phone, and I would be required to arrive in person. I was traveling and unable to come in person to the branch. Upon my return home I visited the branch in-person during the grace period and was told that they couldn't meet and carry out my transaction because there was no " banker '' on staff. Then, was also informed that because I am outside the grace period I have a penalty for changes now. I was told on the phone in XXXX, that the grace period was 7 business days, and then they said it was 7 calendar days. Its also not clear when the 7 days counting begins? At the maturity of the original CD or from the renewed deposit date for the current account? A combination of unfair and deceptive practice by the Bank and its employees have resulted in a lost opportunity for free and fair choice in managing my accounts, while also incurring fees imposed by the Bank.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CT
Zip: 06511
Submitted Via: Web
Date Sent: 2024-02-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2024-02-24
Issue: Managing an account
Subissue: Deposits and withdrawals
Consumer Complaint: I was involved in my daughter 's job scam incident. She found out the she was being frauded and we filed a police report, she also filed reports with the FTC, SEC, FBI IC3 and AG FL. We then were directed to file disputes with the bank accounts involved. I tried filing with Wells Fargo on XX/XX/24. I was met with hostility and resistance. The agent said there was no way to file these transactions for a dispute. I hung up to call back and speak with someone else who told me the 2 disputes were filed previously. I received a letter in the mail dated XX/XX/24 stating that only 1 of the disputes were filed and it was denied. Wells Fargo knew I wanted to send in documents showing this and was told I would be contacted by the bank to send it in. There was no communication from Wells Fargo in this investigation. I called back on XX/XX/24 to appeal and was told I can not file an appeal. The supervisor, XXXX was extremely rude. She began reading definitions of fraud and scams and was being very demeaning. The second dispute was never filed, I was told that disputes with XXXX can not be filed with Wells Fargo, they are a separate company. I had to call back a second time and speak to someone else who finally filed the dispute for the XXXX transaction.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33054
Submitted Via: Web
Date Sent: 2024-02-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A