Consumer complaint received 2023-04-19
Company: WELLS FARGO & COMPANY
State: FL
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
On XX/XX/XXXX, I initiated a bank to bank transfer from my account at Wells Fargo to my personal account at XXXX XXXX XXXX  XXXX XXXX XXXX. I input the account information and routing number for the account at XXXX XXXX XXXX  XXXX XXXX XXXX. When the confirmation screen appeared, the bank name listed was XXXX XXXX XXXX. I did hit the confirmation button. Although I did not recognize the bank name, I do know that banks merge so it was not extremely concerning. Within the next few days, I did not receive the transfer in my account at XXXX XXXX XXXX  XXXX XXXX XXXX. I immediately contacted Wells Fargo by phone XXXX, on XX/XX/XXXX or XXXX. They stated it may take 2 to 3 business days. The funds did not arrive and I opened a dispute/investigation with Wells Fargo on XX/XX/XXXX. After many days/weeks, Wells Fargo told me that the funds went to an account at XXXX XXXX XXXX that I was an owner or signer on and I should contact XXXX XXXX. I did that as well, see attached emails. In one conversation with XXXX XXXX, they explained that I am not a signer nor owner on the account and stated that my bank ( Wells Fargo ) should perform an ACH recall. Wells Fargo stated that there is no such option as an ACH recall. After opening serval claims, Wells Fargo stated that I had verified this XXXX XXXX XXXX account in XXXX of XXXX with small dollar deposits. I went back to every Wells Fargo account statement on file via on line banking and I did not have an account dating back to XXXX of XXXX. Wells Fargo finally told me that the account at XXXX XXXX XXXX  where the funds were deposited was in the name of XXXX XXXX XXXX. I have searched the internet for this business and found 3 companies with this name in Tennessee, Mississippi, Virginia. I have tried contacting all and none will return my call. I live in XXXX, Florida with no ties whatsoever to this business. I have asked Wells Fargo for all documentation used to investigate this claim, copies of the " verification process '' allegedly done in XXXX, and asked for Wells Fargo to initiate an ACH recall. I have not received any documents of significance. See attached. XXXX XXXX XXXX  also stated that there has been no recall request from Wells Fargo. This transfer was in the amount of {$10000.00}. Wells Fargo has been unable to produce any documentation to prove that I verified this account in XXXX of  XXXX, nor has there ever been a transfer to this account in the past 6 years from my account. Wells Fargo claim numbers have been : XX/XX/XXXX - XXXX, handled by on line customer service department, XXXX XX/XX/XXXX - XXXX and XXXX, handled by the executive office XXXX XX/XX/XXXX - XXXX, also handled by the executive office, XXXX This is a concise summary. However, I have spent over 30 hours calling, visiting both Wells Fargo and XXXX XXXX XXXX emailing the banks, looking through my own records to see if there was any chance I forgot about an old account. What is terrible is that it was only after 20 hours of work and 7 weeks did Wells Fargo provide the receiving account name, XXXX XXXX XXXX. Had the Bank been forthcoming and honest with me as their consumer, I may have been able to contact XXXX XXXX before the funds may have been spent. 






THEY TOLD ME THE MONEY WENT TO MY ACCOUNT WITH XXXX XXXX XXXX ( WHERE IS THE VERIFICATION THAT THIS ACCOUNT IS MY ACCOUNT ... WELLS FARGO WILL NOT PROVIDE THAT PROVE ). I DONT HAVE AN ACCOUNT AND THEY SAID THEY VERIFY IT WAS MY ACCOUNT. THEN THEY TOLD ME IT WENT TO XXXX XXXXXXXX XXXX. 
I UNDERSTAND THE COMPANYS RESPONSE TO MY COMPLAINT Yes ADDITIONAL COMMENTS THEY TOLD ME THE MONEY WENT TO MY ACCOUNT WITH XXXX XXXX XXXX ( WHERE IS THE VERIFICATION THAT THIS ACCOUNT IS MY ACCOUNT ... WELLS FARGO WILL NOT PROVIDE THAT PROVE ). I DONT HAVE AN ACCOUNT AND THEY SAID THEY VERIFY IT WAS MY ACCOUNT. THEN THEY TOLD ME IT WENT TO XXXX XXXX ACCOUNT, WHO I DONT KNOW WHO THEY ARE OR HAVE NO RELATIONSHIP WITH THEM. WELLSFARGO SWITCH MY RECEIVING BANK AND THIS ISSUE IS HAPPENING TO EVERYONE. I NEED PROVE OF THE VERIFICATION OF THE TRANSFER WHICH IT HAS NEVER BEEN PROVIDED THEY TOLD ME THEY VERIFIED THE ACCOUNT THAT IT WAS MY ACCOUNT, I NEED PROOF. THEY WILL NOT PROVIDE PROOF. THEY SWITCH THE RECEIVING BANK.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation