Consumer complaint received 2017-09-16
Company: WELLS FARGO & COMPANY
State: NV
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Problem with a lender or other company charging your account
Sub-issue: Money was taken from your account on the wrong day or for the wrong amount

Complaint:
In XX/XX/XXXX I had a meeting with XXXX XXXX Business Sales Consultant Rep Code XXXX and XXXX XXXX my personal banker regarding merchant services. I opened a new business and needed merchant services. I was researching services and had chose to go with XXXX because I had an existing relationship with them for 3 years in another business and was very happy. XXXX asked me to talk to XXXX and see if he could beat or match them. At the meeting I asked many questions comparing the service Wells Fargo had to offer and XXXX. Finally it came down to the cost of the equipment, XXXX was {$840.00} to purchase the exact same POS system as Wells wanted {$1400.00}. XXXX used a coupon for {$300.00} off Merchant services as a tool to convince me that the cost would only be {$1100.00} and it was a better set-up and he would do training. this was his sales pitch to combat the difference in cost. He said it would reduce the cost of my equipment. I finally agreed and the equipment was shipped and installed by XXXX. I was told when I signed the purchase/merchant agreement I would be billed in approximately 40 days after installation. I was automatically debited in my business bank account the same of {$1400.00} approximately on a payroll day. The account to this point was new and I was not putting money in the account on a regular basis, and the moment I funded the account for payroll this large debit for this equipment was posted causing problem with payroll checks. The bank sent no notice, via text, email, phone call all of which they notify me of so many other things with these methods, but not this debit. I called and XXXX was not available, his boss was not available, I called my personal banker, she could do nothing she tried to find someone in that department to help me. I was told to call the XXXX  merchant help line, which took 33 minutes to be answered from being on hold. I explained that this debit appeared in my account what was it for and I was told it was for the purchase of equipment. This representative made me so angry and I got so mad that the more they talked about leasing and the more I said I was not interested, but the cost of the equipment was suppose to be reduced by {$300.00} that this representative later wrote in the notes I wanted leasing, so I was presented with lease paperwork, I called and stated I did not want to lease I wanted to pay for this equipment at the price promised to me. When XXXX finally 3 days later called me back, his story changed, the credit was not for the equipment it was to be taken off future merchant service fees. I said no you used this as a cost reduction for the equipment and he tried to explain that it did n't matter how I got the {$300.00} I was still getting a credit even if it was in small amounts over time. I said that is not what you promised, he was so rude and arrogant that he specifically explained to me how the credit worked, XXXX the Personal Banker was on the line during this call and she agreed, I said no you used this as a tool to lower the cost of the equipment, XXXX just kept repeating whats the difference you still get {$300.00}. He also stated that he did notify me of the debit when I signed the paperwork that it would be approximately 40 days after. I said who can keep track of a 40-day notice and why was it done when I put my payroll money in the account, I said because prior there would not have been enough money for this debit, but if you would have notified me of an exact date I would have made sure the debit would clear, but you caused problems with payroll checks and it was unprofessional and you lied during your sales pitch to me to get me to go with Wells Fargo by promising a discount on the equipment, I would have not gone with Wells knowing I would be charged this full price for the equipment and this {$300.00} would be deducted over time from my fees. In addition I have not seen one credit for merchant fees, Wells is charging excessive fees, I have contacted this merchant phone number but can not get connected in a reasonable time. I can not hold for long periods, I have a business that I work and customers do n't like to wait while I am on hold. I was charged on XX/XX/XXXX four separate charges totaling over {$170.00}. The merchant statement shows only a {$54.00} fee due. the charges are just automatically taken from my account, no explanation except Merchant Fee on my statement and a difficult time to reach this merchant service help desk for service. XXXX does not return calls or return email since I contacted his boss regarding the sale of the equipment. His boss was a brute, arrogant, loud and abrasive. He kept asking me what will it take to make you go away, how much {$1500.00}, just let me know. He said he would call back in about 2 hours and finish this problem right then and now, but he never called back, he did n't return my calls, and I made several attempts to find his boss by calling Regional District Manager XXXX XXXX, but she did not return my calls either, the XXXX number did not know who this guy worked for either. I lost his name and number somewhere, but I had it when I called trying to obtain his boss. This guy was a real piece of work, he was badgering me, yelling at me trying to get me confused even further, he was not interested that his sales representative had lied to make a sale, I can see why XXXX acts the way he did over this because of the attitude of his boss.

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 monetary relief