Consumer complaint received 2023-01-06
Company: WELLS FARGO & COMPANY
State: AK
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Other transaction problem

Complaint:
I have been trying to fix a mistaken transfer with Wells Fargo for a year and a half. 
The wire transfer of XXXX  was deposited into the wrong account, as the sender ( XXXX XXXX which is my brother, and lives in XXXX ) committed a mistake in the account number of the recipient, nevertheless the name and address of the recipient were correct. 

Every time I talk to Wells Fargo ( at least 30 or more times ), they say that the originating bank in XXXX is responsible. 

The originating Bank in XXXX made a thorough investigation, and Wells Fargo Bank responded that the wire was deposited into another account holder of Wells Fargo Bank, and they couldn't retrieve it. ( Letter attached from Wells Fargo ) and attached wire transfer too. 
Wells Fargo keeps on saying they are escalating and escalating this complaint which has more than XXXX years and nothing gets resolved. 
I copy the letter sent by my brother to Wells Fargo which has all the corresponding dates : Dear Sirs : On XX/XX/2021, I instructed an electronic transfer ( wire transfer ) of US XXXX from my company account XXXX XXXX XXXX XXXX XXXX - XXXX XXXX XXXX XXXXXXXX XXXX XXXX in XXXX to my sisters Wells Fargo Account. Attached a copy of the wire transfer instructions. 
Unfortunately, I incorrectly indicated as account the number XXXX, being the correct as indicated above, without prejudice to the fact that the name and address of the beneficiary were correct, this is XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX, Alaska. 
On XX/XX/XXXX, when I noticed that the funds had not been credited to my sister 's account, checking the wire transfer instruction I noticed the mistake, immediately informing XXXX XXXX XXXX XXXX XXXX so that they could initiate the pertinent steps to recover the funds. From then on, the executive of my local bank informed that they were going to make the necessary arrangements with Wells Fargo Bank to recover the funds. 
After 3 months, on XX/XX/XXXX, I received a letter from XXXX XXXX XXXX XXXX XXXX, signed by the XXXX XXXX XXXX, attached, excusing themselves from all responsibility, since they had executed the order as indicated in the wire transfer instructions, with the wrong account number. In addition to this letter, my executive at XXXX XXXX XXXXXXXX XXXX XXXX informed me that Wells Fargo Bank had executed the instructed order only taking as a reference the wrongly indicated account number and not the name of the true beneficiary receiving the funds a thir-party, owner of the account wrongly indicated. Also, they told me that Wells Fargo has requested to such third-party the return of the funds and that such request was denied. 
What seems strange and the reason to contact Wells Fargo Bank, is the fact that after the request of Wells Fargo Bank to the third party that received the funds incorrectly, XXXX denied its return, considering that those funds does not belong to such third party and therefore has no legal cause to receive and withhold them. In our banking legislation in XXXX, that third party is considered an illegal recipient of funds as there is no legal cause, not allowing to take advantage and appropriate such funds being returned in almost all cases. 
I would be very grateful if you could review this case again and analyze possible solutions, those funds are relevant to my sister, and we feel uncomfortable to accept that they have been illegally appropriated by a third party based only on a numerical account number error that may occur and not having a possibility of recovery. 
We also have in Wells Fargo joint owned account number XXXX, therefore I am also a client of Wells Fargo Bank. 
Your help and assistance is highly appreciated. 
Best regards,

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