Consumer complaint received 2023-06-04
Company: WELLS FARGO & COMPANY
State: SC
Product: Checking or savings account
Sub-product: Checking account
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:
I received my XXXX XXXX XXXX Mastercard statement from XXXX, dated XXXX XXXX, 2023, with the due date on XXXX XXXX, 2023. The amount was {$9300.00} and payable to XXXX, with my credit card number ending in XXXX. I sent my Wells Fargo check # XXXX, dated XXXX XXXX, 2023 for {$9300.00}. Since I did not see XXXX showing it as received, I contacted Wells Fargo, on or abouXXXX XXXX XXXX XXXX XXXX  They told me it was cashed but paid out to somebody named XXXX XXXX, instead of XXXX. They closed that checking account. They immediately opened up a fraud cast. That day I was told I would be reimbursed if this was a fraud. It was evident that somebody stole my mail and changed the payee to XXXX XXXX. I asked several times where it was deposited or cashed, but they never told me. 
In order not to be late with XXXX, I paid the {$9300.00} with my XXXX checking account. 

Everybody from Wells Fargo I spoke with, including my branch, told me that I would be reimbursed as long as it was found to be fraudulent. Probably about 8-10 different people told me that. They also told me it would probably take about 10-14 days. 
In the meantime, I went the police department to file a police report, as backup. The police told me I would need an Affidavit of Fraud from Wells Fargo, to file a report. So I asked my branch for that. They told me they did not have such a form, even though I told them that the police told me that all banks have that form and that they needed it to file a report. They never gave me that form to go to the police with. Very fortunately, the police finally were nice enough to do the police report for me, even though they again told me on 3 occasions that Wells Fargo and all banks have that form which is their basis for filing reports on fraudulent situations involving banks. 

On XX/XX/XXXX, I went to my branch to get an update. I was informed that having proven my case was a result of fraud, now would not result in me getting reimbursed. My advisor at the bank even submitted a complaint to Wells Fargo for me stating that i was told by everybody, including my advisor, that would be reimbursed once it was determined to be fraud. 

I think what is going on here is that Wells Fargo is experiencing lots of fraud like this. With the amount of money possibly being very substantial, I think they have decided NOT TO REIMBURSE their customers in these fraudulent check situations, saving them a great deal of money. I think, if true, they are engaging in fraud against their customers. I might add that I am a premier customer so you can imagine what goes on with their average customer. 

I strongly recommend opening up an investigation, to see if they are practicing fraudulent practices with their customers. Based on their history of fraud, I would not be surprised if this is a widespread situation saving them millions of dollars at the expense of their customers. 

PLUS, anything you can do to get my {$9300.00} put back into my checking account would be greatly appreciated.

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