Consumer complaint received 2023-10-14
Company: WELLS FARGO & COMPANY
State: GA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem making or receiving payments

Complaint:
On Friday, XX/XX/XXXX my checking account was accessed by fraud and a person claiming to be with Wells Fargo fraud dept.

Wells Fargo claims to offer 24/7 fraud protection yet numerous suspicious events took place from Friday, XX/XX/XXXX - Monday, XX/XX/XXXX. 
Wells Fargo fraud dept is closed on Saturday and Sunday. This is misrepresentation on the part of Wells Fargo as they state 24/7 fraud protection. 
On Monday, XX/XX/XXXX I drove to a local branch ( I was in NC helping my XXXX XXXX XXXX father prepare for XXXX has he was just diagnosed with XXXX XXXX XXXX. He was XXXX and very active prior. I mention this as I was not in XXXX - my home ) While on the phone with the perpetrator, I received a call from the real Wells Fargo fraud dept who informed me my account appears to have been violated. This means the activity on my account was suspect but no one reached out until Monday as they are NOT watching XXXX related activity on Saturday or Sunday. 
Additionally, the text communications used to verify my account - by the perpetrator- are confusing and need to be addressed. 
While at the branch on XXXX there was no documentation as to the suspect activity by Wells Fargo. Even after opening a claim at the branch, no notes were made other than they closed my accounts and opened new ones- assuring me my funds would be safe. 
However, {$6000.00} in 'pending " unauthorized XXXX funds were processed out of the new account on XX/XX/XXXX. 
On XXXX, I recieved the same emails indicating someone other than myself was unenrolling my email in XXXX. This was the new account. Again, this happened on a Friday and the Wells Fargo representative I called on Friday at XXXX XXXX told me " the fraud dept was closed for the weekend '. She froze access to my online account. 
I had to call back on Tuesday to try and regain access. 
There was a class action lawsuit in filed on XX/XX/XXXX by a XXXX resident ( XXXX XXXX ) for {$7500.00} for the same type of fraud. 
It was volunarily dismissed without prejudice. No reasons were given. 
Wells Fargo has denied {$14000.00} in unauthorized XXXX transactions. They have not provided me with ANY proactive outreach to assist with this. I tried to conference in the real Wells Fargo fraud dept in on my call with the perpetrator while driving to the branch. Both calls dropped and I never recieved another call from Wells Fargo- nor were notations made when it was 100 % clearn my account and funds were in jeopardy. 
I only use XXXX integrated with the WellsFargo app. WellsFargo needs to afford the same protection for use of this XXXX funds transfer or make it VERY clear prior to activating integration that they will NOT support this product with the same vigor they do their private label products. 

I also have an issue with the method by which they allow consumers to change their passwork on their online banking. WellsFargo uses 2 different text messages to communicate account authentication. It is clear they have had issues with the text method for changing passwords by their unsuccessful attempt to make the verbiage more clear. The veribiage on the account authentication text DOES ask the consumer to provide a code to the bank. It is very confusing to the consumer that they do ask us for a code in one instance and tell us not to provide a code in another instance. A simple change to this method would eliminate this. Instead of sending a text with a code, they could provide a phone number to get a code to update their password as this is the EXACT procedure used when i was in the bank on XXXX. They have a more secure method and do not use it leaving the consumers vulnerable. 

I am not the only one with this issue. I posted on social media for others who have experienced this same type of fraud. Since posting on XX/XX/XXXX, I have XXXX other people who have reached out. 

XXXX XXXX ( XXXX XXXXXXXX, XXXX ) singled out Wells Fargo for " Alarming pattern of XXXX Fraud ''. XXXX states WellsFargo appears to have substantially higher rates of XXXX related fraud as compared to other banks. 

This needs to be stopped. Please help me. I plan to pursue legal action if this is not resolved. I plan to reach out to XXXX XXXX 's legal firm. Consumers need to know how flippant WellsFargo is in protecting its consumers. 

While at the XXXX XXXX ( XXXX ) branch in GA I was assisted by XXXX XXXX XXXX in trying to escalate this matter. She was very helpful but was met with indifference by the fraud team members and escalation dept. She, and the others at the branch, were is disbelief as to the series of blunders related to my case.

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