Consumer complaint received 2022-11-08
Company: WELLS FARGO & COMPANY
State: NC
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I was scammed and given a counterfit check. I have reported this to the FBI, FTC, Federal Reserve and Local Law Enforcement. I was advised by the police to file a report against Wells Fargo for unsafe banking habits. I deposited the {$3800.00} check on XX/XX/XXXX in person at a local branch. I clearly told the teller I had never received a check from this party before and I wanted to be sure the check was " good '' to keep me safe. She scanned the check and told me " it looks good ''. I told her again I was just nervous and wanted to be sure everything was safe that's why I waited after the long weekend to deposit it in person. She informed me IF the check cleared the funds would become available in my account. Less than 24 hours later the full amount of the check was available in my account. So I was under the impression the check was good and I was good to go. ( Why would I think any different? No one ever informed me of this " good faith cashing '' that it is now being referred to as ) The person who sent the check was now saying he needed the money sent to a personal shopper for the tasks I was going to fulfill since they had access to new coupons for the items he needed. Since the money was cleared and available I saw no issue with it. I sent {$2500.00} on the XXXX of XXXX. That night around XXXX XXXX I received a call from Wells Fargo stating they were shutting down my account. 
I was irate! They had no other information for me and told me they were already closed so I could not find anything more out until the following day. On the XXXX at exactly XXXX I called Wells Fargo to find out what was going on. The Wells Fargo employee told me they had flagged my account and frozen the funds SINCE THE CHECK HAD NOT YET BEEN VERIFIED. I was very confused and scared. I explained to the woman I had never received a check drop this party before and that I made that very clear when I had initially cashed the check. I was almost in tears and the woman said not to worry. If I could wait on the line for a XXXX minute hold she would VERIFY the check right then to clear all this up. So I went on hold and waited. Roughly XXXX minutes later she returned on the line and said she personally verified the check, that it was good and all the funds were available again, also that my account would not be getting shut down. I clarified the words " so nothing fraudulent is happening here? '' And she stated " NO ''. I was very gracious and thankful to her. The funds were instantly available to me again. And after hearing that confirmation I thought for sure this time it must be good. So I wired another {$1000.00} to the personal shopper. Just to receive an email that night saying again that my account was getting shut down but to a fake check! I was soo confused I called Wells Fargo instantly and asked what was going on, I had just had a conversation with an employee that day and she clearly stated that she had personally verified the check and that nothing fraudulent was happening! The new woman on the line said that was not the case. The check had never been verified, that the check was " cashed in good faith '' and the money was never mine. That it was Wells Fargos money and now that the check is coming back unpaid I am responsible for paying Wells Fargo back. I was furious! I told her that doesn't make any sense. I had been told by multiple Wells Fargo employees that the " check was good '' " check was verified '' " nothing fraudulent was happening ''. The woman on the line said she doesn't understand why that was said to me since it was not true. She also told me that I would have 60 days to pay the money back or Wells Fargo could possibly press charges against me!! I explained as much as I could and the woman said there was nothing she could do for me. I started filing with multiple institutions for the fraud and while reporting it at the police station they advised me to file a complaint or if possible get legal representation since I was lied to and now being held responsible. I would have NEVER sent the money if I had known the check had not yet been verified. I had no idea there was such thing as " cashing a check in good faith ''. There is absolutely nothing in my banking history that would lead anyone to believe I would be capable of paying such a large sum back, and I never once asked to rush the check or try to convince anyone it was good. Quite the opposite I informed all employees of my own caution and my desire to keep myself safe! I spoke XXXX more times to Wells Fargo employees on the phone and both stated they have no idea why the funds would have been made available in full in less than XXXX hours. That it is USUALLY policy that they hold checks, of that amount and from new parties until they have been verified. XXXX of the employees must have sent my complaint over because I was contacted by the complaint department and they said " they are sorry for the miscommunication and also that it is normally their policy to hold the checks of that amount until they are verified ''. Why was my case handled unnormally?? Why would I be held responsible for their miscommunications and their unsafe moves to make funds availble before they should be? They investigated the case, and the XXXX  transactions but said that unless the funds are returned they can not help me. This sounds preposterous to me! An apology does nothing for me!! Due to their multiple miscommunications I am now having to pay XXXX money I DO NOT have!! Where does the safety of the account holders come in? When does Wells Fargo protect their account holders? Not once was I ever told or informed of what was really going on. And I was actually lied to! And due to those lies from Wells Fargo employees I now have to pay the price. It is not right! I have a case number for the fraud case that is pending, I have a claim number with the FTC and copies of the complaints with the Federal Reserve and FBI. The police said it is a clear cut case of scamming and that Wells Fargo would have no right to press charges against me. Please help me understand how this is possible.

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