Consumer complaint received 2023-05-09
Company: WELLS FARGO & COMPANY
State: DC
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Other service problem

Complaint:
On XX/XX/XXXX I sent a wire payment to a party with whom I have a professional relationship. The wire was for {$560.00} and included {$45.00} in wire fees. After I sent the wire, the receiving party contacted me to notify me that I had put the incorrect recipient name in the wire transfer, and as a result the receiving bank would not release the wire transfer. The receiving party asked if there was anyway to adjust the recipient name. If not the receiving party offered to reject the wire payment and have it sent back, but indicated Id likely lose the {$45.00} wire fee I paid to Wells Fargo for the transfer. I said I would call WF and ask if the recipient name could be changed on the wire payment. They said theyd need to open a claim to explore fully and it could take up to XXXX calendar days to resolve. I expressed some frustration- this appeared to be a yes or no question. It was my understanding that once outgoing wires had been completed there was very little that could be done to change them. I expressed this view point to the banker with who I spoke. They told me that it might be possible and advised letting the claim process play out. XXXX  days into the claim period ( so on or around XX/XX/XXXX ) I called Wells Fargo to inquire and the status of the claim. I was passed around their call center XXXX different times even though i had a reference number that i was very clear about when I called. It took me over XXXX Minutes to get someone on the line who could investigate the status of my claim. Once i finally got someone who could help they he no substantive update for me and said it was still in progress, but as we were approaching the XXXX  day claim processing time someone should be in touch with a response in the next couple days. I reiterated my concern that the answer was a simple no you cant change the wife info and told the rep it would be easy enough to ask the recipient to reject the wire transfer. They advised that I dont do this and encouraged me to let the XXXX  day claim period play out ( suggesting it would be possible to change the recipient name ). XXXX  days passed with no response. I called several times over the next week. Each time i was passed around several times and each time I called I had to wait for over XXXX minutes to get someone on the phone. On of around XXXX XXXX or XXXX when I called I called I was told that I had previously been given incorrect information and that the claim waiting time was XXXX  days not XXXX  days and that I was approaching the XXXX  day mark so someone should be in touch soon. Again I asked if I should just have the recipient to reject the transfer. They advised against that. After the XXXX  day mark I called. Again I provided the claim reference number. Again I was passed around again and again. Again I held for XXXX minutes. Once I finally got someone they said I was given incorrect information and that the review period was XXXX working days and that someone would be in to un soon. I pleaded and begged for an update. After XXXX business days had passed I called back. Again passed around the call center. Again waited XXXX minutes. Still no update. I told them I was not getting off the phone until I talked with someone who could give me information about the claim. They said ok and I was on hold for over an hour. I told the rep I couldnt wait anymore and I asked for someone to contact me within XXXX hours. They promised someone would be in touch. Nobody was ever in touch. I completely lost faith in the bank Ive trusted with all my financial assets so I finally caved and asked the recipient to reject the wire and I would resend it. When the wire made its way back my account was only credited for {$520.00}. My guess is that this amount reflected the original money I had sent less the {$45.00} fees and maybe accounted for changes in the valuation of the currency, but I lost nearly {$100.00} in the process because of WFs incompetence. To this day ( almost XXXX  days after I had originally called ) nobody from wells fargo has been in touch about the claim. Nobody has apologized. And nobody has followed up. I am incredibly frustrated and disappointed with Wells Fargo and feel like I had no other option but to file a complaint with the CFPB. I feel like their handling of this situation goes beyond just irresponsible or incompetent to either a retaliatory or emotionally manipulative situation. After thr XXXX or XXXX time waiting XXXX minutes for an update I got frustrated with the representative and raised my voice ( understandably in my opinion ). The only reasonable conclusion I can draw is that Wells Fargo staff colluded to draw out my claim time as a way to punish me for yelling on the phone. I can not imagine any other circumstance that would explain why my bank, with whom I trust all my financial assets, would refuse or be able to answer a simple question about a wire payment. I would like {$100.00} and both a verbal and apology from Wells Fargo. The unresolved claim number is : XXXX

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