Consumer complaint received 2018-09-06
Company: WELLS FARGO & COMPANY
State: AZ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
TWO SIMILAR ISSUES - 1. On XX/XX/2018 I deposited a check from a business client into my WellsFargo business account # XXXX in the sum of {$10000.00}. On the morning of XX/XX/2018 I received a message that there is a " hold '' placed on the {$10000.00} for the reason " Insufficient Funds At Inquiry '' and that the funds would be available on XX/XX/2018.

On the same date a received a letter stating that my overdraft protection was used in the about of {$1500.00} to cover overdrawn account ( resulting from hold ) After one week Wells Fargo sent me another letter XX/XX/2018 stating that the {$10000.00} check is being returned " unpaid '' and that my account is being charged a {$12.00} fee. The letter also stated " We are sending you a paper copy of these checks via U.S. mail, which includes the front and back image of the returned check ( s ) for your reference. '' As of this date XX/XX/2018 I have not received the returned check. 

I contacted the business that issued me the check on XX/XX/XXXX and she assured me that the check was good and that Wells Fargo must have a problem. She then contacted her banker at XXXX regarding the problem. The XXXX banker looked at her account and said " the check has never been presented to us ''. I immediately contacted my business banker at Wells Fargo and he assured me that Wells Fargo couldn't have made the error because this is all handled electronically. I begged him to pursue this further and get me a copy of the check. He was able to send me a digital copy on XX/XX/XXXX. 

Once I looked at the document that he emailed me it was clear that Wells Fargo attempted to collect the funds from the " wrong '' account ''. The account number that they presented the check to did not match the check. I brought this to the attention of my business banker and he said " when you receive the check back please bring it in and I see if I can do anything ''. Again to date I have not received the check. 

If I call my customer and request that she issue another check she is going to want the " open check '' returned. This part is very embarrassing and unprofessional. I feel like Wells Fargo shouldn't be putting all this on me after all this was their mistake. 

This morning a " manager '' of a local Wells Fargo branch told me that I will NOT be receiving the " returned check '' so that just added to my frustration and now I don't know what to do to get my {$10000.00}. 

I have attached all the letters and documents to support this. 

2. On XX/XX/XXXX I deposited a check for {$10000.00} into my personal checking account # XXXX. I was told at the time of the deposit that there would be no hold placed on the funds. The next morning I checked my account and found that a hold on as been placed on these funds. Upon further investigation I learned that the funds are being held because " Insufficient Funds At Inquiry ''. ( way to familiar ) Wells Fargo sent notice today XX/XX/XXXX stating that the funds are being held until XX/XX/XXXX. I called my friend that issued the check and his bank " cleared '' the check on XX/XX/XXXX - which is the date of the deposit. Therefore it's a " lie '' that the funds were insufficient at time of the deposit because Wells Fargo received the funds. The issuer of the check emailed me documentation from his bank showing that the funds have cleared and I sent that to Wells Fargo. I have spoken with two different Wells Fargo employees regarding this matter and my person banker said that because he knows me he will release the funds within 30 minutes. It's now 3 hr 's later and no funds. 

He just called me stated that the document that I provided is not enough evidence to establish that the funds cleared ( as per his manage ) and that they will continue to hold these funds. 

I have attached documentation showing the cleared funds. 

Please advise - I really need this {$20000.00}

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