Consumer complaint received 2021-09-22
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
On XX/XX/21, fraud was committed on my checking and credit card accounts with Wells Fargo. 
{$7200.00} was sent via cash advance from the XXXX  credit card into the checking account. 
From the checking account, the perpetrator wired the {$7200.00} ( from the credit card ), along with around {$2000.00} ( from my checking ) to another account. A wire transfer fee of {$30.00} was charged to my checking, a {$360.00} cash advance fee & {$61.00} interest charge were charged to my credit card. Charges are still present & fees continue to pile on I reported this to WELLS FARGO on the day that this occurred & communicated that I did NOT authorize any of these transactions. Representative filed a claim and assured me that this issue would be investigated & resolved. Also, I was told that the issue would be addressed and my funds restored within 10 business days. I have called regularly to check in on the status but there is still no resolution. 

Despite Wells Fargo having years of transaction records for me, it still failed to identify and protect me from the fraud when it was clear that my bank accounts showed extremely irregular banking activity. 

The fraudster was able to gain access to my online Wells Fargo account by having my login, and proceeded to complete a cash advance from my credit card to checking account, and wire transfer thousands of dollars to a bank unfamiliar to me and to which I do not hold an account with, all without my consent. 

At no time during any of the transactions or before did any Wells Fargo employee or representative take any action to halt the cash advance or wire transfer or protect me from fraudulent activity related to my online account actions. 

Despite the extremely irregular and large transfers in a very short period of time, occurring in my Wells Fargo account and the unauthorized remote logins, Wells Fargo failed to timely act, secure and protect my money. 

Wells Fargo owed a contractual and fiduciary duty to protect my ( the consumer ) funds, due to the company breaching its own Deposit Account Agreement by failing to take proper action to stop the fraud and by failing to immediately recall the wire transfer, which Wells Fargo neither flagged or attempted to stop. 

In addition to losing the money I trusted to be secure in the Wells Fargo checking account and the amount of debt that Wells Fargo is expecting ME to reimburse them for ( my credit balance had been at {$0.00} and my payment status ( prior to this incident ) as reflected on XXXX was on time, never late for several years ), I have also suffered emotional damages including XXXX, XXXX, and XXXX XXXX XXXX. 

I accuse Wells Fargo of negligence/voluntary assumption of duty, breach of contract, and violating unfair trade practices and consumer protection law.

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