Consumer complaint received 2019-09-20
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I opened a XXXX XXXX Account that also included a Savings Account. The checking account was advertised to me as a no fee checking account that also included a savings account as part of the package. When I first tried signing up, through the XXXX XXXX, I was told I needed to go to a Wells Fargo Branch and bring identity documents to verify myself. After going to the Wells Fargo branch I was told by the Banker that Greenhouse Accounts are not serviced by Wells Fargo and is in fact a completely separate from Wells Fargo banking. The banker verified my information, and I was able to get approved for the XXXX accounts after applying again through the App. I funded my new XXXX XXXX account with my debit card in the amount of {$50.00}. Before I even received my Debit Card for the new checking accounts, I received notification that my accounts would be closed, and to contact a department for more information. I contacted the department shown on the letter and tried to find out what the problem was so that I could resolve the issue, but was not able to obtain any information regarding the reason for closure. I kept getting bounced back and forth between the Fraud Department and Loss Prevention Department which were both utterly clueless about my account statuses. Eventually I was able to speak with someone who simply informed me that my accounts were closed as a business decision and that the bank could close my account at any time with or without reason. This adverse action for no reason provided seemed unjustified, especially after I had gone through the trouble of going into the branch to present the identity documents that they requested from me, which included my Drivers License and a birth certificate. The bank knew who I was, and they even approved me for the accounts after they had properly identified me. Due to the situation not making any sense to me, I inquired with the bank whether the reason for closure is due to possible fraud, or fraud related issues that I was not aware of, to which the banker simply confirmed again that no further information is available and that the closure was a business decision. I asserted that the bank was being XXXX, and I asserted that there is must be some kind of fraud that caused this closure and that the adverse action being taken by the bank is unfair. The bank did not deny my claims, and further insisted that the bank can close my accounts for any reason with or without notice. Wells Fargo 's poor decision to close my account without reason, has also led them to close my credit card with Wells Fargo. This action taken by Wells Fargo has negatively impacted my financial well being and hurt my credit profile. I never would have signed up for the XXXX accounts if I had known that my accounts would be closed for no reason and that upon closure of those checking accounts that my credit card with Wells Fargo would also be affected in the same manner. I did nothing wrong and even went through the trouble of obtaining a new birth certificate just so that the bank could properly identify me, even though I have an existing relationship with the bank already. Prior to opening the fee free XXXX  checking accounts I had an active auto loan and credit card with the bank. My search for a fee free checking account led me to open the XXXX  Checking accounts, but all I received in return is closure of the checking accounts and to further add insult to injury they also closed my Credit Card with Wells Fargo. The checking account I opened has nothing to do with my credit, but Wells Fargo crossed the line when they decided to close my credit card along with the newly opened checking accounts I had opened. I wouldn't be filing this complaint if they had not closed my credit card after unfairly deciding to close my checking accounts when I havent even had a chance to use it. I feel like I was deceived by the bank and baited into a trap that only harmed me and had not benefitted me at all. Wells Fargo already has a pretty bad reputation after their last scandal, but I gave them a chance to prove themselves and this is how they decide to royally XXXX me over. I don't accept this outcome, and I want my accounts to be reopened so I have the chance to experience the services that I signed up for and I want my credit card to be reinstated because its closure is completely unwarranted. If Wells Fargo refuses to reopen my closed accounts I want a valid reason to be provided other than " it was a business decision ''. " It was a business decision '' is nothing more than a cover up excuse to closing my account for XXXX reasons, or biased decision making. It is unacceptable, and CFPB should not allow this bank to continue such shady business practices.

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