Consumer complaint received 2020-10-29
Company: WELLS FARGO & COMPANY
State: MN
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
In XX/XX/XXXX, I got a PPP loan through Wells Fargo ( WF ) in the amount of {$20000.00}. The first payment for that loan is scheduled for XX/XX/XXXX. On XX/XX/XXXX I attempted to pay off the PPP loan IN FULL. I had the full amount in my WF account to do the transfer but WF 's system did not allow me to do the transfer online. I called WF Business Banking to assist with the transfer to pay off the loan. 

In the period of XXXX to today ( XX/XX/XXXX ) I have NEVER received any paperwork or loan documentation in the mail from WF. The only amount I saw in my account was the principal owing of {$20000.00}. 

On XX/XX/XXXX I was transferred to numerous people to help me pay off the loan. I simply needed someone to move the $ XXXX amount from my business checking to pay off the PPP.

After 2 hours of being hold and being transferred to 4 different representatives, a rep named XXXX told me she'd paid off the loan and gave me a reference number. 15 minutes later I checked my account and saw that she had, in fact, taking out $ XXXX from my account. My account showed a negative $ XXXX balance. I then spent another 3.5 hours on XX/XX/XXXX trying to get them to fix the problem. 

It is now XX/XX/XXXX, and this is day # 7. Though the loan had been shown as paid off for several day, it is now showing up an UNPAID. I have spent over 10 hours on the phone with WF over the past 7 days trying to unsnarl this mess. I have been transferred 18 times, disconnected 7 times, and am still being told they " can not promise we can resolve this for you. '' Meanwhile over the past 7 days, they have continued to charge me more interest as I have been calling DAILY trying to get this mess resolved. As I write this, I have been on the phone with WF for 1 hour and 45 minutes and still no resolution. I keep being transferred between Business Banking and Customer Advocacy. They keep " checking with supervisors '' to see if they can, in fact, help me pay off this loan. I have $ XXXX sitting in my checking account for this purpose, ample money to cover it. 

I've never been this angry in my life. The incompetence is shocking and this sure feels like fraud. 

After 1 hour 49 minutes being on the phone with WF today, I was just told the loan was paid off. I asked for a reference number, but they told me they are not able to give me any reference number or conference number. I have informed them I am filing formal complaints with CFPB, Attorneys General and the President of Wells Fargo. 

HERE IS A DETAILED TIMELINE XX/XX/XXXX I move money into my WF Checking account so that I can pay off PPP loan. 
XX/XX/XXXX I attempt to pay off PPP online but system doesn't allow it. I call WF Business Banking. They inform me they can not process payment unless I can provide full payoff amount ( which I don't have because I never have received ANY loan paperwork from WF ) or a loan number. There is NO loan number provided in any of my legal documents from WF. I am told I will need to write a LETTER and mail it to WF to formally request the correct pay-off amount. They tell me they are " unable to disclose the pay-off amount '' to me. I feel they are being evasive and cagey and unhelpful. They say I can't pay off the loan unless I know this total payoff amount. I am told the policy where we need to write a letter is new " as of XX/XX/XXXX. '' I express anger and the rep finally tells me my loan pay off amount is {$20000.00}. 
XX/XX/XXXX I call Customer Advocacy. After 1 hour, I am told that they have been successful in transferring the full amount {$20000.00} to pay off the PPP. I am given reference #. 
XX/XX/XXXX I log into my account and discover the rep instead transferred over $ XXXX from my business account. I am over $ XXXX negative now. I immediately call WF to get it resolved and spend 3.5 hours being transferred around. One rep, XXXX, says, " Bummer, do you want to file a complaint? '' XX/XX/XXXX I call back and speak to XXXX who assured me he escalated resolution and that at midnight the $ XXXX error will be fixed. 
XXXX The $ XXXX error is gone but I call WF to confirm the PPP loan was in fact paid off. I am told by XXXX that " the PPP loan was paid off in full on XX/XX/XXXX. '' She is unable to give me anything in writing. I spend hour unsnarling $ XXXX in overdraft protection that was triggered into my account from my business credit card. I hang up on XX/XX/XXXX ( a Saturday morning ) thinking the mess is resolved. 
XX/XX/XXXX I am assessed a {$35.00} NSF fee for a {$7500.00} transaction that had been cancelled by me, but wrongly reinstated by WF. I spend an hour on the phone trying to resolve this. 
XX/XX/XXXX I check my WF account and see, to my horror, that the PPP loan is again showing up in my account and NOT BEING PAID OFF. 
XX/XX/XXXX I call WF and spend over 2 hours ( I am still on with them as I write this ) trying to AGAIN get them to pay it off with my $ XXXX of funds in my checking account. They tell me the XX/XX/XXXX payment was " reversed '' on XX/XX/XXXX. I never authorized this reversal. 
XX/XX/XXXX after 2 hours and 19 minutes, I am told they were able to pay off my loan ( again ) but are " unable to provide any reference number of confirmation number '' to me. 

I remain on hold. I have now spent 12 hours on the phone with WF given their inability to help me transfer funds from my WF checking account to pay off my Wells Fargo PPP loan. I am waiting for a " case number. '' I am told because I disclosed to them that I am filing formal complaints, a " case number '' is the only proof I will have that my PPP loan was in fact paid off this time.

This has taken 7 days, 12 hours of phone calls, 20+ transfers, and 5 accidental disconnects. 

Here is a list of the reps I have spoken to. I am missing a few : XX/XX/XXXX : XXXX, Business banking, disconnected me. 
XX/XX/XXXX : XXXX, Business banking, told me I had to work with Customer Advocacy. 
XX/XX/XXXX : XXXX, Customer Advocacy ( CA ), did the $ XXXX error XX/XX/XXXX : XXXX, CA, said " Bummer '' and only filed a complaint for me XX/XX/XXXX : XXXX, CA, helpful, escalated it and said it would be resolved at midnight that night ( XX/XX/XXXX ) XX/XX/XXXX : XXXX ( CA ) disconnected me. 
XX/XX/XXXX : XXXX ( CA ) confirmed the PPP was fully paid off. Helped me move the overdraft protection out of checking and back to my business credit card account. 
XX/XX/XXXX : XXXX ( CA ) reversed a {$35.00} NSF after I complained. 
XX/XX/XXXX : XXXX ( CA, same person ), was on with her for over an hour and she told me she was " unable '' to process the payment and would transfer me to Small Business Support Team. 
XX/XX/XXXX : XXXX ( Small Business Support Team ) After 30 minutes, tells me she will transfer me. 
XX/XX/XXXX : XXXX ( Small Business Support Team ) after 20 minutes informs me she is unable to handle the PPP payment and I need to go BACK TO Customer Advocacy. I lose my mind. 
XX/XX/XXXX : XXXX ( CA ) 1 hour 45 minutes. Says she is " managing expectations that she may not be able to help me '' with the loan pay-off and that she " needs to check. '' Puts my on hold several times. She ultimately is able to do the transfer, though it unable to provide ANY confirmation or reference number.

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