Consumer complaint received 2019-11-09
Company: WELLS FARGO & COMPANY
State: MA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
On XX/XX/2019 I have opened online an Everyday Checking account with Wells Fargo on their web site and fund it with a deposit of {$50.00}. The current promotion was Get a {$400.00} welcome bonus for new Wells Fargo checking customers with the following requirements : 1 ) Open an account Open an Everyday Checking account online from this page or bring an offer code to a participating Wells Fargo branch and open an eligible consumer checking account. 

2 ) Deposit $ 25+ Fund your new checking account with a minimum opening deposit of at least {$25.00}. 

3 ) Set up and receive qualifying direct deposits Within 150 days of account opening, receive a total of {$3000.00} or more each month in qualifying direct deposits to your new checking account for three consecutive months. 

4 ) The bonus will be deposited into your new checking account within 45 days after meeting all offer requirements. 

I was following the prompts step by step. There was a window on the upper right corner of the screen requesting your zip code with a message underneath Your offer code will be automatically applied when you complete your online application. 

The direct deposit was set up and the requirement for depositing of {$3000.00} or more each month for 3 consecutive months ( XXXX, XXXX, XXXX ) within 150 days was met on XX/XX/2019. 

Since there is a clear statement that the bonus will be deposited into the account within 45 days after meeting all offer requirements, which in the case is XX/XX/2019 I decided to patiently wait. 

In the middle of XXXX I called customer service to ask them when should I expect the bonus deposit and if everything looks ok with the account - It was confirmed that everything looks ok with the deposits and that I should be receiving the bonus within those 45 days. 

On XX/XX/2019, which is more than 30 days after I met the requirements, I called customer service again and asked when I should expect the bonus deposit. The representative checked and I was informed that there was no bonus connected to that account. I have expressed my concern and asked to be connected with a manager/supervisor. The supervisor confirmed that the account is not connected with a bonus and that there is a missing bonus code therefore they cant proceed with the bonus. 

On the same day, XX/XX/2019, I have called customer service again and this time the call was escalated to the executive office. I have explained everything to the representative and a case was created # XXXX however the representative could not give me any time frame that I should expect a resolution. I told the representative that as we speak this promotion is still available online and can be done in the exact same way that I have done it in XXXX. I was told that a case manager will be assigned to the case and will investigate it. 

In the meantime I have found that my case is not isolated since there are multiple similar complaints from other customers about the same issue with the {$400.00} checking bonus. 

On XX/XX/2019 I had another conversation with Wells Fargo and was told that a case manager was still not assigned because all case managers are backed up. I again asked if they could give me any time frame or at least an estimate in which I should expect the case to be reviewed/resolved. Such was not given again. 

I strongly believe that all financial institutions ( banks ) should have a mandatory time frames/deadlines for their operations since such are mandatory for their customers and if are not met the customers are being penalized.

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