Consumer complaint received 2022-04-15
Company: WELLS FARGO & COMPANY
State: CO
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
Monday XX/XX/XXXX : My wallet got stolen from XXXX XXXX in XXXX, Colorado. I called Wells Fargo support line. XXXX. Reported my wallet being stolen. I locked my cards and fraudulent transactions were blocked. Thief had my wallet which contained credit cards, debit cards, and Drivers license. I opened up a case at XXXX police department. I called Wells Fargo to report my cards stolen and they canceled my debit / credit card and sent new ones. 

Friday XXXX : Noticed our checking account was showing a balance around {$40.00} when it should have been over {$2000.00}. Looked into account on my Wells Fargo app and saw that there was fraudulent activity on the account XX/XX/XXXX. There was a fraudulent check cashed for {$2400.00} to my name with a deposit slip showing cash back of {$1900.00}. This first shows up on my account as a deposit of {$450.00}, even though this is a fraudulent deposit with withdrawal. There is also an additional fraudulent cash withdrawal at the same time for {$500.00} made in the branch. 

The thief left the branch with {$2400.00} cash out of my account, but it shows up as a {$450.00} deposit. This deposit does not go through into our account due to it being fraudulent, therefore the {$2400.00} is taken from our account balance. 

After I noticed this fraud deposit/cash withdrawal I called the Wells Fargo hotline immediately to report. This call was at XXXX. The call lasted for XXXX minutes and I was told that my account was marked for fraud. She tried changing account numbers online but was not able to. I was given an identification code and explained to the lady that I did not have identification to change anything at the branch since my wallet was stolen and she said I would be able to use the code given to me in order to make any changes. My wife was out of the country visiting family so she was not able to go to a branch to make any changes. The lady reassured me that I needed to immediately go to a physical branch first thing in the morning to receive a new account number for all of my accounts. 

Saturday XX/XX/XXXX I went to the XXXX XXXX, Colorado location and spoke with the branch manager. She told me that all the people who could help me were booked for the day and she did not want to make me wait, but told me that all my accounts were locked and I would have to go into a branch on Monday or visit another branch. I asked her how somebody could withdraw money from my account using a deposit slip and she said they use that method when the debit card or pin can not be verified and they would need two forms of identification.This gave me my first instinct that the bank is not checking identification correctly. 

XXXX XXXXXX/XX/XXXX : I go to the XXXX XXXX XXXX XXXX location first thing in the morning right when it opens XXXX. I explain the situation to the teller and he tells me that they do not deal with fraud in the branch and he can not help me with anything. I explained to him that I was told to go into the branch to get a new account number and he said that my only option is to change online and they do nothing for fraud in the branch. 
At XXXX MST I called the support line and I am escalated to a supervisor. I explain that I am scared to open a new account number because the thief gained access to my account through the bank and I did not want that to happen again. He put me on hold after XXXX minutes, the call dropped, and I had to call back and re-explain the situation. Once again I was escalated to a supervisor and had to explain the situation and expressed my fear over and over again about opening a new account number because the thief was able to access my old account and my biggest fear is creating the new account number and them still being able to gain access to my money. I also stressed the importance of them not being able to access my savings account. She assured me that if we change account numbers everything will be fine and the only reason they were able to get into my last account is because it wasnt marked as fraud ( I was initially told that they did mark this account as fraudulent activity for higher security ) and my new account number will be marked with special security. I did not want any activity to go through on the new account and wanted it to be frozen until my wife got home and we could remove all funds. 

They created and transferred everything to new accounts. Since the fraud check didnt go through, but there is a withdrawal, the original account still shows a balance of - {$2400.00}. I asked them for a solution multiple times and none was provided. All they told me is it takes 10 days to research a claim. Until then the account will show as negative. 

Despite my conversations and new account number, later in the day there were four new fraudulent transactions on the NEW account number. 

The first was a check made out for {$950.00} with the deposit slip showing a cash withdrawal of {$850.00}. Therefore this shows in my account as a {$100.00} deposit. 

The second is a check depositing {$1200.00} with a cash withdrawal of {$1000.00}. This shows up in my account as a {$200.00} deposit. 

The third check was depositing {$750.00} with a cash withdrawal of {$600.00}. This is showing as a {$150.00} deposit into my account. 

There is also a deposit slip inserting {$200.00} cash into the account, which is fraudulent. 

The thief was able to leave the branch with {$2400.00} from fraudulent cash withdrawals. 

I do not know how this person was able to complete these transactions as I was told there was a flag on our account for fraud. Therefore identification was not being properly verified and security measures were not being followed on this new account. 

I immediately called Wells Fargo support line at XXXX and was on the phone for XXXX minutes. I was forwarded to the escalations manager and she told me that the fraud department was not open. I told her the situation and she told me she could put restrictions on my account so they would call me for suspicious transactions. I told her they are not making transactions with my debit card, they are inserting fraudulent checks and taking money out of my account. I told her I wanted all my accounts frozen so there would be no way to insert or withdrawal money. I explained numerous times that the only deposits that are ever made on the account should be deposited from my wife and my employers. I expressed my concern about my savings account and told her I wanted everything frozen under any circumstance. She assured me that she put a block on the accounts and there would need to be extra verification and I needed to call the fraud line first thing in the morning. We also went through each transaction and I was told there was a claim for each report. 


Tuesday XX/XX/XXXX : I called the fraud line first thing in the morning at XXXX and was on the phone for XXXX hour and XXXX minutes. I was escalated to a supervisor and I expressed my concern and frustration and questioned how this could happen again. Once again I was told that my account wasnt marked as fraud or put on hold. I explained to him the situation and how this individual was cashing fraud checks, using a deposit slip to withdraw money, and then leaving a bit in so it shows as a deposit even though it is not. I told him that I did not want anybody to do anything on the account and to freeze it until my wife gets back from vacation. He told me he can put a flag on the account but can not block deposits. I told him that makes no sense because that is how we are getting robbed and obviously my identification is not being checked properly at the branch. He then escalated me to a higher supervisor. 

I went through with the higher supervisor and he told me he was going to flag my account as fraud and write a note on it and there is absolutely no way anybody could deposit or withdraw any money from my account. I stressed again how all my accounts needed to be locked and frozen and there is no way they can have access to my savings account. He assured me that the accounts were locked and have extra security and there is no way any transactions can take place. 

Later the exact same day we noticed a {$1200.00} check deposit with {$620.00} cash withdrawal going into our savings account. I immediately called the fraud line and was placed on hold, therefore I drove to the bank. I explained the situation and demanded to speak with the XXXX and they told me one was not available. I told them fraud was currently happening on my account when I was told no transactions will be able to be made on my account. They sat me down with a banker and after further review of over an hour she informed me that a hold was not placed on all my accounts but only one, after I expressed to multiple people repeatedly I wanted all my accounts, especially savings locked for all transactions. This person stated she locked all my accounts and no transactions should be able to be made. I expressed wanting to close my accounts and she told me to come back in the morning with my wife to close the account since I did not have proper identification. 

XX/XX/XXXX : My wife and I went to Wells Fargo at XXXX and were there for XXXX hours and XXXX minutes. We met with an individual who was able to help close the accounts that had no fraudulent activity and put a pending close on the accounts that are still being investigated. Per our request he called the fraud line to verify there was a claim on all of our fraudulent transactions, in which there were not/ some of the claims were incorrect. He ensured a claim was made for each fraudulent activity. We were told it could take up to 10 business days to rectify. 


After countless phone calls and branch visits Wells Fargo failed to make my wife and I feel like our claims were serious and financial security was important. I reiterated my concerns and desire for my accounts to be flagged and frozen to stop fraudulent activity and that did not happen. I was told by multiple people that my account was secure when it was not and an individual was able to repeatedly access my account and make numerous withdrawals at a physical location. My identification was not properly verified due to the in branch transactions that were repeatedly made. All of our accounts currently with Wells Fargo are in the negatives from fraudulent activity.

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