Consumer complaint received 2019-09-05
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Savings account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
On XX/XX/2019, at about XXXX XXXX my joint savings account with my son, was fraudulently charged with wired to a XXXX XXXX of {$5000.00}. I first knew about it when I got an alert on my phone stating that I added XXXX XXXX to my account with and email of XXXX. As I was about call the Bank I got a call from someone Stating that they are calling to report that someone is at ATM is withdrawing {$500.00} from my account and will stop the transaction when they sent me an alert code to my phone. He first verified the account by asking me the recent transactions on the phone which I confirmed, then he asked me the alert code that was sent via text alert and gave it to him thinking that he was an actual Wells Fargo Representative because he verified all the information first on my account. He stated that he will stop the ATM transaction of {$500.00} and will receive a new ATM card on the mail. I ask him hid name of which he stated XXXX XXXX. After the call ended I immediately called the Bank with a 2 minutes spam to find out about the fraud with more detail. They immediately told me that the it was a fraudster who called and that my account was hacked and {$5000.00} was taken from my account. It tool about 10 minutes before they were able to transfer me to the Online Banking Dept. as I was on hold for a long time. When I finally got to an Online Banking Rep they said the will shut down my user name and passcode to create a new one. It took about another 15 to 20 minutes again before I was given the ok to create a new online Banking username and password. They then issued me a claim number number and said it will take 10 business days to process. 
On XX/XX/2019, I got a call from a Wells Fargo Rep stating that my claim is denied and wont be able to issue my {$5000.00} that was fraudulently taken out of my savings account. I was devastated as they said since I gave the alert code to an unknowing fraudster they wont issue the {$5000.00} back to my account. 

Please note that the account who received the {$5000.00} is a Wells Fargo long customer as well with a home based business as the representative told me that the account that the money was wired to. Somehow this sounds fishy. Not certain if its an inside job and why they could not recall the money as I immediately called Wells Fargo when the fraudulent activity was taking place. They first told me it was a XXXX transaction on the day of but then the next day I also saw a {$30.00} charge on the account for wire transfer fees. While on the phone on hold with Wells Fargo, I logged into my online banking and notice the email that was added of which I deleted so I and guessing the fraudster tried and succeed to wire transfer directly. 
I filed a police report and kept calling Wells Fargo and still states they wont issue the money. Please help me. I am in distress as this money was my for my son 's housing when he move to the XXXX XXXX next month. He just graduated college and worried he wont be able to move since he is out {$5000.00} he worked hard for doing an internship.

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