Consumer complaint received 2017-08-02
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
On XXXX XXXX, 2017 I went to the XXXX Wells Fargo Branch in the city of XXXX XXXX, CA and attempted to deposit a cashier 's check from the proceeds of the sale of our home. The check was made payable to my husband, XXXX XXXX and Me, XXXX XXXX in the name of our Trust. Our account is a joint account. A branch supervisor told us she could not accept the check unless we opened a " trust account '' and brought in our " trust documents. '' WE found this ludicrous and non-sensible, so we proceeded to cross the street to XXXX XXXX where we have XXXX account, a MILITARY account, with a XXXX balance, with XXXX XXXX having sole ownership. XXXX took our check, again payable to both my husband and I and our TRUST. CHASE did not hesitate, did not question, they simply deposited the check for over {$110000.00} and put a hold of only two days. After the two day hold was removed, we had them made a CASHIER 'S CHECK payable to my husband only, so that Wells Fargo would not cause us any grieve. Well, they did and they have consistently, since XX/XX/XXXX, and then again on XX/XX/XXXX, when we DEPOSITED A CASHIER 'S CHECK MADE PAYABLE TO MY HUSBAND, OWNER OF THE ACCOUNT. The teller placed a 12 day hold on our money, from XX/XX/XXXX and stated the funds were on hold until XX/XX/XXXX. A twelve ( 12 ) day hold on a CASHIER 'S CHECK?! I immediately contacted Wells Fargo on XX/XX/XXXX and their " Executive Team '' became involved to " resolve the issue. '' The issue was NOT resolved by the Executive Team, and in fact, an Executive Team Member told me he would NOT release the hold because XXXX had not released the money. We confirmed personally with CHASE that they were not in any way, shape or form holding our money hostage, as evidenced by the fact that they immediately, only XXXX days later, released the money and gave us a CASHIER 'S CHECK. How in the world could the Executive Team Claim that XXXX was holding our money? After many emails via my online banking, with ZERO resolution, I resorted to Social Media via XXXX. I do not know if they have done anything on their end to release the funds, but today, my husband had to go in person and demand that OUR money, ( again in the form of a Cashier 's Check ) be released. The Branch finally released the money today, though they could have confirmed the funds by XX/XX/XXXX and released our money by XX/XX/XXXX, as XXXX would have done. At this point, we have lost money on the interest that XXXX XXXX, another one of our banks, would have been paying if the money had been made available to them. XXXX XXXX is paying us 1.30 %, versus Wells Fargo which pays 0.01 %, so at this point, their holding our money hostage caused us to lose on interest, which would have been accruing this whole time. Now, to add INSULT TO INJURY, even though I have in excess of {$100000.00}, Wells Fargo charged us a {$35.00} NSF FEE! We have over {$100000.00} and Wells Fargo charged an NSF FEE?! Unbelievable. The treatment we have received from Wells Fargo is inexcusable and inexplicable, but maybe not so, as Wells Fargo is once again embroiled in more fraudulent activity with their customers. Please right this wrong. Sincerely, XXXX XXXX and XXXX XXXX

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