Consumer complaint received 2018-02-26
Company: WELLS FARGO & COMPANY
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Account opened as a result of fraud

Complaint:
New personal checking account was opened with Wells Fargo approx. XX/XX/2018. And before I had even received my debit card I received Retirement  Account account information that had been opened in my name by Wells Fargo without my knowledge or authorization. I contacted Wells Fargo to close the unauthorized retirement account and they told me that the retirement  account must remain open for 7 years as per IRS law even though I did not open it, as per customer care representative " XXXX ''. To this day Wells Fargo has refused to close the retirement  account even though neither me nor my employer opened the account, and representative XXXX from Executive Offices informed me, " I shouldn't be concerned since I am not being charged for this account '' and he also refused to close the account. 

In addition, due to my concerns with Wells Fargo first opening a retirement  acct without authorization and then next refusing to close said account, I attempted to close my newly opened personal checking acct. I made 5 written requests via online web portal and 2 phone requests to close my checking account. On my first phone call I spoke to a representative and he informed me that he could not close the account himself but that he completed a Customer Care Form and forwarded it to the dept who could close the account. However, after several days the account is still not closed. When I contacted by phone Wells Fargo Executive Offices on XX/XX/XXXX, customer services representative XXXX told me I could not close this account by phone since my account has been opened less than 30 days and since I only had XXXX cents they could not generate a cashiers check to me. She informed me the only way to close this account is if I went in to a Wells Fargo branch or if I wrote a letter to Exception Payments in Virginia. Again, refusing to close this account. 

So my issue is 1 ) Wells Fargo opened a retirement  account without any authorization or request either from me, or by the employer who sponsors the employee retirement account, and then 2 ) Wells Fargo refuses to close the retirement acct saying it must remain open for 7 years as per IRS law, though they could not tell me what that law is exactly. and now 3 ) Wells Fargo says they can not close my personal checking acct by phone because it has been open less than 30 days and only has XXXX cents in it. The service representative could not inform me of a minimum amount that I would need in my account to close it by phone and so they could send me a cashiers check for remaining balance. But she could tell me that he computer screen is saying that XXXX cents is too low to generate a cashiers check so that I can close the account over the phone. 

I am beyond livid with Wells Fargo and I want any and all accounts they have open in my name to be immediately closed!!!

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