Consumer complaint received 2022-03-18
Company: WELLS FARGO & COMPANY
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Banking errors

Complaint:
I have been with Wells Fargo for about 15 years, with a dozen accounts for myself, a business and my children- all in great standing. Until now. XX/XX/XXXX, my XXXX son was a victim of a job fraud scam and Wells Fargo has not only been resistant to help, we feel like we're being treated like criminals- shutting down accounts without warning, sending a minor 's account to collections and requiring him to be responsible for the balances. What's the use of having a bank when they won't pass on protections they have access to and ultimately help " customers succeed financially '' like their mission statement says. 

The point of this report is : 1 ) That Wells Fargo refuses to help - their internal departments are conveniently siloed in such as way that departments don't know what's going on with an account and employees ( including Branch Managers ) have no authority, making assistance almost impossible.

2 ) What's more egregious is that they did not consult a teen properly ( after he called for advice first ) and now is holding him responsible for their actions. It is unlikely that any teen could have known the company checks given were fraudulent ; that's why customers rely on banks and their massive cybersecurity, fraud and technology departments.

3 ) Either the money was in the account or it wasn't. Clearly it was b/c between the teen daily spending limit and his limited funds at the time, either/or would have prevented any purchases if the bank hadn't " cleared '' the check and made funds available. 

For the above reasons, and the detailed timeline below, we are respectfully but firmly asking for : XXXX ) Restore the teen account to {$610.00}, prior to the fraudulent checks and subsequent activities. Remove any negative flags that could prevent him from obtaining any future accounts. 

2 ) Restore the affected credit card and fix the related credit history/score that is now poor because of bank actions. 


********* The timeline of events : XX/XX/XXXX - XX/XX/XXXX : My son was approached, interviewed and offered an XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX by " XXXX XXXX '' and " XXXX XXXX '' XXXX XXXX XXXX XXXX ( XXXX and XXXX ) on XXXX, a reputable platform. The emails, URLs, offer letter, and letterhead seemed normal and the documentation appeared legit. He had {$610.00} of his own money in his checking account for upcoming tuition. 

XX/XX/XXXX : My son receives a legitimate-looking {$2400.00} check from XXXX to XXXX deposit for the purchase of a work computer and equipment. Because he has a teen account the daily spending limit is {$500.00}, he calls WF to be advised what to do so that his teen account could handle the expenses. The phone rep said that once the checks cleared, the daily limit would automatically increase and he could proceed. 

XX/XX/XXXX : The check clears within a day and both the bank statements and his increased daily limit prove that the money is in the account - there would be no other way for him to proceed if it wasn't. 

The hiring manager asks my son to XXXX the money for equipment to XXXX XXXX ( XXXX ) in two amounts : {$1000.00} and {$1200.00}. 

XX/XX/XXXX : XXXX sends another check for {$1400.00} and requests the XXXX payment of {$500.00} be sent to XXXX XXXX ( XXXX ). As you can see, the balance in the account at the time is {$820.00}. 

XXXX : We are notified by Wells Fargo XXXX XXXX the checks are fraudulent and they get returned, resulting in - {$2100.00} overdrawn account. We immediately report all we know to a local WF branch and two police departments that same day. Additionally, we have reached out to XXXX XXXX Department but was never able to reach a live person. WF opens fraud claims where we are hopeful that WF will help us restore the account to the {$610.00} before this all happened. 

XXXX : During the following months we stayed in contact with the local Branch Manager who escalated claims to Customer Service XXXX XX/XX/XXXX ( XXXX ) and XX/XX/XXXX ( XXXX ). 

Fully expecting to receive updates, we respectfully waited for XXXX to take time investigating but was surprised when the account was closed at the end of XXXX- and, that we OWED {$2100.00}- which was then sent on to collections, and we no longer had online access to view the account. 

( NOTE : We have since tried to answer the collections calls, they hang up. When we call back, they hang up. That doesn't instill much confidence in WF Collections. Additionally, on the XXXX XXXX notice regarding " Closure of your deposit accounts '' they say " ... please redirect the deposits to a non-Wells Fargo account '' - which strongly suggests WF is not really interested in customer retention or service. ) Subsequently my credit card was closed on XX/XX/XXXX for " not maintaining checking or savings accounts as agreed '' in spite of perfect maintenance on all accounts. 

XX/XX/XXXX : I call Fraud ( XXXX ) at XXXX and find out that they have had no updates to my case! They know nothing about my credit card situation, nor about the escalated claims. Apparently, the XXXX departments are siloed and no one knows anything about anywhere else. 

" Your son will never be able to open a Wells Fargo account again, '' says XXXX at XXXX. I requested to reopen the fraud case on the checking account, and then for Credit/Collections to reopen that case. I'm told they will. 

XX/XX/XXXX : After talking with XXXX, XXXX, XXXX, XXXX ( disconnected and had to call back ), XXXX, in Credit/Collections ( XXXX ) and finally Diondre ( " XXXX Customer Care '' XXXX )... I'm eventually told my cases are now closed and unable to reopen in spite of my call on XX/XX/XXXX to reopen! 

( NOTE : XXXX was the most helpful - she actually tried to get me connected to a helpful department, but says, " I'm getting shut down. The departments don't want to talk to me. '' Finally, I get " XXXX Customer Care '' - but I have to open a new case in spite of the XXXX expedited ones from before! ) I've asked XXXX why weren't the checks examined by their huge fraud teams BEFORE making the money available, and how would WE know the check is fraudulent to begin with? He, like the other WF reps repeat the script* that it's the customer 's fault for " authorizing '' the checks, they can't retrieve from XXXX XXXX even though they have the relationship and we, as individual customers, have no way of communicating with XXXX XXXX ), and " there's nothing we can do about it. '' Simply not able or willing to help. At. All. 

( * which looks like it's a favorite, see XXXX 's response here : https : XXXX ) *********** My hope is that Wells Fargo XXXX XXXX the right thing for others, and us. With an incredible XXXX net income of $ XXXX, I challenge the now-negative reputation Wells Fargo has and XXXX a difference. ( The irony : their $ XXXX fake account scandal and $ XXXX whistleblower OSHA case. ) In our case, please help restore a kid 's ability to simply pay for college tuition and give him a good financial start to life ... that is the right thing.. 

Thank you.

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