Consumer complaint received 2023-08-30
Company: WELLS FARGO & COMPANY
State: AL
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
I submitted a credit card payment of {$180.00} to be paid to XXXX XXXX on XX/XX/2023 from my Wells Fargo checking account. My ending daily balance was {$720.00} on XX/XX/XXXX. There were sufficient funds to make the payment. When I checked my account on the morning Friday, XX/XX/2023 I saw the payment was pending out of my account. I checked my account later in the day, and the payment had posted to my account. It was not in pending status anymore. I checked my account several times over the weekend because I was waiting for another deposit to become available. Every time I checked my account, that payment was recorded as posted. Today, I received notification from XXXX that my payment had been reversed. I logged into my online account, and there was no record of the transaction anymore. I contacted Wells Fargo to find out where the payment went, and they reversed posted payment overnight on Monday, XX/XX/XXXX, claiming I had insufficient funds for a payment that had already cleared. They also failed to notify me of this. There were SEVERAL transactions made and bills paid after that one transaction. It took longer for the deposit I was waiting on to show up than expected, so I did have to use my overdraft protection from my savings account and my account balance got down to {$22.00}. I monitored the account ALL WEEKEND and all day Monday to make sure there were no issues. On Tuesday XX/XX/2023 is when XXXX received notification that the payment had been reversed and they notified me today, XX/XX/XXXX. Wells Fargo intentionally changed the order of my transactions and reversed a posted payment. I asked if I could have a printout of the transactions in the order they were processed from my local branch. I was informed by the customer service representative that they have a different view from what he has and no records of how these transactions were processed could be provided to me. I opened a formal complaint with Wells Fargo and was told it could take 12 business days to hear anything. Customers, local branches, and customer service should all have the SAME VIEW. This is MY MONEY. The payment should never have been returned because I had sufficient funds. Additionally, per Wells Fargos own policy, I have access to direct deposits immediately. The additional deposit was available in my account on Monday night, but what my online banking shows now is that it wasnt available until Tuesday morning. Regardless, the funds were there. Because Wells Fargo chose to change the order in which my transactions were processed and delay crediting a deposit, they claim I had insufficient funds and returned a payment that cleared on Friday, XX/XX/XXXX and have now cost me additional fees. Wells Fargo should be responsible for reimbursing me those fees since they caused me financial hardship with their shady business practices.

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