Consumer complaint received 2018-03-10
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
It started with my computer issues XX/XX/XXXX, when I contacted a computer tech support to resolve the issues via an XXXX area code number that appeared on my monitor. I agreed to let them remotely access my computer to fix the problems and unlock my computer. They said to resolve the issues would cost {$200.00} that was to be paid using XXXX gift cards of {$100.00} denominations which I did. They said there was a problem with the first XXXX cards and they directed me to get XXXX more which I resisted but finally did. The next day XX/XX/XXXXthey called back saying that they needed to refund {$200.00} as both sets of cards cleared. So they asked me for my bank acct. # and routing # to wire the funds back. Then they said they made a mistake and wired {$20000.00} and begged me to return the over payment. I choose my Wells Fargo checking acct that had a low balance to protect myself and so I could tell if the funds were actually wired in. That account was however linked to another Wells Fargo checking acct with a much higher balance. Unbeknownst to me, they had hacked my account and transferred some of my funds ( $ XXXX ) from the higher balance account to the lower balance acct. Then they directed me to go to Wells Fargo Bank and verify the funds were in the acct and gave me wire instructions to wire back just {$19000.00} to XXXX Bank in the name of XXXX XXXX. I was suspicious so I went to Wells Fargo to confirm the over balance and that the erroneous wired funds were received. I spoke to XXXX XXXX, Wells Fargo 's personal banker, and he confirmed the balance in that account was sufficient to wire out {$19000.00}. The previous day the balance was only a few XXXX dollars. I asked XXXX " did the funds in that account come from outside Wells Fargo Bank ''. He replied that an online transfer was made that day from my larger balance checking account. I immediately informed him that I made NO ONLINE transfers that day. He stared at his computer monitor, said nothing then went over to the bank asst. manager and talked to her. I assumed he made a mistake and he never asked to clarify the obvious unauthorized, fraudulent online transfer of {$20000.00}. He then came back and said the funds were available to be wired. At this point, no funds were lost or wired out. If XXXX had stopped right there to get to the bottom of what was an unauthorized, fraudulent transfer especially since these funds were funding the wire transfer, no funds would have been lost because the acct being used to fund the wire would not have had sufficient funds to wire {$19000.00}. I further told XXXX that I wanted to make sure no funds came from the acct with the higher balance to fund this wire transfer. He replied that the funds were available for the wire and proceeded with the wire transfer even after I told him that I made NO ONLINE transfer that day. I returned home, which is only 3 minutes away, and received a alert from Wells Fargo Bank that a {$20000.00} online transfer was made from one of my checking accounts to the other. I immediately returned to Wells Fargo, told them what happened and asked them to call back the wire. All this happened over about 2 hour period of time. The wire call back was not successful I was later told by the Wells Fargo XXXX XXXX. 

I explicitly told XXXX XXXX, the Wells Fargo banker, that I made NO Online transfer that day yet he proceeded to wire out the funds from the unauthorized, fraudulent online transfer. I initially asked him if the funds in the account to be used for the wired funds came from outside Wells Fargo Bank. and he only replied that funds were transferred that day from the higher balance checking account to this account. I immediately told him that I made no transfers that day. My last statement to him before the wire was sent was that I wanted to make sure funds were not drawn from the higher balance acct to fund this wire transfer yet he still proceeded to wire {$19000.00} which clearly came from that unauthorized, fraudulent on line transfer. The transfer alert that I received on my iPad from Wells Fargo states " If you do not recognize this transaction, you can reach us at XXXX, 24 hours a day, 7 days a week, or by secure email ''. What is the purpose of notifying the Bank if nothing is done to reverse the transaction? In this case, I was sitting in front of my banker and informed him that I made no transfers that day. If he had reversed this unauthorized transfer, no funds could have been wired from that account as there would not have been sufficient funds to do that. 
Wells Fargo bank is in the business of banking and have a responsibility to take reasonable care to protect their customers funds which XXXX did not. Proceeding to wire out funds from an unauthorized, fraudulent transfer after the customer tells you the transfer was not authorized is not caring for the customer. There was no way for me to see what was going on but XXXX could see it plainly on his monitor but took no action to reverse it prior to sending out the wire. In spite of Wells Fargo 's new XXXX 's commitment to " provide the customer with the best service and advice '' per his letter dated XXXX XXXX, 2018 there remains a cavalier attitude toward protecting the customer 's XXXX XXXX further in Wells Fargo 's " The Vision, XXXX and XXXX XXXX XXXX Wells Fargo '' states " Customers can be better served when they have a relationship with a trusted provider that knows them well and provides reliable guidance '' and further " We want to serve customers ' needs and protect their assets ''. None of that was done in this case and to the contrary the bank 's employees became immediately defensive. 
I have formally asked in a letter datedXX/XX/XXXX that the bank manager XXXX XXXX reimburse me for the funds lost and I've received no response. According to Wells Fargo 's Customer Account Agreement erroneous funds transfers are refunded when the Bank is notified promptly. My notification was within minutes of the unauthorized, fraudulent transfer.

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