Consumer complaint received 2023-08-25
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
Greetings. 
I hope this letter finds you well although these are not the most desired circumstances. 


I was not planning on taking it this far initially. 
I searched the web to see if what I was going through had happened to others. 
Sure enough, I found countless cases of Wells Fargo closing consumer accounts after reporting fraud. 

With that information, I just put my head down and vowed to never bank with Wells Fargo ever again. 

4 months later and I am still suffering the effects of foul acts done by Wells Fargo. 

By me quitting I knew I would be doing exactly what they would like to see. 
I would then become one less " issue ''. 






On the morning of XXXX XX/XX/XXXX, I woke up and saw the notification on my phone that {$5000.00} was removed from my checking account. 

I immediately click the notification and it takes me to the WELLS FARGO app. 
I looked further into the Transaction Description and it showed that it was authorized on the XXXX of XXXX but was not posted until the next day, which was the XXXX. 

Following that I proceeded to call the Fraud department. 

On XX/XX/XXXX, after waiting roughly 30 minutes I was connected to an " agent ''. 
I gave all of the information that I could and also answered all the questions asked by the agent. 

I was then told my claim would be processed. 
I then received confirmation. 



On XX/XX/XXXX, I received a letter. 

Below are the EXACT words. 


Dear XXXX XXXX : We have completed our research of your inquiry about charges of {$5000.00} on your account. Based on the information available to us, we have determined the transaction was authorized or that a processing error did not occur. Please consider your claim closed. 

If you have questions, or would like to take advantage of your right to request copies of available documents we relied upon in making our decision, please call us at XXXX, Monday - Friday, XXXXXXXX XXXX. to XXXXXXXX XXXX Eastern Time. We can provide language assistance services, if you prefer. 

Thank you. 

Claims Assistance Center ATM/Debit Card Claims Following that response, On Monday XX/XX/XXXX. 
I immediately called the number listed. 

I then requested for copies of " available documents '' that were relied upon in making their decision. ( Per their letter above ) - I was told that they were not available to be sent to me. 


XXXX On that same phone call. 
I then asked why they were closing my account. 

- I was then told it was because I had made too many claims. 
I found that odd because that was my FIRST EVER claim. 

Even then, I would never just wake up and choose to submit such a claim. 


- I was then told by the agent that I would receive a letter as to why it was closed if I would like. 

I said yes. 




Below are the EXACT WORDS that were enclosed in that letter. 
( I also still have the physical letters on hand ) Subject : Closure of your deposit accounts : Account number : XXXX Dear XXXX XXXX : Wells Fargo performs ongoing reviews of its account relationships in connection with the Bank 's responsibilities to manage risks in its banking operations. We recently reviewed your account relationship and, as a result of this review, we will be closing your above referenced accounts because we have made a business decision to end your account relationship because of a pattern of security risks. The accounts are expected to close by XX/XX/XXXX. 

Please note that the Bank reserves the right to close the accounts sooner if circumstances arise that warrant an earlier closing. 



After receiving that letter I was in complete shock. 

I felt defeated. 


XXXX - Today I requested those documents ONCE AGAIN that they " encourage '' you to request if you would like to review them. 

The documents that they " relied '' upon in making their final decision that is.

As you may have guessed.

I was given nothing and told that they were not available. 



If they will do this to a veteran. 
They will do this to you. 

That for now concludes my experience with Wells Fargo.

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