Consumer complaint received 2023-01-20
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:
Ive had this happen 4 times now which put me in a major financial disposition, but they have done this many more. They basically wait unti I deposite a check into the account and they " flaged it '' as fraud or " some inconsistency in signature '' from accounts i had previously recieved checks from and forced me to wait 10 days to use my money. I was able to work with my clients and employer every time when this happened to actually see and verify that the money was transfered from their bank account to wells fargo and the bank still continued to withold my funds. Ive called customer service and they alwasy say there's nothing they can do, that they cant transfer me to their manager because they're the highest person on duty or there isnt a phone number to the fraud devision, that there's nothing they an do about it. It's cost me alot of money, I've lost potential clients which would have been thousands in potential profits, wasted countless hours of my time that i had invested into jobs and made my job and personal finances increasingly stressful for no reason. 

The most recent, XX/XX/XXXX which caused me to have to pay over {$1000.00} extra in shipping charges because I had to have someone drive 3 hours, here and back to their home twice to deliver materials to me. Because of their bogus hold on my finaces i wasnt able to purchase the {$4000.00} in tile products i was buying for my client in the middle of a home renovation. I had to have them drive out to deliver the materials a second time to actually deliver it when i could actually pay them. Their unlawfull buisness practice caused complications for numerous other purchases i need to complete this job. The next phase with my customer is a {$20000.00} job that they arnt sure if they're going to go through with it now and I already purchased some materials for. 

2 separate times my client just cancled the job with me entirely because I couldn't purchase the remaining materials needed in time and had someone else do the work. Another {$5000.00} job, and a {$3600.00} job I missed out on because of them witholding my money. After investing over 10 hours into each one of the jobs before they dropped me due to material procurment delays cause i couldnt acess my funds. 

Another time ( XX/XX/XXXX ) i wasnt able to pay my rent and my landlord wanted to evict me but thanfully my land loard dropped it, but only after i had to paid him for the 3 months future rent on top of the late rent to keep from evicting us. I was so broke from unexpectedly having to pay 4 months of rent we couldn't even afford to have a turkey on XXXX, we had hamburger tacos caused that's all we could afford. 

The first time this happened ( XX/XX/XXXX ) I had just started working with a shop for the second time, and my first check was held for 10 days due to a fraud excuse. My employer showed me they had the money the same day i deposited it, just like every other time they witheld money from me. We were stuggling really had at the time. I was able to use my second and third check before the first was available to use. 

Last year ( XX/XX/XXXX ) i deposited a check and took out some money and depositied the rest. They didnt even put the rest of the check in my account. I had to go all the way back to the branch to get the reminder of my money put into my account and wasted 2 houra of my day, plus gas to drive around.

They've snuck in extra overdraft charges multiple time by changing the reoccuring payment dates of posting to when the account was low. The last one was on XX/XX/XXXX. 10 days before the account is supposed to be charged just so they can charge me another unlawfull overdraft fee. Or they would hold off putting the check through a few days so they could charge me for the monthly service fees for falling below the minimum account balence amount I am considering making an appoointment to speak to a lawyer about the matter because I have screen shots, pictures of and/or bank statements ( from my own account, clients and my previous employer ) call logs ect. That can prove and vefiry all of this beyond a reasonable doubt. 

They continue to run their business unlawfully costing me thousands of dollars, wasted hours of my time and resources and all around made my life more stressfull so they can hold my money XXXX and use my money to make a profit. A profit which they made substantially less than the amount of money was losing becase of their fraudualent buissnes practices. 
The way the do bussness is no different than the people out stealing catalitic coverters. They make a few bucks, while costing people hundreds or thousands with no reguard for people their screwing over, cause they're making money out of it.

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