Consumer complaint received 2018-03-24
Company: WELLS FARGO & COMPANY
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Domestic (US) money transfer
Issue: Other transaction problem

Complaint:
On XX/XX/XXXX my Wells Fargo Bank checking accounts were hacked. An unauthorized/fraudulent online transfer was made in the amount of {$20000.00} from one of my checking accounts to the other resulting in a loss of {$19000.00}. I was sitting at the desk of Wells Fargo personal banker, XXXX XXXX, at the XXXX XXXX, CA branch when he informed me that an online transfer was made that day. I immediately told him that I made NO ONLINE transfers that day, yet he failed to correct or reverse the transaction. I told him within minutes of it happening that I made NO ONLINE transfers that day. I also received an alert on my XXXX when I returned home notifying me of the {$20000.00} online transfer. The notice said, " If you do not recognize this transaction or need assistance, you can reach us at XXXX, 24 hours a day, 7 days a week or by secure mail ''. I immediately returned to the bank, which is about 3 minutes away, and again told the bank teller that I DID NOT make any online transfers that day and that it was an unauthorized and fraudulent. All this happened within an hour on XX/XX/XXXX. I sent a letter to Wells Fargo Bank Manager, XXXX XXXX, requesting that the funds be returned and received no response. I sent an email to Wells Fargo 's XXXX XXXX XX/XX/XXXX requesting that the funds be returned but received no response. I met with XXXX XXXX, Wells Fargo Regional Bank District Manager on XX/XX/XXXX about this matter and the matter of the wire transfer funded by the unauthorized/fraudulent transfer resulting in the loss of {$19000.00}. The wire transfer was investigated under a related complaint to CFPB reference # XXXX. Wells Fargo 's response to that complaint only addressed the failed attempt at the wire recall but no mention was made of personal banker, XXXX XXXX 's, failing to protect my funds by reversing the transaction after my telling him of the unauthorized transfer within minutes of the transaction occurring and before the wire was initiated. The part that was not properly investigated was the original unauthorized/fraudulent online transfer. In all my efforts to discuss the unauthorized/fraudulent transfer, which was what funded the wire transfer ; an open, transparent discussion and investigation did not take place which would have included personal Banker, XXXX XXXX, who should be held responsible for not reversing the transaction immediately. In my discussions with XXXX the Assistant Branch Manager, XXXX XXXX the Branch Manager, and XXXX XXXX the Regional Banking District Manager, they never included XXXX XXXX in the meeting to confirm his lack of action to protect my funds. I told them what he did and did not do but they brushed it off and focused only on the wire transfer and warned me about the pitfalls of wire transfers. 
I properly and promptly notified Wells Fargo verbally with in minutes, in writing and email within 10 days of the unauthorized/fraudulent online transfer per my Customer Account Agreement requirements but nothing was done. The first thing I asked XXXX was were their sufficient funds in the checking account being used for the wire transfer. He confirmed there was. I asked did those funds come from outside the bank? He replied that an online transfer was made that day to this account. I immediately told him that I made NO ONLINE transfers that day. He did not pursue my response or reverse the obvious unauthorized/fraudulent transfer. He went to talk to XXXX, the assistant bank manager, then returned to say the funds were available for the wire. I assumed that he realized that he was mistaken, and the funds did come from outside the bank. As a precaution and confirmation that the funds in this checking account did not come from my other larger balance checking account, I stated to XXXX that I wanted to make sure no funds being wired came from the larger balance checking account. XXXX could see on his monitor that the funds in this account did come from the larger balance account, but he did nothing about clearing up an obvious serious matter of a {$20000.00} unauthorized transfer and he didn't immediately reverse it but proceeded to wire those funds out.

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 non-monetary relief