Consumer complaint received 2023-01-30
Company: WELLS FARGO & COMPANY
State: OR
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
I have been a customer with Wells Fargo since XXXX. Until this issue I was mostly satisfied with their services. On XX/XX/XXXX I received a letter stating Wells Fargo was closing my account due to a random examination of accounts noticing a XXXX party deposit that was put through my account in XXXX. Note that the check deposit was attempted but not paid/cashed. NO funds were disbursed. I was surprised to learn they would be closing my account as I had in fact deposited XXXX party checks randomly in the last XXXX years banking with them. It had never been an issue before. Also note that I had deposited my income tax return via incoming wire transfer every year as well as my husbands. Both wire transfers have always come in without issues every year prior. I had no reason to believe this year would be any different. I instructed the IRS to deposit both mine and my husbands tax return into my Wells Fargo account months ago when I filed my return. 
Upon learning of the account closure, I became concerned as I knew the IRS would be depositing these returns any day now. In the letter from them and confirmed in multiple conversations with Wells Fargo employees the week of XXXX they assured me that they would be able to allow the incoming wire transfers fund into the account. They instructed me to call every day and when they saw the funds they would do their part to credit the account. I called every day and finally on Friday XX/XX/XXXX the funds were showing in their system. The person I spoke with XXXX, told me that she saw both wires and confirmed amounts, the total of both = {$20000.00}. She said the funds had to be received over night and would be available for me to withdraw on Saturday if my husband and I both came into the branch with our valid ID 's. 
On Saturday XX/XX/XXXX I drove XXXX hours to meet my husband where he has been working and where there was a branch of Wells Fargo open on a Saturday. When we arrived we were met with a new reality far different than what I had been told all week and had planned for. Times are hard and we are financially in a way that this money is very much needed. When we arrived at the branch with our valid IDs as instructed the banker informed us that Wells Fargo was NOT going to release the funds. I was told they would issue me a check via mail weeks from now after they closed the account. I informed them that this was not what I was told at all and ask if they could close out the account now and release my funds to me. They said no with no explanation only that they would NOT release my funds to me that they are keeping them for reasons that make no sense. They made mention of a {$170.00} check waiting to clear, I said they could keep some of the funds to cover that, but I needed access to a portion as we are in emergent need in my family for these funds so we don't lose our home. My payments are due and this money is more than needed. I don't understand how the bank can steal this money from me and go back on everything they have been saying and what I was expecting. I am XXXX XXXX and feel like the bank is going to keep my money and never give it back. It is terrifying to feel like this. Please help me!

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