Consumer complaint received 2020-09-20
Company: WELLS FARGO & COMPANY
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
During COVID all my direct deposits where rerouted for extra weeks Here is the letter I received I was shocked!! 
Wells Fargo logo Dear XXXX XXXX XXXX : Wells Fargo performs ongoing reviews of its account relationships in connection with the Banks 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/20. 
Be aware that some circumstances may delay the closure of your accounts. To learn more, refer below to " What may delay account closure? '' Please review the following important information to help you prepare for this transition. 
What this means for the accounts listed above as of the date of this letter : Deposits have been blocked. 
- If you have recurring deposits ( for example, your paycheck or pension ), please redirect the deposits to a non-Wells Fargo account. 
- If your account balance is or becomes negative and you would like to make a covering deposit or transfer, contact XXXX to arrange for the temporary ability to make a deposit. 
You may access any available funds until the accounts are closed. 
- We will only authorize new withdrawals or payments from your account if you have sufficient available funds in that account or in an account linked for overdraft protection. 
- We must pay certain transactions that are received for processing before your account closes, even if this creates a negative balance in your account. 
- This includes the payment of any previously authorized transactions ( for example, debit card purchases ), but no overdraft fees will be assessed if you do not have sufficient funds in your account. 
- We must also process the reversal of any previously credited deposits that are returned unpaid and may assess a returned deposited item fee. 
- If your account does not have sufficient funds, then previously established recurring payments will be declined and checks will be returned unpaid. While we will not assess an insufficient funds fee on these transactions, the merchant you attempted to pay may assess  returned payment fees. Contact these merchants as soon as possible to make other payment arrangements. 
What happens to the balance in your accounts when the account is closed? 
If the account balance is positive at closure we will mail a cashier 's check payable to you for all money due to you. Wh at may delay account closure? Account closure m ay be delayed beyond the date listed above.  The most common reasons include : your account has a negative balance, has pending transactions, or is subject to a legal order hold. Once the issue preventing closure is resolved, we will send you a final statement and a cashiers check for any remaining positive account balance. If your account balance is negative, you are responsible for immediately repaying the outstanding balance. If you do not repay the amount and the account is later closed with a negative balance, this may be reported to consumer reporting agencies. 

We are here to help If you have questions, please call us at XXXX, Monday through Friday, XXXX XXXX. to XXXX XXXX., or Saturday, XXXX XXXX to XXXX XXXX Pacific Time. 

Sincerely, Prevention Contact Center wellsfargo.com | Security Center

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