Consumer complaint received 2018-02-22
Company: WELLS FARGO & COMPANY
State: FL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Overdrafts and overdraft fees

Complaint:
On XX/XX/XXXX, I had to transfer {$5000.00} from my checking account to my savings account to avoid being defrauded by a fake airbnb user, while I attempted to fix the issue directly with Airbnb customer care. On XX/XX/XXXX, a purchase on coinbase went through on my checking account and the bank had to cover the XXXX purchase. I immediately received an e-mail notice of insufficient funds and after having resolved the issue with XXXX, I transferred {$4000.00} back to my checking account from my savings on the exact same day ( XX/XX/XXXX ). Apparently, the bank charged me {$70.00} worth of overdraft fees ( one for covering the XXXX on coinbase and the second one for my XXXX transfer to my savings account ) and withdrew it from my account without reflecting such withdrawal on my online banking transaction history. A week or two later, I received a Notice of Insufficient Funds on the mail, stating that the bank had charged me XXXX for my online transfer and for to coinbase purchase. After reviewing the notice, I checked my account again to see if those charges were reflected on my account. Not having seen the XXXX withdrawal ( or two separate {$35.00} withdrawals ) I thought the bank had made a mistake sending me that Notice and not charged me any overdraft fees since I covered the overdraft on the same day. Fast forward to XX/XX/XXXX, the bank claims to have issued a refund for the XXXX, which again is not reflected on my online banking transaction history. After calling the bank 's online banking department and speaking to supervisor XXXX XXXX, the bank had no feasible explanation for what had occurred. The IT department of the bank figured it must have been because " the transactions happened after the cycle had ended and I needed to wait for another cycle for it to reflect '' ( meaning the banking institution can just take out money from anyones account after the end of any cycle and it will not reflect ). XXXX XXXX encouraged me to speak to the Internal Complaint Department of the bank. After speaking to another employee, her explanation was that because " the bank issued a refund, the transactions balanced out and the bank does not reflect that on the transaction history. '' Both answers given were false. I have screenshots of my mother 's account, who also banks at Wellsfargo, clearly reflecting when a fee is withdrawn and when a fee is refunded. This situation has been extremely alarming and concerning. As of today, those transactions have yet to reflect on my online banking transaction history. The notion that I have to trust that this is the first time this happens is simply preposterous. I can not believe a banking institution is allowed to withdraw money from my account and not reflect it. I went to a branch in my area and they kindly printed out a transaction history that is only available to them, which clearly shows that the XXXX were indeed withdrawn by the bank on XX/XX/XXXX and refunded XX/XX/XXXX. Nevertheless, neither of those two changes are reflected on MY view of my account.

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