Consumer complaint received 2022-12-07
Company: WELLS FARGO & COMPANY
State: FL
Product: Checking or savings account
Sub-product: Savings account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
On XX/XX/2022 I logged in to my Wells Fargo savings account and noticed that there were four suspicious transactions on my account. Two deposits for {$0.00} and {$0.00} on XX/XX/2022 as well as two withdrawals for {$0.00} on XX/XX/2022 and {$320000.00} on XX/XX/2022. These unauthorized transactions showed up as account verifiers and bank transfer. I didn't receive any form of notification ( push notification, email, phone call, text, app notification, etc. ) from my bank. If I had not logged in to my online banking account and called the bank I wouldn't have ever known the money was missing from my account. 6 days had passed since my account was compromised and no form of contact from my bank to inform me or verify if I had made this {$320000.00} transaction. As a consumer, I take a very strong issue with a lot of what has occurred with this debacle and going to articulate it the best way I can. 

I have been with Wells Fargo for over 20 years and have never encountered a situation like this. The savings account I opened about a year ago I, used to put away funds from the sale of a house in Nebraska. The only thing I would use that account for is to transfer smaller increments from it to my checking account or vice versa to put away job earnings. At no point have I ever made a purchase for any amount close to {$32000.00}. Although the funds have been returned concluding an investigation, it is goss negligence on their part to never even inform me of absolutely any activity. Not a single attempt to contact me so i can know that {$32000.00} was gone from my account. As a tenured customer I am aware this is a XXXX violation. On the company website it states my account is monitored XXXX for fraud alerts/protections. I have experienced none of that sort with this incident. This is unfair to me as a consumer as a service is promised, but undelivered. I have lost confidence in Wells Fargo as a banking service provider, along with time from work, and peace of mind due to this incident. What really bothers me is the company did not so much as even telling me anything about what happened unless I opened my app. This transaction is an irregularity comparative to my activity history, yet it was treated as ordinary business. I was even asked by a representative if I had " conducted business '' with the unauthorized party in the past. It's offensive and discriminatory to ask me that because this would not have happened at all if the bank had done its proper servicing on my account. I feel singled out as a person of XXXX, being asked that, for simply having a savings account. It was an insinuation that I am laundering money! 


This negligence from the company with my account has eroded my ability to trust financial institutions, and I have been made to unfairly feel " responsible '' for what occurred. I know about XXXX rules and XXXX 's needed to be filed. I refuse to be made an example of and discriminated against just because the institution whom I entrusted to safeguard my money, could not do so. I have absolutely no problem involving my attorney in this matter and am looking for {>= $1,000,000} in punitive remediation for damages caused. Please contact me to discuss this.

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