Consumer complaint received 2015-10-28
Company: WELLS FARGO & COMPANY
State: UT
Product: Money transfers
Sub-product: International money transfer
Issue: Money was not available when promised

Complaint:
On XXXX XXXX, 2015 a wire transfer for {$500.00} was sent from XXXX to my credit union account. XXXX traces of the money XXXX reavealed the money was with Wells Fargo Bank. Wells Fargo is the intermediary bank for this transfer. The result of the XXXX trace was that Wells Fargo Bank claimed that my credit union had not responded. The XXXX trace result was the Wells Fargo Bank claimed the names do n't match. 

My credit Union states they have not heard from Wells Fargo Bank. If the XXXX claim were true, then why is Wells Fargo still holding the money after 6 weeks. I went to my local branch of the credit union to ask for their help. After checking with their own wire department and not locating any funds inbound to my account they reluctantly called Wells Fargo Bank. The manager wanted me to call but I advised her that they will not talk to me as I am not a customer of that bank. Wells Fargo advised the manager of my XXXX XXXX XXXX branch that {$500.00} is a very common amount and that it would be better to have the funds recalled. Frankly I was appalled by this response. They were essentially refusing to help in any way. Further after talking to my father he went on to confirm with his bank that if we were to recall the funds there would be more fees to do another transfer. 

I went to a larger branch of XXXX XXXX XXXX XXXX to beg for some help. I sat down with the Assistant Manager who agreed to try and get the funds located and sent through. During the second meeting with him he called The Fed for help. The Federal Reserve suggested as part of efforts to resolve the situation that I should submit a complaint to the CFPB. 

Today is XXXX/XXXX/2015, approximately 6 weeks since the wire was sent and to date there has been no resolution to my case. XXXX XXXX has been attempting to resolve this in conjunction with my father 's bank in XXXX. The money was originally sent as a small loan to help me with repairs to my car which is necessary for me to get to and from work as there is no public transport near where I work. The result has been that I had to use my own funds and I will now not have enough money to pay my rent. Obviously this is getting desperate for me and yet this could all be resolved if Wells Fargo would release MY money and complete the transfer started 6 weeks ago. 

It should be noted that I had a transfer of funds from XXXX sent about 18 months ago using the same information which reached my account in about 3 days. 

I am aware of UDAAP and I believe this situation falls into the category of Unfair, Deceptive, Abusive Acts or Practices. It is certainly unfair to be withholding my funds and causing me financial hardship for no good cause. The potential I face now where I could be evicted is most certainly abusive. I am not asking for anything more than to have the transfer completed. I am hopeful you can help get this resolved for me before time runs out for me to pay my rent. I would also appreciate any advice you can give. For example : should I be seeking legal assistance or maybe take this to the press to put pressure on Wells Fargo Bank? 

The Assistant Manager at XXXX XXXX XXXX has been in contact with the sending bank in XXXX over a week but to date there has been no indication of a resolution. Please do not let Wells Fargo Bank get away with this treatment. I am desperate for this transfer to be completed. 

As far as compensation is concerned I only wish the the transfer be completed. Having said that, if my father or myself were to incur any additional costs or expenses as a direct result of this situation then in that circumstance I would seek that such costs were covered by Wells Fargo. If Wells Fargo had sent the transfer through in the first place then there would be no issue.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation