Consumer complaint received 2023-07-11
Company: WELLS FARGO & COMPANY
State: OH
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
Dear Consumer Financial Protection Bureau, I am writing to file a formal complaint regarding a series of unauthorized transactions ( XXXX transactions totaling {$23000.00} ) that occurred on my Wells Fargo Bank account. Despite my efforts to resolve this matter with Wells Fargo directly, I have encountered significant obstacles and unsatisfactory responses from their representatives, which have left me frustrated and concerned about the security of my funds. 

On Friday, XX/XX/XXXX, at approximately XXXXXXXX XXXX EST, I received a text message alert from my other bank notifying me of suspicious activity in my account. Responding promptly, I immediately logged into my online banking platform and informed my other bank that the transaction was not authorized, resulting in them halting the transaction. However, upon accessing my Wells Fargo account, I discovered a series of unauthorized transactions originating from a merchant in New Jersey. 

Realizing the severity of the situation, I contacted Wells Fargo on Saturday, XX/XX/XXXX, and filed a fraud claim, providing them with all the necessary information and details pertaining to the unauthorized transactions ( Claim Reference Number : XXXX ). The agent handling my case assured me that a fraud XXXX would be in touch within XXXX to XXXX business days. However, it wasn't until XXXX ( XXXX ) days later, on XX/XX/XXXX, that XXXX from Wells Fargo reached out to me, stating that he was assigned to investigate my fraud claim. He confirmed that I had submitted all the required details and informed me that he would contact me soon with further updates. 

To my disappointment, on XX/XX/XXXX, XXXX contacted me again and shockingly stated that he did not find any indication that the transactions were fraudulent. How could that be? When I sought clarification on how he arrived at this conclusion, he refused to provide additional information, including his last name. After persistently seeking answers, I contacted Wells Fargo once more, and after being transferred between several representatives, I finally spoke to someone who failed to provide satisfactory responses to my inquiries. Specifically, when I asked about the steps taken to investigate the claim and whether the purchase was made online or in-person, I was met with dismissive and unhelpful answers. I also requested information about the shipping address for the merchandise if the purchase was indeed conducted online. Regrettably, I was essentially brushed off and told that my money was irretrievable, leaving me astounded and deeply concerned. 

It is crucial for Wells Fargo to understand the gravity of this situation. The total amount of the unauthorized transactions amounted to {$23000.00}, which represents a significant sum of money that I had worked diligently to save. Therefore, I am resolved to take any necessary actions to ensure that my funds are refunded to my bank account. If Wells Fargo fails to rectify this matter promptly, I am prepared to exhaust all available means, including utilizing my remaining resources to retain legal representation and raising public awareness through local news stations. It is imperative that the public becomes aware of how Wells Fargo treats its customers and the potential risks associated with entrusting their money to this institution. 

I implore Wells Fargo to uphold its responsibility to its customers and promptly initiate the necessary steps to reverse the unauthorized transactions on my account. Furthermore, I request that Wells Fargo provide me with a comprehensive and transparent explanation of the investigation process undertaken thus far, including any relevant details surrounding the origin of the transactions and the steps they have taken to determine their legitimacy. 

I appreciate your attention to this matter and request your assistance in resolving this issue promptly. I have attached copies of relevant documents, including correspondence with Wells Fargo, to support my complaint. Please let me know if any additional information is required to investigate this case thoroughly. 

Thank you for your time and anticipated cooperation. I look forward to a prompt resolution to this distressing situation. 

Yours sincerely, XXXX XXXX

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