Consumer complaint received 2017-01-10
Company: WELLS FARGO & COMPANY
State: MO
Product: Consumer Loan
Sub-product: Installment loan
Issue: Problems when you are unable to pay

Complaint:
I spent over an hour on the phone with Wells Fargo attempting to make payment for a small loan taken out on an engagement ring. I made one payment via credit card about two weeks ago, and called back today to attempt to pay the remainder of the loan ( approximately {$1500.00} ). 

Wells Fargo flat out refused to accept payment. They told me that they would not allow me to make a payment using my credit or debit card until my account went delinquent, allowing them to hit me with exorbitant late fees. Surely it ca n't be legal for a major banking institution to literally FORCE customers into delinquency by refusing to accept payment? 

I spent nearly an hour on the phone trying to make this payment. I was transferred to six different people, including two individuals in the executive office, who all fully refused to accept my payment. They told me that the only payments they would accept are by linking my personal ( non Wells Fargo ) bank account to their service and allowing them to make automatic deductions as they see fit. 

I refused to do that on the grounds that my previous dealings with Wells Fargo were similarly predatory. They refused to close a bank account I had open from my time in the military. I went to the branch in person before I was discharged, withdrew all funds, and told them to close the account. A year and a half later, I found that they had kept the account open, and had been charging me increasingly steep " maintenance fees '' ever since. They refused to close the account unless I went back to that branch, in person, and requested it again. I had already moved to a completely different state. I had no choice but to default on the debt. 

Given their previous incompetence and/or predatory services, combined with the recent news that they had been pulling similar gambits for years, opening accounts and filing charges under other peoples ' names without permission, I absolutely refuse to authorize this bank to make withdrawals from my primary bank account, and I do n't think that 's unreasonable in the slightest. The only method of payment that I am comfortable with is using a credit or debit card, so that I may monitor and dispute any charges that I did not authorize. 

Yet, this bank will not allow me to make payments. Even though they previously accepted a payment via debit card, they are now telling me that they will not allow me to make a payment on my loan unless I first let my account go delinquent. Surely this can not be legal? I am making every attempt to make my payment in safe terms -- how can they be allowed to refuse to accept those payments? How can they be allowed to literally force my account into delinquency, saddling me with steep fees and absurd interest payments ( 30 % per month ... ) My payment is due by XXXX XXXX. I do n't know who else to turn to, here. All I want to do is pay my bill.

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