Consumer complaint received 2023-01-27
Company: WELLS FARGO & COMPANY
State: AZ
Product: Checking or savings account
Sub-product: Checking account
Issue: Closing an account
Sub-issue: Company closed your account

Complaint:
I have already made several complaints about closing my account due to XXXX XXXX account and your company. I have attached your compensation you sent me and that's not going to work for me. You guys clearly closed my account for no reason and almost made me lose my house and paying my bills that were electronically taking out. Tried to put me in collections and had an investigator harassing me from wells Fargo. My child support payments that were linked to the account. This is not enough to compensate for all the problems you guys did. I will continue complaining until someone at Wells Fargo compensates me with some more zeros at the back of that check you sent me. Otherwise I will continue taking legal action. You can look up all the other complaints. 
We are responding to the concerns about the XXXX XXXX XXXX Bank ( XXXX ) you outlined in your correspondence to the Consumer Financial Protection Bureau regarding funds you received from XXXX member, XXXX XXXX, before she passed away and that you deposited to your Wells Fargo account. Our records show that checks in the amounts of {$50000.00} and {$20000.00} were made payable to you from a XXXX XXXX account belonging to XXXX XXXX. As you are not an accountholder, we can not release any information to you about the account. However, we can inform you that XXXX XXXX did pay the checks, and the funds are with Wells Fargo. XXXX XXXX did not reverse the XXXX checks from your Wells Fargo account. There is no further information XXXX XXXX can provide you, and we suggest that you speak with Wells Fargo. Thank you for the opportunity to review this matter and respond. 2nd complaint to this bank. I would like to know who revised the XXXX out of my account. Your answer was Wells Fargo revised it. That is not correct and I would like an answer. I have spoke to Wells Fargo and XXXX of you guys are stating false responses. This is what wells fargo responded with Our records indicate that on XX/XX/2021, Wells Fargo received two checks for deposit into your Wells Fargo XXXX XXXX account ending in XXXX. Check XXXX for {$50000.00} and check XXXX for {$20000.00} drawn off of XXXX XXXX XXXX bank. On XX/XX/2021, XXXX XXXX XXXX Bank returned the checks to Wells Fargo as the checks were no authorized by the maker or a representative of the maker. Wells Fargo debited then the account on XX/XX/2021, for {$70000.00} causing the account to become over drawn in the amount of - {$63000.00}. Due to the account balance and the checks being returned as unauthorized, a business decision was made to close out the banking relationship with you. We suggest that you continue to work with XXXX of why the checks were reversed. On XX/XX/2021, Wells Fargo made a claim against the late return of the checks, and XXXX XXXX XXXX Bank credit your account the {$70000.00} from the original deposit. The credit in your account brought the balance in your account from the - {$63000.00} to a positive balance of {$6600.00}. The balance on the account of {$6600.00} was mailed to you in the form of a Cashiers account due to the account being closed. Unfortunately, many times the requested resolution does not match the relief we are able to provide. As an advocate for our customers, we strive to remedy each request to the best of our ability ; however, we are restricted by items beyond our control, such as federal regulations, third party service agreements, and legal or regulatory implications. Please understand, the resolution we are providing is within the resources and compliance guidelines we are held to. So XXXX will needs to research who revised the XXXX back. I need an answer.I deposited XXXX personal checks, in my Wells Fargo account on XX/XX/2021. XXXX was for XXXX and the other for XXXX. I was told that there was a 15 day hold for the checks to clear. I contacted the bank on XX/XX/XXXX and the checks were released with good funds. Then on XX/XX/2021, I was informed that I had a negative balance of XXXX. Then I called the bank to see why the funds were revised. On XX/XX/2021 they revised XXXX back to my account and also the XXXX. I tried calling ( in to the bank ) several times as to why they took the funds from my account and I even went into the branch and spoke to the XXXX XXXX XXXX at XXXX XXXX in XXXX XXXX Arizona and he could not give me any clear reason as to why they withdrawal the money from my account. So I continued to call, I was told I called to much. Then Wells Fargo closed my account without giving me a reason. During this time it cost my payroll checks and also ach payments were being returned by my creditors. So now I feel like they owe me an answer and I feel that I was discriminated against. Wells Fargo was in a law suit recently XXXX XXXX for widespread mismanagement of deposit accounts. Am I part of this settlement? Thank you

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