Consumer complaint received 2022-08-22
Company: WELLS FARGO & COMPANY
State: PA
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem caused by your funds being low
Sub-issue: Non-sufficient funds and associated fees

Complaint:
I did a mobile deposit on XX/XX/XXXX in the amount of {$5000.00}. It was a check from my Home Equity Line of Credit from XXXX XXXX that I was depositing in my Checking account for credit consolidation/ Home Improvement. 
I went in the Bank on XX/XX/XXXX and deposited a check in the amount of {$10000.00}. I gave this check directly to the teller. It was a check from my Home Equity Line of Credit from XXXX XXXX that I was depositing in my Checking account for credit consolidation The Teller informed me ( it was Friday ) that the funds would be available on Sunday the XXXX. I told her that is great since I was using it to pay off a credit card on Tuesday the XXXX I made the payment on the XXXX and everything looked like it was available in my bank account. 
On Thursday XX/XX/XXXX, I received a letter stating that Wells Fargo received a debit from XXXX ( a credit card that I have paid many times via my checking account ) will not be paid because of insufficient funds and possible fraud. 
I called their customer service and after escalating it to a manager. I was told that the checks were not being paid and they were not sure about the funds being available. I asked her to contact XXXX XXXX and she informed me that this isn't how it works. She then told me that I need to contact XXXX XXXX because XXXX did NOT pay out the checks. I gave her the benefit of the doubt and contacted XXXX XXXX. They informed me that both checks were cashed ; on XX/XX/XXXX and XX/XX/XXXX. So not only were they cashed by Wells Fargo and should be readily available for me to use as per the teller at the XXXX XXXX  Wells Fargo but as of XX/XX/XXXX ( and checked again on the XXXX and XXXX ). 
I contacted the Branch Manager of Wells Fargo XXXXXXXX XXXX  and told him that I was not happy with this and that I contacted XXXX XXXX and that the funds were cashed already by Wells Fargo. I was paying interest on the Home Equity Line of Credit and that we were cashed XXXX  days ago and XXXX days ago and that I wanted to know WHERE the money was. He informed me that there is nothing he could do and that he will put in a report to have this reviewed by upper management or a department that handles this. He was rude and told me that the funds were being held due to Regulation CC. I was not familiar with this and did some research on this law and from what I was reading ; Regulation CC was created to protect the consumer. Basically checks were now able to be cashed electronically oppose to needing the hard copy check so that it would save time. This seemed almost Ironic that he mentioned this and that the funds were indeed cashed and they were not releasing the funds. 
I contacted XXXX XXXX and both the teller and the branch manager told me that Wells Fargo can contact them to verify the funds are available and have been cashed. The Branch Manager of Wells Fargo told me that he won't do this and that there is nothing he can do to help. 
I called Wells Fargo Customer Service AGAIN and was talking to a much nicer representative. She was not able to help but she did tell me that the check was being held due to potential fraud. So now I have 3 different reasons given to me from Wells Fargo. 
I am not sure why it is considered or being held because of Fraud. I am not a new customer. I never had any issues with my bank account in the past. I checked my activity in my wells fargo accounts and everything seemed normal activity. 
So bottom line that I wrote a check from my Home Equity Line of Credit and then paid out a credit card that I have paid many times I have checked my account today XX/XX/XXXX and the funds are reflecting that they were in my account on XX/XX/XXXX and XX/XX/XXXX which is a lie. My XXXX XXXX payment that was bounced was resubmitted by Wells Fargo and did clear. But this was a disaster and handled terribly by Wells Fargo and I am annoyed that I had to go thru all of this. What were they doing with the {$15000.00} during that time? Why was it being held? I got 3 different reasons for the hold up. 
I am closing my account with Wells Fargo in the near future because of this incident. Because I feel like true fraudulent activity that was being done was due to Wells Fargo and that they were holding my money hostage.

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