Consumer complaint received 2022-11-16
Company: WELLS FARGO & COMPANY
State: TX
Product: Checking or savings account
Sub-product: Checking account
Issue: Opening an account
Sub-issue: Confusing or missing disclosures

Complaint:
I made an appointment to open a business account. My appointment was approved. When I arrived the person helping me said right away, " We will not be able to open this today. '' I was confused. I asked " Why is that ''. He stated, " well my manager is not here to approve the account '' This was also due to my father needing to be added to the account. He is in another state. ( MS ) Nevertheless, he asked " Can I have your documents? '' I asked, " Which documents do you need? '' I wanted him to specifically ask for what was needed. I did not want to provide anything that was not necessary. He said " I will just take what you have ''. I hesitated but gave two documents : EIN number document and the Articles of Organization. He looked at the documents, seemed to look up a few things on the computer and then stated, " I will also need proof of the address for your business. Like a utility bill, lease, etc. '' I was confused. He then leaves the desk to speak to who he initially said was his manager but later said they were his co-worker. When he returns I tell him, " I do not have any of these documents. I did not know I would need them as it is not stated on your website that I would. '' He then continues to tell me over and over that this is required to open the business account. I asked, when did policy started. I previously opened a business account with Wells Fargo a few years ago with my husband. This was never asked. He said " It started in XXXX ''. After going back and forth I asked, " do you have this policy in writing anywhere? I've looked at your website and see no such policy. It does state, 'if the documents your provide inaccurately show your business ' address, additional documents may be requested '. Is there something that is inaccurate on the documents I have provided? '' He proceeds to tell me that he checks everything and I just printed this off the internet. I asked, what else should have been done to prove the formation of my business. He did not respond. He continues to say this is their policy but fails to produce anything to prove the policy. I asked when his manager would be returning. He said she will be out for the week. Safe to say I did not believe anything he had to say. I explained my confusion and said I have a feeling this is a subjective request based on his prejudices. Of course he disagreed but still could not produce proof of said policy. I asked, " so when others come to open a business bank account, do they automatically know what documents to provide? '' He said, " well I don't have a business but when others come they have all the documents needed. I don't know how everyone else thinks but they always have the things I am asking for. '' At this point I just want to leave. I left work as a teacher down the street early to make the appointment made the previous week to be met with discrimination and no business bank account.

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