Consumer complaint received 2017-11-11
Company: WELLS FARGO & COMPANY
State: AL
Product: Checking or savings account
Sub-product: Checking account
Issue: Problem with a lender or other company charging your account
Sub-issue: Transaction was not authorized

Complaint:
OnXX/XX/XXXX, I received an email from XXXX XXXX saying that a {$2700.00} XXXX had been purchased in my name, with my XXXX account, and the XXXX was to be picked up by a person with a completely different name than mine in an entirely different city ( hours away ) from where I live. Upon receipt ( within one hour ) of the email, I immediately called XXXX XXXX and cancelled the order and reported the fraudulent transaction. XXXX XXXX immediately cancelled the order, agreed the transaction was fraudulent ( as the order was made with my XXXX account, which had clearly been hacked, but the product was to be picked up by someone else in a different city ). I received an email from XXXX XXXX within minutes confirming that the order had been cancelled. I immediately received an email from XXXX  stating that they had been informed of the fraudulent transaction and that XXXX XXXX had already ( as of XX/XX/XXXX ) issued a refund. Nonetheless, the next day (XX/XX/XXXX ) XXXX submitted the fraudulent transaction of {$2700.00} to my bank ( Wells Fargo ) ; this fraudulent transaction immediately consumed my entire available balance and made me overdrawn, and due to overdraft protection, also wiped out my savings account and caused me to accrue charges on my credit card.
Immediately after I was made aware of these facts ( on XX/XX/XXXX ), I called Wells Fargo to inform them of the fraudulent nature of the transaction and to let Wells Fargo know that XXXX XXXX had already determined the transaction was fraudulent and issued a refund. The individual at Wells Fargo with whom I spoke processed my complaint, issued a claim number, and informed me that the transaction would be immediately suspended so that I would not be overdrawn and would be able to use my account. She also informed me that I would be contacted within 24 hours ( via email and telephone ) by a Wells Fargo fraud specialist who would speak with me about the claim. I offered to forward her the emails regarding XXXX XXXX 's and XXXX 's issuance of the refund and their determination that the transaction was fraudulent ; she declined and said the claims specialist ( who was to contact me ) would ask about such documentation.
On the morning of XX/XX/XXXX, the transaction was not suspended. My checking account was overdrawn. Due to overdraft protection, my savings account was also wiped out and I had accrued charges on my credit card. I had not heard anything from the Wells Fargo fraud/claims division, so I called them directly. I spoke with someone in that department, who said there was nothing to report. Contrary to the earlier Wells Fargo representative 's assertions, she said that there would be no suspension of the transaction. Even though XXXX XXXX ( with whom the purchase was made ) agreed the transaction was fraudulent, that fact was irrelevant to Wells Fargo. The bank would process that purchase and would make no adjustments to my account of any kind until after Wells Fargo 's investigation was complete. I literally can not fathom why Wells Fargo would need to further investigate a transaction when the seller and their customer, the account holder, each agree the transaction was fraudulent. In any event, the Wells Fargo claims division made clear they would do nothing regarding my account and it did not matter to Wells Fargo that I had no cash available and no ability to take care of my family or pay my bills ( not because of my own failings, but because of a transaction to which every party knows is fraudulent ).
Later during that day, XX/XX/XXXX, I spoke with another Wells Fargo representative who informed me that the fraud department is closed and " should '' get back to me sometime next week.
It is now XX/XX/XXXX and I have no cash, no funds, and no ability to pay my bills or take care of my family, and one of the main reasons is that Wells Fargo has chosen to turn a blind eye to a purchase they know is fraudulent. As far as I can tell, Wells Fargo has chosen to not investigate the fraudulent transaction and has simply chosen to ignore my claim, and ignore the determinations of XXXX XXXX and XXXX, each of which have confirmed that the transaction was fraudulent.

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 monetary relief