Consumer complaint received 2022-05-03
Company: WELLS FARGO & COMPANY
State: PA
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Other features, terms, or problems
Sub-issue: Problem with balance transfer

Complaint:
After receiving an offer for a XXXX  % balance transfer from Wells Fargo, through the mail, I requested same online for the amount of {$7300.00} ( the balance of a XXXX XXXX that I owned ending in XXXX ). Subsequently, I received, through the mail, on XX/XX/XXXX an approval for exactly {$6000.00} from WF ( an amount insufficient to satisfy the aforementioned balance. ) Recognizing this, I then took advantage of a similar offer presented by XXXX XXXX XXXX, which provided a credit limit of {$9000.00}, ( received via U.S.Mail, on the same day ). After committing, via phone, with XXXX, I, as a courtesy, contacted WF in order to determine their process for declining the offer for the lesser amount. On that same day, XXXX @ XXXX, I spoke with the first WF representative " XXXX XXXX who advised that she did not know what to do and transferred me over to XXXX ( pronounced XXXX ) who proceeded to let me know that the transfer was pending ( initiated that day ) and he could do nothing to stop it. I insisted that the process be halted because I had accepted the offer from XXXX. XXXX continued to persist with the claim that " he could not stop the initiated process '' but advised that he could transfer me over to his escalation/customer advocacy group ; within this group I spoke/w " XXXX XXXX '' who immediately informed me that the process was laid out in my terms and conditions. I read through same while on the line w/XXXX and this provision was not listed. She then said that someone would send them ( the terms reflecting the initiation of the balance transfer ) to me, nonetheless, despite the fact that I had not authorized the transfer, and the credit limit being less than the balance transfer requested, WF had processed the balance transfer. When I submitted to her that this was a predatory act with the sole purpose of enacting a fee, she said that she would have her XXXX XXXX group reach out to me and gave me a case # ending in XXXX. After several days, I received an email from Case Specialist " XXXX XXXX '' Having attempted to contact her directly for several days, I finally was able to converse with her on XXXX. We had a contentious conversation through which she let me know that WF would evaluate the situation and have a response in 11 days and the verdict would be final regardless of the outcome. Overall, my complaint is that I did not authorize the balance transfer. My reasonable expectation was that I would need to speak to someone and detail my options, especially since the credit limit offered was less ( by more than {$1000.00} ) than the requested transfer amount. Also, based on the consequences that WF suffered after being convicted of fraudulent behaviors in the early XXXX 's [ XXXX  : XXXX ], I believed that they would be far less apt to present themselves in this deceitful manner. I have suffered emotionally, and possibly financially from this process... please assist. I will happily return the amount of the transfer ( being that I recognize that it was applied when I checked the XXXX XXXX account on XXXX ). I spoke/w with a rep from my XXXX company who said that I could request a check for the credit and return it to Wells Fargo XXXX I am disgusted by their tactics and it is not difficult to see that the only reason for them to have acted in this was is to garner the fee, assuming my unwillingness to complain to ALL of the protection agencies available. This is a predatory act that is not remedied through the simple return of the funds because they will require that a fee be paid to them for the transfer. Please note that I had gone trough every available channel to resolve this matter in good faith.

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