Consumer complaint received 2023-04-08
Company: WELLS FARGO & COMPANY
State: CA
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Deposits and withdrawals

Complaint:
TRANSACTION HOLD BY WELLS FARGO BANK on XX/XX/XXXX I deposited XXXX checks into my business checking account at Wells Fargo, with a total amount of {$10000.00}. 

on XX/XX/XXXX, Wells Fargo Bank wrote me a letter, stating that they are expecting " a claim for the funds from the party that issued them, or their bank '', the remaining balance will be on hold in a " temporary account ''. If a claim is NOT received within 60 days " as expected '', they will mail me a cashiers check for the collected available balance in the account. 

on XX/XX/XXXX my account was closed. The remaining balance was taken by Wells Fargo into so called " temporary account ''. 

on XXXX XXXX, because the waiting period of 60 days ended, I started to call Wells Fargo Loss Prevention , after getting transferred dozens of times, I was finally told to bring original checks to any Wells Fargo Branch . 

on XX/XX/XXXX, After going through my piles of mails, I finally found original checks and brought them to a banker, located at a local Wells Fargo branch. The banker scanned all my checks and uploaded them to the Loss Prevention department. Thereafter nothing happened. 

From XXXX to XX/XX/XXXX, we made numerous phone calls to Wells Fargo. The only answer we got was to contact the check issuer to claim a refund from Wells Fargo. As a result, we made numerous phone calls and writings to the check issuer. In the end, the check issuer clarified that since the check was already CASHED, nothing needs to be done by the check issuer. 
Finally we were suggested to hire an attorney and sue Wells Fargo, because they actually deceptively took our money. 

on XX/XX/XXXX, I mailed a demand letter to Wells Fargo Bank , N.A . asking for payment before going to court. 

on XX/XX/XXXX, I received a phone call followed by email from XXXX, titled " Wells Fargo Case Specialist Introduction '', stating that " I am a Case Specialist in the Wells Fargo Enterprise Complaints Management Office. My role is to research and resolve your complaint. I wanted to let you know that I have started my research and that my goal is to provide you with a resolution on or before XX/XX/XXXX ''. 

on XX/XX/XXXX, early morning, I received a phone call and email from XXXX again, stating that " Action was required from you in order to verify the items deposited on XX/XX/XXXX. The information was reviewed, and it was determined that in order to release the funds you must visit a branch location and provide two valid forms of identification. Please visit your nearest branch location to speak with a banker for further assistance '' on XX/XX/XXXX, at XXXX, I appeared at Wells Fargo local Branch . I was there until past XXXX, during this time, the banker helped me make over dozens of phone calls, getting hung up, getting transferred, getting hung up again. The banker was very sympathetic, but all the phone calls didn't go anywhere ... .... 

on XX/XX/XXXX, I showed up at XXXX when this Wells Fargo XXXX opened. and I stayed there until XXXX. This time the banker was able to talk to XXXX. XXXX said she emailed my banker early morning. However, there was no clear instruction on what to do to get my refund check issued. After talking to my banker for a little while, XXXX transferred the phone call to another lady, and XXXX left. The other day told my banker that it takes XXXX weeks or longer to get the funds.My banker insisted to talk to someone who take actions, and finally, a gentleman answered the call. He said he handles the refund, but he can not be reached by phone, there is no personal extension number to reach this mysterious gentleman, and he has no idea what exact date my cashier 's check will be generated ... .. one lie after another lie. 
I truly believe that this whole thing is a lie. I waited 60 days from XX/XX/XXXX, nothing happened, although they promised to mail me a cashier 's check in 60 days. 
I delivered original checks to Wells Fargo branch on XX/XX/XXXX, the banker uploaded them into their system, nothing happened. 
Yesterday and Today, I am fooled, bringing two IDs into a local branch of wells fargo, again, nothing happened. 
If there is justice in this world, it is the US government and the Court.

I highly believe that CFPB and the Court will help me get my money back, also give Wells Fargo Penalties for violation of the law.

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