Consumer complaint received 2019-07-17
Company: WELLS FARGO & COMPANY
State: NJ
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
In XX/XX/2019, I opened a checking account with Wells Fargo to take advantage of a promotional bonus offer of {$400.00}. The requirements were as follows and I have a copy of the email stating my application had been approved on XX/XX/2019 - Reference number : XXXX. It then goes on to tell me what the following steps will be ; debit card will arrive, set up direct deposit, view application. 

Bonus Eligibility Requirements : Everyday Checking is the only eligible account for the {$400.00} bonus when opened online. If you do not qualify for Everyday Checking but do qualify for Opportunity Checking, this offer can still be applied to the Opportunity Checking Account.

This offer is intended for new checking customers only. You are not eligible for this offer if : o You are a current owner of a Wells Fargo consumer checking account o You are a Wells Fargo team member o You have received a bonus for opening a Wells Fargo consumer checking account within the past 12 months.

Bonus Requirements : Open a new Everyday Checking account online with a minimum opening deposit of {$25.00} by XX/XX/2019. All account applications are subject to approval. 
o Within 150 days of your account open date, receive a cumulative monthly total of {$3000.00} in qualifying direct deposits to the checking account opened for this bonus offer for three consecutive months. During this time your new account balance must be {$1.00} or more. 
A qualifying direct deposit is the customers salary, pension, Social Security, or other regular monthly income, electronically deposited to this checking account through the Automated Clearing House ( ACH ) network to this checking account by your employer or an outside agency. 
Non-qualifying direct deposits for purposes of this offer include transfers from one account to another ( for example, transfers between your own accounts, or person-to-person transfers using a transfer service such as XXXX ), or deposits made at a branch or ATM, or through mobile deposits. 
Bonus Payment : We will deposit the bonus into your new checking account within 45 days after meeting all offer requirements. 
The new checking account must remain open in order to receive any earned bonus payments. 
You are responsible for any federal, state, or local taxes due on the bonus, and we will report as income to the tax authorities if required by applicable law. Consult your tax advisor. 

Prior to opening this account I spoke to a customer service representative at great length about the requirements of this bonus offer. She even helped me open the account. My concern was not the cumulative {$3000.00} I knew that would not be a problem as my Social Security monthly checks far exceed that amount. My concern was that I would meet the time requirement. I was assured as long as the three direct deposits were made within the 150 days, I would meet the requirements. I moved heaven and earth to get Social Security to ensure transfer of my deposits would meet the requirements. They did with days to spare. I initially thought they were questioning the number of days - certainly NOT the amount of money to be deposited ( which is the 'bait and switch ' and fraud piece of this complaint ) - until I got to the bank. 

XX/XX/XXXX daysXX/XX/XXXX days XX/XX/XXXX days XX/XX/XXXX daysXX/XX/XXXX days XX/XX/XXXX days Total Days = 137 I contacted Wells Fargo and asked when I could expect to receive the {$400.00} bonus as I had met all the requirements. I received an email back stating I had not met the cumulative total of {$3000.00} each month for three consecutive months. Clearly that is not the bonus offer for which I signed up. After explaining this bait and switch offer I was told to go to a branch. Great customer service. I did go to the branch, emails in hand, and was passed off by the manager to a representative that had only been there for two months ( which she repeated over and over ) who could barely speak English and listened only to what the promotions manager told her. The same as the email from the bank below. That may be the offer NOW, but it was not the offer in XXXX. This is fraud. Something Wells Fargo is well known for. 

Email from Wells Fargo : Subject : Re : Account questions or requests ( XXXX ) From : Customer Service XX/XX/2019 XXXX XX/XX/XXXX Contact Us Dear XXXX XXXX : Thank you for contacting Wells Fargo. My name is XXXX, and I appreciate the opportunity to respond to your email. 
I received your email about the {$400.00} promotion. 
A credit for the promotion wasn't issued because the requirements of the campaign weren't met. 
A cumulative {$3000.00} in total direct deposits each month for three consecutive months was not maintained. 
Here are the requirements that needed to be met to receive the promotional credit : Within 150 days of account opening, the customer must receive a cumulative monthly total of {$3000.00} or more each month in qualifying direct deposits to the checking account opened for this bonus offer for three consecutive months. ( This was NOT the offer when I opened the account ) During this time, the new account balance must be {$1.00} or more. 
If we can be of further assistance, please visit a branch. 

Thank you. We appreciate your business. 

Sincerely, XXXX XXXX. 
Wells Fargo As stated above the branch was no help at all. They just parroted the current offer and made NO attempt to investigate the offer that was made in XXXX.

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