Consumer complaint received 2024-11-26
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY (UT)

On XX/XX/year>, I received a text message on my phone asking me if I had authorized a charge to my debit card. I immediately responded with No, and received another text message that an agent would be contacting me. I received a phone call from a Wells Fargo number on my caller ID and so I answered, and they said they needed to help me so that no more charges would occur on my debit card that was now compromised. I asked for them to confirm what info they had about me and they confirmed my full name, address, last 4 of social security number. So, I followed the prompts and before I knew it, they had unauthorized electronic transfers out of my account. The amounts of the transfers were : {$17000.00}, {$45000.00}, and {$27000.00}. I had no idea what they were doing to my account. I immediately knew something was wrong in my gut, so I hung up the phone and ran to my local branch and within minutes the account was closed, and a new account was opened with all of my money in the new account. I spoke to a representative at Wells Fargo on the phone there and explained what happened. I was assured by the local branch and agent on the phone that everything would be fine and that the money was safe in the new account. My husband gets one amount once a year and this is what we live off of for the entire year. The very next day I logged onto online banking, which the bank had me reset my login info when I was there, and the next day when I logged on, the money was showing pending as leaving my account. I called Wells Fargo right then and they told me not to worry that the claim that was opened was still being worked on. I let 2 days go by and when I checked again the money was out of my new account. I called Wells Fargo again and they assured me that I would get the money back that it was just in the claims process. On XXXX XXXX XXXX, I called and got told that my claim was denied, and I would not be getting the money back. This is our living and what we live on. We do not get any more money. Why does Wells Fargo not honor the FDIC insured policy and help us get our money back? Shouldn't the bank protect their clients? Especially where it was a scam and fraud? I have banked with Wells Fargo for 35+ years, and this should be FDIC insured. This was clearly a scam and people posing as a Wells Fargo worker. They knew all of the lingo and everything they said was said to me when I went to the local branch and was talking to the agent on the phone in the lobby. This is infuriating. The bank will literally do nothing to help us resolve this issue. They said they would be sending a denial letter, but we have not received it yet. This is our living, and we work very hard at our business which hasn't been doing well at all, because of the economy. We have no idea how we are going to pay our bills now and try and have XXXX for our kids. We are devastated beyond words and don't even know what to do short of getting a lawyer that we can't afford now and trying to get our money back. Any help would be appreciated. This has made me not trust anyone at all and not believe anything or anyone. We are hardworking people that believe that working hard is how you make a living not scamming other people out of their hard-earned money. Wells Fargo knows there are scams and fraud and should have better practices in place to protect their clients. We are devastated and it is making both my husband and me physically and emotionally sick.