Consumer complaint received 2023-05-01
Product: Checking or savings account — Checking account
Issue: Managing an account — Problem using a debit or ATM card
Company: WELLS FARGO & COMPANY (NY)

The incident in question affected twelve families, eleven of which have already received full resolution from their financial institution. I attach this letter below only because it is the same letter the other eleven families used and I feel that it likely describes the situation better than I can.

After the end of the letter, I will also provide a summary of relevant dates. I attach to this request eleven examples of the fraud that was perpetrated.

Exhibit 1 : LETTER EXPLAINING THE SITUATION ( as sent to Wells ) To whom it may concern, The below letter and attachments reference Case # : XXXX. I attach this information in hopes you can help me resolve a fraud situation. Your help would be greatly appreciated. 

Specifically, we incurred a ( initial ) loss of {$10000.00} in XXXX, due to fraud that was committed by the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  '' ) and its head XXXX XXXX. About a dozen other parents in the same situation as us were reimbursed by their banking institution, so I am hoping that Wells Fargo will be able to do the same.. 

Some background information : My wife and I were intending to send our daughter, XXXX, to a school in XXXX named XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX '' ) for their 3-year-old program beginning in XX/XX/XXXX. We sent deposits totalling {$10000.00} from our Wells Fargo checking account via ACH. ( {$6700.00} on XX/XX/XXXX and {$3300.00} on XX/XX/XXXX ). 

In XXXX of XXXX, an online article reported that The School was behind on its rent. ( XXXX XXXX XXXX XXXX XXXX in XXXX XXXX - XXXX ) The School repeatedly communicated to the parents ( via XXXX meetings, emails, etc ) that while there was a dispute between itself and its landlord, it was confident the issue would eventually be resolved and that the XXXX school year would not be affected. In doing so, The School fraudulently conveyed itself as solvent and capable of operating, when in reality it was already facing eviction and default. Our payment in XX/XX/XXXX was sent based on these fraudlent assurances On XX/XX/XXXX, The School board informed parents via email that the school was not able to resolve issues with its landlord and as such, the XXXX school year would be canceled. The same communication offered up the possibility of recouping some of our deposits, but no such reimbursements have been made. 

My wife and I sent over tuition deposit payments believing that the school had every intention of opening in XX/XX/XXXX. Had the school properly disclosed and informed us of its true state of its finances, we would not have proceeded with making deposit payments. The school made false and misleading statements to us and to other parents in order to fraudulently solicit tuition payments from us. At the time of these statements, administrators already knew that there was a high likelihood that the school would not be able to open for the XXXX academic year. The school 's XXXX page was actively recruiting students as late as XX/XX/XXXX. 

I've attached supporting correspondence from The School. I would welcome the chance to speak live via telephone to discuss further. Thank you in advance for your assistance. 

Thank you, XXXX XXXX XXXX Exhibit 2 : RELEVANT DATES Pre XX/XX/XXXX, all relevant dates are summarized in the email above XX/XX/XXXX. My wife calls Wells and opens a XXXX # : XXXX. 

XX/XX/XXXX. My wife calls Wells help line approximately twenty five times. They are unable to provide updates of any sort. 

XX/XX/XXXX. My wife finally is able to connect with a claims representative, who explains that because this was an ACH transaction, Wells Fargo does not reimburse for fraud ( this turned out to be a lie, as every other financial institution faced with the same fact pattern has paid in full ). At this point, we simply gave up. 

XXXX of XXXX. I am having lunch with another father that was affected by this situation. He tells me that every single other family has already received payment from their financial services institution. I begin trying to contact Wells again, thinking that if I simply use the same materials that the other eleven families have used with their financial institutions, that we can arrive at a reasonable outcome. 

XX/XX/XXXX. I call Wells Fargo help line ten separate times. I am told first that too much time has passed since the original claim ( this was false ), second that Wells is unable to receive supporting information in electronic form ( this was false ), third that I would receive a call back from a case worker by XX/XX/XXXX at XXXX ( this was false ), and fourth that I could call a help line any time and receive an update on my file ( this was false, every time I have called the help line I have been transferred several times only to be told there is no open case, at which point, if I persist, I can generally get to a department that at least acknowledges this case exists ). 


My wife spent probably fifty hours trying to get Wells to review this case. I have now spent around thirty. They are impossible to reach by ordinary means and I believe have set up their help system in a manner that is difficult to use to demoralize potential claimants.