Consumer complaint received 2022-04-01
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY (GA)

I have been banking with XXXX  ( XXXX XXXX  ) for years - I own my own business - I applied for and was approved for an XXXX loan thru SBA- They informed me that XXXX  was not an acceptable bank and I would have to open a new account somewhere- I opened a personal checking account with Wells Fargo- I received my debit card and went into the branch on XXXX XXXX XXXX XXXX Ga on XX/XX/XXXX to have them activate my card and I needed a Direct Deposit form to provide to SBA- I asked the gentleman assisting me " I am expecting a large deposit is there anything I need to do to prepare for that coming in '' he said NO! On XX/XX/XXXX I went back to the same branch and made a withdrawl from my account {$120.00} and decided to ask again - I spoke with a lady and I said I have a large deposit of XXXX being deposited into my account is there anything I need to do like make a note on my account - she too told me NO!! ( neither of these associates stated I could not use the account I had for this transaction ) - on XX/XX/XXXX my deposit came in - as they stated there was no issues and the funds were in the account and available - UNTIL 9 days later - I get an email stating - " We're letting you know a transaction appearing on your account WELLS FARGO CLEAR ACCESS BANKING may not be authorized. We've restricted the transaction amount below while we investigate, to help keep your online account protected '' and they listed a phone number to call - I then received another email stating " Wells Fargo performs ongoing reviews of its account relationships in connection with the Banks responsibilities to manage risks in its banking operations. We recently reviewed your account relationship and, as a result of this review, we will be closing your above referenced accounts because we have made a business decision to end your deposit account relationship with Wells Fargo. The accounts are expected to close by XX/XX/XXXX '' - I called the number and spoke with someone who instructed me to bring in Proof of my business - I decided to go to an alternate branch then XXXX XXXX- I provided my XXXX number for my business, my State Registration for my business, my Duns number for my business and my FILED tax transcripts for my business - the bank manager faxed the documents to the risk dept who stated they would not review the information until Monday- They also stated that they would still close my account on XX/XX/XXXX and a cashiers check would be mailed for any available funds of mine that are due. I asked them to close the account now ( today XX/XX/XXXX ) and give me a cashiers check and they told me they could not do that - the bank supervisor escalated it to the centralized intake executive office who took a report and then also told the bank manager to call the risk dept and ask to speak to a supervisor - we spoke to a supervisor named XXXX who told me she sees the notes but does not know why I was told to bring documents that they do not accept documents for this and basically I was lied to that they have no intentions of looking at my documents as proof that I own this business and gave me an option of signing a debit release to release the funds back to SBA or call back on XX/XX/XXXX when they close the account to find out if they will send me a cashiers check or not- I should not be forced to get a business account when I am sole proprietor of my own business - all while I am still accruing interest on my loan but dont have access to my funds-