Consumer complaint received 2020-09-05
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: WELLS FARGO & COMPANY (CA)

Complaint:
On XX/XX/2020, I received a Treasury Dept Stimulus check. My account was at that time overdrafted in the amount of {$280.00}. The date of the {$1700.00} stimulus check was XX/XX/XXXX. This is on my bank statement, on XX/XX/XXXX, my statement says, " Temporary credit of Accounts Negative Balance as of the DAY PRIOR to deposit of a stimulus payment ''. The amount of {$390.00} was deposited into my account, the day after I received the stimulus payment, on XX/XX/XXXX, my paycheck went into this account of {$570.00}. I was not informed about Wells Fargo giving me this credit at all. I did not ask for this credit, I signed nothing pertaining to this credit. So on XX/XX/XXXX, they took back their {$390.00}, which was fine. Fast forward to XX/XX/XXXX I received from the IRS an amended tax refund check in the amount of {$660.00}. This was a paper check sent to me by the IRS, it was not direct deposited. Also, on XX/XX/XXXX my paycheck went into the bank in the amount of {$620.00}. XX/XX/XXXX I received electronically a child support payment of {$360.00}. On XX/XX/XXXX, again I see Temporary credit of accounts Negative balance as of the DAY PRIOR to the deposit of a stimulus check. I did NOT receive another stimulus check at all. It was a income tax refund check. Again, I was NOT informed about giving me a loan in the amount of {$600.00}. I did not ask for a loan, nor did I agree to any loan, this was NOT a stimulus check, so they should not have given me any money. I signed nothing in fact I was not aware of any of this at the time. XX/XX/2020 Wells Fargo withdrew {$600.00}, which took my entire paycheck on XX/XX/XXXX. I contacted them as soon as I saw again they had over drafted my account by {$400.00}, which left me with NO MONEY to pay my bills or buy groceries with. I contacted them at XXXX on Saturday XX/XX/XXXX to remedy this situation. NO ONE could explain why this happened I was on the phone until XXXX, and they admitted they had no idea why this happened but refused to give the money back to me. I did not sign any loan papers, nor did I authorize any " loan '' to bring my account current. I was not over drafted until they chose without warning to take money out for a loan I was not aware of, they did not contact me to make payment arrangements or anything, I was not aware of this loan because I should not have gotten it, due to I did not receive another stimulus check, it was a paper check from the IRS for an amended tax return. How can they get by with just playing with a customers account with no notice, they put money in when they want without knowledge and then two months later, take money out without any notice. Wells Fargo has yet to remedy this issue. How many other people did this happen to. I did not mind the first one in XXXX, but they say well the computer " thought '' it was a stimulus check. That is NOT my fault, I had no idea you were going to deposit {$600.00} into my account, let alone expect me to pay that amount back in one lump sum. I would have made payment arrangements had I known. So now it is XXXX XXXX weekend, I am stuck at home, due to covid, I am XXXX years old and have no money for three days to eat on or to pay my utility or car payment, I live on a budget. Had I known I would have budgeted in the loan amount. This is highly suspicious and borderline fraud. Please help me to get my money back from them, had they advised me, I would have told them NO, I do not need that {$600.00}. Thank you for anything you can do. This needs to stop with greedy banking practices.

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 explanation