Consumer complaint received 2025-02-22 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
Dear, This letter serves as a formal complaint regarding two wire transfers initiated from my business account with Wells Fargo, which were sent to an incorrect account number due to a typographical error on my part. Despite my immediate notification and cooperation with Wells Fargo, the issue remains unresolved, and I have suffered significant financial loss. 

On XX/XX/XXXX, I initiated a wire transfer for {$1500.00}. On XX/XX/XXXX, I initiated a second wire transfer for {$4000.00}. Both transfers were intended for a contract driver as payment for services rendered. Due to an error in the account number I provided, these funds were sent to the wrong recipient. 

Upon discovering the error, I immediately contacted Wells Fargo to report the issue and request assistance in recovering the funds. I was assigned case number XXXX. I was assured that Wells Fargo would contact the recipient 's bank, XXXX XXXX, to investigate and facilitate the return of the funds. 

Despite numerous follow-up calls and inquiries, Wells Fargo has provided inconsistent and unsatisfactory responses. I was initially informed that the recipient was unwilling to return the funds. Subsequently, I was told that the funds were held at XXXX XXXX  due to a lack of recipient verification. 

On XX/XX/XXXX, during a call with the Wells Fargo Wire Transfer department, I provided the correct account number, social security number, and complete address of the intended recipient. I was assured that this information would facilitate the release of the funds. However, I have since been informed that XXXX XXXX  is not responding to Wells Fargo 's requests. 

I have made repeated attempts to resolve this issue, but I continue to receive conflicting information and no concrete solutions. I have been repeatedly directed to contact XXXX XXXX, which I can not do as I am not a customer. Furthermore, XXXX XXXX  has confirmed that the incorrect account number does not match any existing account, further complicating the matter. 

The timeline of this issue is as follows : XX/XX/XXXX : A {$1500.00} wire transfer was initiated. 
XX/XX/XXXX : A {$4000.00} wire transfer was initiated. 
XX/XX/XXXX : Error discovered and reported to Wells Fargo. Case # XXXX opened. 
Various dates between XX/XX/XXXX and XX/XX/XXXX : Numerous follow-up calls and inquiries with Wells Fargo XXXX 
XX/XX/XXXX : Provided correct recipient information to Wells Fargo. 
Current Date : The issue remains unresolved. 
I am extremely dissatisfied with the handling of this matter. Wells Fargo 's failure to effectively communicate with XXXX XXXX  and resolve this issue has resulted in significant financial loss for my business. I request the following : An immediate and thorough investigation into the location of the misdirected funds. 
Direct and effective communication with XXXX XXXX  to facilitate the return of the funds. 
A clear and consistent explanation of the steps being taken to resolve this issue. 
The return of the full {$5500.00} that was sent in error. 
I expect a prompt and satisfactory resolution to this matter. Please acknowledge receipt of this complaint and provide a timeline for resolution. 

Sincerely, XXXX XXXX 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 explanation