Consumer complaint received 2026-01-07 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Funds not received from closed account
Company: WELLS FARGO & COMPANY
State: SC

Complaint narrative:
I am submitting this complaint regarding Wells Fargos handling of my matured Certificate of Deposit ( CD ) / Time Account, including the failure to properly record my closure election, inconsistent explanations regarding business days, and the resulting customer harm. I am an elderly customer in my mid-80s, and this process failure should not be occurring.

IDENTIFYING INFORMATION ( masked for privacy ; available upon request ) Account holder : XXXX XXXX Time Account ( CD ) ending : XXXX Destination account ( XXXX ) ending : XXXX Wells Fargo reference number : XXXX SUMMARY OF ISSUE I made a clear and timely election to close my matured CD and transfer the funds to another Wells Fargo account. Despite multiple calls, escalation attempts, and confirmations, Wells Fargo representatives repeatedly stated that no election had been made. On XX/XX/year>, I was also given an incorrect explanation of business days, being told that Monday did not count toward the stated XXXX business hours, which contradicts federal banking definitions and Wells Fargos own policies. 

CHRONOLOGICAL TIMELINE ( CALL-LOG VERIFIABLE ) XX/XX/year> XXXX XXXX  I called Wells Fargo XXXX XXXX. 

Time on call : XXXX minutes, XXXX seconds. 

I explicitly instructed the representative to : Close my Time Account ( CD ) ending in XXXX, and Transfer the full balance to my XXXX account ending in XXXX. 

I was informed the process would take up to 48 business hours. 

Representative name not recalled. 

XX/XX/year> XXXX XXXX  I spoke with XXXX XXXX XXXX female ), General Customer Service XXXX after seeing online messaging indicating no election had been made. 

XXXX XXXX  I was transferred to XXXX ( female ), Escalation Department XXXX 

XXXX stated Escalation does not normally handle Time Account matters and attempted to reach another department ( XXXX XXXX  ). 

Call ended XXXX XXXX. 

XXXX stated funds should be available on XX/XX/XXXX or XX/XX/year>. 
I stated clearly that XX/XX/XXXX would exceed the XXXX business hours described on XX/XX/XXXX. 

XX/XX/year> I spoke with XXXX and was provided reference number XXXX. 

XXXX XXXX  XXXX XXXX me to another female representative. 

After being placed on hold, that representative stated : Monday did not count as part of the XXXX business hours, Because nothing was processed until close of business Monday, and Therefore Monday was not included in the XXXX calculation. 

I was informed that the funds would be available on XX/XX/year>. 

This was the last interaction of the day and is the explanation I am formally disputing. 

CUSTOMER-FACING SYSTEM INDICATOR When logging into my Wells Fargo account XXXX I observed the message : Your CD has matured! You have until XX/XX/year> to make changes. 

This message indicates the system believed no election had been made, despite my XX/XX/XXXX instruction. 

BUSINESS-DAY MISREPRESENTATION I was told that Monday did not count as a business day for the 48 business hours timeline. This statement is incorrect. 

Under federal banking regulations and Wells Fargos own published definitions : A business day is any day other than Saturday, Sunday, or a federal banking holiday. 

Monday is a business day unless it is a federal holiday. 

A transaction entered or queued on a weekend is processed starting the next business day, and that day does count. 

There is no federal regulation or Wells Fargo policy that allows Monday to be excluded from a business-day calculation simply because processing occurred at the end of the day. 

ADDITIONAL CONCERN ELDERLY CUSTOMER IMPACT This is not the first time I have experienced issues with Wells Fargo CDs. As an elderly customer in my mid-80s, I should not be required to : Make repeated phone calls, Re-explain the same issue to multiple representatives, Receive contradictory explanations, or Monitor whether the bank properly recorded a basic instruction. 

This process failure creates unnecessary stress and risk for elderly customers and should be addressed at a senior level.

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