Consumer complaint received 2025-07-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Cashing a check
Company: WELLS FARGO & COMPANY
State: VA

Complaint narrative:
I had a transaction with Wells Fargo recently that I need further investigation and legal/proper explanation. I believe they invested my money while it was being held from me.

I wrote three ( 3 ) checks from my XXXX XXXX XXXX XXXX checking account to my Wells Fargo 's checking account. 
The checks were written in my name ( self ) because I was withdrawing from my XXXX XXXX XXXX into my Wells Fargo. 
Wells Fargo simply held the money for 10 days, claiming there was a " suspicious activity '' in my account. 
When I challenged them inquiring what suspicion exactly, they had no answers whatesoever. They kept saying there was a " code '' and nobody and they can not give further information, Even after the case reached the top of their escalating departments [ director 's office ]. I asked to talk to someone else and they said that was the top of chain. 
I spoke with several agents over the phone ( XXXX XXXX XXXX XXXX and Wells Fargo, back and forth - one blamed the other, but the money had already being withdrawn from the Credit Union and it was in Wells Fargo 's hands. Three days ( 3 ) after depositing, I did not see the money credited into my Wells Fargo account and started calling around. Each call would take 30-40+ min. and no one was clear about anything. They just told me to wait until the [ my! ] money cleared.

They gave me wrong information. Three managers/supervisors called me ( I have their names and dates for each conversation ) - again, wrong info and
they just passed the buck around.

I also have names of people I spoke with and I hope the conversations were recorded by Wells Fargo.

I also went to one of their branches in person. Spoke with the banker who said his manager was going to take a look at it and I would get a phone call. Never, ever heard back from them!

P.S. : I had done similar transactions several times in the past, but this time they held my money with no substantial or clear explanation. 
The reason I wrote three checks is because I used mobile-deposit and they have a limit of {$5000.00} per day.

I was counting on that money, and asked for compensation for the delay. Wells Fargo kept saying they did not do anything " illegal '' and that they have the rights to hold funds, by law! Hmm, for 10 days?? I know checks may take 1-3 days to be fully deposited from one institution to another, but not more than that. 
I asked Wells Fargo director 's office to provide me with written clause/rule that they can simply hold on to customer 's check for that long period of time- they said it is not specified in their rules the amount of days. They said " as long as it takes for them to investigate! '' I can provide you with more info and documents when necessary. 
Thank you for your attention and please let me know if I need to contact another department. 
P.S. : I was not even able to access the initial {$400.00} ( per transaction ) that is normally deposited right away into the account.

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