Consumer complaint received 2025-03-17 00:00:00
Product: Checking or savings account — Savings account
Issue: Closing an account — Company closed your account
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
I am writing to formally request the reopening of my savings account, which was recently closed on XX/XX/XXXX. I believe this action was taken based on a misunderstanding related to an address update and was not in alignment with good faith business practices. I would like to provide further details and clarify the situation to help resolve this matter. 

In early XXXX, I updated my address. Initially, I entered an incorrect unit number, which I immediately corrected upon realizing the error. On XX/XX/XXXX at XXXX XXXX XXXXXXXX, I received a second notice email from Wells Fargo stating that there was inaccurate or missing information in my file and requesting verification of my address. 

On XX/XX/XXXX at XXXXXXXX XXXX XXXX, I received an email informing me that my account had been XXXX  out as of XXXXXXXX XXXX  PST on that day. This closure occurred solely as a result of Wells Fargo 's action, and not due to any lack of funds in the account. I immediately contacted Wells Fargos customer service, and at XXXX XXXX  PST, I received a confirmation email stating that my contact information had been updated for both my savings account and credit card. 

All communications with Wells Fargo regarding this issue have been recorded. I do not understand why Wells Fargo decided to close my savings account when the address update was processed without issue on my credit card account and savings account on XX/XX/XXXX. In fact, Wells Fargo has since sent checks to my updated address without any indications of concerns. 

I have attempted to address this issue with Wells Fargo ever since XX/XX/XXXX, with all attempts being directed toward resolving the situation, but to no avail. They have yet to acknowledge that my account should never have been closed. In the most recent communication from Wells Fargo, they are stating I have the option to open another account with them, which completely invalidates my request and the legitimacy of the account closure. 

Had Wells Fargo informed me on XX/XX/XXXX that the address change would not comply with federal anti-money laundering regulations or would raise security concerns, I would have immediately reverted to the original address I had on file with the bank. It is important to note that Wells Fargo is aware this address remains valid, as they issued a replacement credit card to the previous recorded address without issue. 

Given that my address change was properly updated and no fraudulent activity has occurred, I respectfully request that Wells Fargo reopen my savings account and provide clarity regarding its closure. I have been a loyal customer for over XXXX  years, maintaining both a savings account and a credit card with Wells Fargo. This closure, under these circumstances, undermines the trust and transparency that customers should expect from their bank and is both disproportionate and unfair, especially when no evidence of fraudulent activity or harm from the address change exists. I would appreciate the opportunity to resolve this matter promptly. 

I have always valued my relationship with Wells Fargo, and I trust that this matter can be rectified swiftly and fairly. Thank you for your attention to this issue, and I look forward to a prompt resolution.

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