Consumer complaint received 2026-04-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
This is the second unauthorized transaction on my Wells Fargo joint personal checking account in XXXX weeks. Both incidents were initiated through my joint account holders online banking login without his knowledge or authorization. On XX/XX/year>, an unauthorized transfer was made from my business checking account ( where my joint account holder is a co-signer ) into our joint personal checking account. I reported it to Wells Fargo and filed a fraud claim ( Claim No. XXXX ). The bank denied the claim, stating it was made by someone with legitimate access. I was able to transfer the funds back myself. As remediation, Wells Fargo required me to change my account numbers and online banking credentials. The bank did not disclose to me whose login was used to initiate the XX/XX/XXXX transaction. I now believe the remediation they applied may have been irrelevant to the actual breach. On XX/XX/year>, at approximately XXXXXXXX XXXX XXXX, someone accessed the account online and changed the phone number from my legitimate number to XXXX ( Maryland area code ). This redirected verification codes and disabled text alerts. At XXXXXXXX XXXX text alerts were canceled for the new number. At XXXX XXXX, the fraudulent number was removed. Between the phone number change and its removal, an unauthorized wire transfer of {$17000.00} was initiated again through my joint account holders online login. I called Wells Fargo within XXXX minutes of receiving the phone number change notification. I was placed on hold for approximately XXXX minutes and then transferred multiple times before I was able to share critical information about the unauthorized transaction with anyone who could act on it. This wasted precious time during which the wire could potentially have been stopped. The wire was sent to XXXX XXXX at XXXX XXXX XXXX in XXXX, XXXX. Fedwire number XXXX. Confirmation number XXXX. The wire has been completed. I do not know the beneficiary. The purpose was listed as Family or friend. I visited a Wells Fargo branch in person. The following failures occurred : 1. The banks fraud department told me they could not identify the transaction type, beneficiary, or receiving bank because the transaction was pending. My joint account holder subsequently found the completed wire with full details visible in the account. The banks own system showed the transaction had already been completed while they were telling me it was pending. 2. Despite the transaction showing as pending, Wells Fargo stated they could not stop or cancel it. 3. I received contradictory explanations for how the unauthorized activity occurred. XXXX fraud representatives stated the wire was not done online. A branch representative stated the phone number change was done online. A fraud supervisor then stated it may have been done over the phone. Wells Fargo ultimately confirmed the wire was initiated online through my joint account holders login. 4. The call with the fraud supervisor was disconnected before my questions could be answered. 5. The fraud investigator focused on questions about my account access rather than on stopping the unauthorized transaction. 6. When Wells Fargo denied my XX/XX/XXXX claim citing legitimate access, they did not explain whose access they were referring to or disclose which login was used. Had they provided this information, I could have taken steps to secure the compromised credentials and the XX/XX/XXXX wire may not have occurred. I have filed XXXX reports with the FBIs IC3 including the Fedwire number. I have also notified XXXX XXXX XXXX fraud department. My concerns are : ( 1 ) Wells Fargo denied my first claim without providing enough information for me to understand and address the actual vulnerability ; ( 2 ) the banks remediation after the first incident did not address the actual compromised credentials ; ( 3 ) the bank allowed the account phone number to be changed without adequate verification ; ( 4 ) the bank told me the transaction was pending and unidentifiable when it had already been completed with full details in their system ; ( 5 ) the bank could not stop a transaction they claimed had not yet settled ; and ( 6 ) when I called within minutes of the unauthorized activity, hold times and repeated transfers delayed the banks response during a critical window.

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 monetary relief