Consumer complaint received 2024-02-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem with a lender or other company charging your account — Transaction was not authorized
Company: WELLS FARGO & COMPANY
State: NC

Complaint narrative:
On XX/XX/XXXX after banking hours, we learned that our company Wells Fargo accounts had been compromised and fraudulent charges had hit the account. We attempted to resolve this through online banking support with no success and myself and the other account owner ( my wife, XXXX XXXX XXXX went into the branch to have them resolve for us. 

While sitting with our banker in the branch, she could see numerous charges coming through from in-person bank withdrawals to e-transfers to other ATM withdrawals and XXXX large wire transfer occurring all over the country. At the time these were occurring, we were sitting face-to-face with the banker in XXXX, NC. The banker immediately filed fraud claims for us on all deposits but we were advised that we " needed to let the charges settle to the account before she could complete the claim process ''. The largest of these charges was a {$23000.00} wire transfer which Wells Fargo attempted to put a stop on. The stop did not work, and they filed a fraud claim. We were later informed that the amount listed on the fraud claim was {$0.00} and therefore the claims department had nothing to take action on. The claim was later revised and resubmitted by the branch, but we were told that they could not do anything further on this. 

We did receive credits for some of the fraudulent activity. Now, XXXX of those credits has been reversed without notice or without informing us of any findings on the side of Wells Fargo. We never received any credit for the {$23000.00} wire transfer. 

At the onset of these issues, we reached out to the FBI who initially followed up and were able to interview some of the branches where this fraudulent activity took place. 

On XX/XX/XXXX, having received no further updates from our local Wells Fargo branch, we escalated this matter to the XXXX XXXX  President ( Small Business & Retail ) - XXXX XXXX. While he has provided a return phone call to every email sent, we have only been told that " they are looking into how to fix this ''. 

Further, on XX/XX/24 XXXX of the previously credited fraudulent transfers ( Amount of {$4800.00} ) was reversed out of XXXX of the accounts. No information was provided as to the reason, and since it has been well established that all of the withdrawals in question took place around the country while the account owners were sitting in the branch office and it is impossible to have been a result of our own actions, we find no reason these charges should have been reversed. 

We were initially told that the institution had XXXX to issue provisional credits for any fraudulent activity. At 62 days past, we still have not received any credit for the wire transfer of {$23000.00}. We were additionally told that once a provisional credit is issued, the bank has 45 days to investigate further and make a final ruling. The provisional credit that was pulled was past the 45 day 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 explanation