Consumer complaint received 2024-07-31 00:00:00
Product: Checking or savings account — Other banking product or service
Issue: Opening an account — Account opened without my consent or knowledge
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
My name is XXXX XXXX. I am one of XXXX XXXX customers of Wells Fargo Bank who were defrauded by the banks many lawless activities. 

In my case, Wells Fargo Bank set up, what the bank called a Preferred Product account in my name, without my knowledge or consent and proceeded to charge me fees for this unauthorized account from XX/XX/XXXX, to XX/XX/XXXX. 

In XX/XX/XXXX, I received a letter from Wells Fargo Bank requesting that I contact them regarding the unauthorized account, which I did, and I was told that they would do a thorough review and contact me later. 

On XX/XX/XXXX, the bank sent another letter requesting that I contact them within 60 days of receiving the XXXX letter, which I did again. ( see attached letters ). 

I was informed that Wells Fargo would be issuing a check for {$920.00}, along with a XXXX XXXX XXXX and, an explanation of the Mediation Request Form process within 45 days. 

On XX/XX/XXXX, I was sent a follow-up letter that stated that I was eligible for compensation. As a result, the bank enclosed a check for {$920.00} with an apology for any inconvenience that the unauthorized account XXXX have caused. 

I called Wells Fargo Bank to let them know that if I am NOT satisfied with the {$920.00}, I will file the Mediation Request Form and submit it to the bank. 

I was told that the check was just a courtesy and I could still file the Mediation Request Form. 

However, the XXXX letter uses the word compensation which I know is defined in the dictionary as a payment to the injured party for the harm suffered. 

I called Wells Fargo Bank on three occasions to get clarification, but the representative ( s ) responses were confusing and contradictory with different explanations each time. 

When I called the telephone number in the letter, an auto voice came on the line saying This call XXXX be recorded. 

For my final call to the bank, a representative by the name of XXXX answered when I asked if I could record the call, XXXX became hostile and combative by saying he does not give his permission to be recorded which is strange since they can record me but I can not record them. 

I merely wanted to get verified clarity. 

In any event, XXXX would not give me his last name. After my insistence, XXXX finally gave me reference # XXXX for him. 

XXXX said that the {$920.00} check was money that the bank gave me so I could use the funds any way that I liked and that the {$920.00} had NOTHING to do with being able to file a Mediation Request Form. 

Perhaps, I have answered my question regarding the word compensation in the XXXX letter. However, when Wells Fargo Bank representatives keep telling me that it doesnt mean I can not still file the Mediation Request Form, I need to get a firm answer to the compensation question. 

In any case, I will not cash the {$920.00} check until and unless I get clarification from the bank that it is not a way to pay off customers for their fraudulent activities. 

Considering Wells Fargo Banks past conduct, I am not positive I can believe the banks representatives. 


( 1 )

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