Consumer complaint received 2026-02-24 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Can't close your account
Company: WELLS FARGO & COMPANY
State: AZ

Complaint narrative:
I am submitting this complaint regarding Wells Fargo Bank for the prolonged restriction and closure of my account and the continued withholding of my funds without a dispute or resolution. On XX/XX/year>, I deposited a {$60000.00} cashiers check into my Wells Fargo account. The funds were a settlement payment for services and business arrangements that been had provided. Within two business days, the deposit cleared and the funds became available in my account. After the funds cleared, I used part of the money for normal and legitimate purposes, including transferring a portion into my business account. On XX/XX/year>, I received an email notification from Wells Fargo informing me that my account was under review and scheduled for closure. The notice stated that Wells Fargo periodically reviews customer accounts and had made a business decision to close my account. The initial closure date was set for XX/XX/year>, with language indicating the account could be closed earlier or the closure date could be delayed under certain circumstances. I complied and waited for the stated closure date so that the account could be finalized and any remaining funds mailed to me. However, prior to the XX/XX/XXXX closure date, I received another notification from Wells Fargo stating that the closure date had been extended to XX/XX/year>. No clear justification was provided. When I contacted Wells Fargo for clarification, I was told the extension was due to Wells Fargo awaiting information from involved parties. Upon further inquiry, I was informed that the involved party referenced was XXXX XXXX, the issuing bank of the cashiers check deposited on XX/XX/year>. Wells Fargo stated there was a potential fraud flag from XXXX XXXX and that Wells Fargo was waiting for confirmation before proceeding with final account closure. I would like to emphasize the following facts : There is no dispute on this transaction. The sender of the cashiers check has confirmed that no dispute was filed and no recall was requested. The payment was authorized and made for a legitimate settlement. The issue is not a dispute, but only a potential fraud flag, which remains unresolved due to the issuing banks internal review. Despite this, Wells Fargo continues to restrict my funds and extend the closure date of my account indefinitely while waiting for a third party that has failed to respond in a timely manner. I have now waited weeks beyond the original closure timeline, and I have legitimate need and use for the funds that remain inaccessible. XXXX XXXX actions have caused financial hardship and uncertainty. I believe it is unreasonable and unfair for Wells Fargo to repeatedly extend the closure date of my account and withhold my funds when there is no dispute and no claim of wrongdoing on my part. Wells Fargo has refused to resolve this matter by either completing the account closure and mailing my remaining funds or providing a definitive resolution timeline. As a result, I am trapped in an indefinite review process that I can not influence or resolve. I respectfully request that the CFPB review this matter and ensure that Wells Fargo complies with applicable banking regulations. Specifically, I ask that Wells Fargo be required to either : XXXX ) Complete the account closure and release my remaining funds, or XXXX ) Provide a clear, lawful justification and final timeline for holding my funds, rather than repeatedly extending the closure date due to third-party delays. This situation has caused significant stress and disruption, and I am requesting the CFPBs assistance to ensure this matter is handled fairly and promptly. Thank you for your time and attention.

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