Consumer complaint received 2025-04-11 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: WELLS FARGO & COMPANY
State: IA

Complaint narrative:
XX/XX/year> at XXXX I received a call from Wells Fargo Fraud Dept . They were calling because they saw suspicious activity on my husband and Is checking account. It was pay day, they had our checking account pulled up and read off the amount of her pay check that came in that day, they verifies a purchase I made the day before, and then they said they see XXXX XXXX setup XXXX XXXX  through our checking account and there is a {$15000.00} payout that XXXX XXXX was making on your account. I knew the balance for {$14000.00}. I am panicking. I tell them we did not authorize XXXX XXXX to make this withdrawal. He proceeds to tell me Wells Fargo had a security breach, leaked our personal information, that he was opening a federal case up, Wells Fargo is compromised and he would further assist me in securing our account. He told me to go to Wells Fargo, to withdraw our {$14000.00}. He had a secure bank account that he had me put it in at the ATM. He gave me the # of the new account and said we was over knighting my new secure checking account info to me. I did what he said. I sent into the bank. Withdrew {$14000.00}. The teller did not ask me a question. Then while I still had the guy on the phone, I deposited all the money in the ATM into the secure account that Wells Fargo was setting up for me. 

This entire time, I had texted my husband what was going on, for the most part. When I got off the phone with Wells Fargo Fraud Dept, I called my husband who is panicking and said, I am on my way to the bank right now. When he got to the bank, Wells Fargo said the Fraud Dept had not contacted me, there was no secure account. It was all a lie. He told them exactly what happened and said he disputes the transactions, tells them our money went to a fraudulent place, to put a hold on the transaction and investigate to get our funds back. Wells Fargo had my husband call to report this. Wells Fargo took all the details down and my husbands statement. My husband was at the bank within XXXX hr of the incident. The teller told my husband that she thought it was weird what I was doing but didnt ask any questions. Wells Fargo acted like they were opening a case to further investigate, and they were going to get back to us. 

We called them back that night, and every day of the next week asking for the status of the case. Come to find out they did not put a hold on the transaction. They said they did not investigate where it fraudulently went. They did not give us our money back. I filed a complaint with the bank. I got a call from the Complaint Dept and they said they stand on what they did and we were not getting our money back. They do not have an appeal process. The only thing left I could do was speak to the Complaint Dept Supervisor who told me the same thing, that they stand on the decision they made. They had no intention to put a hold on the transaction. They had no intention on investigating the scam that happened and who had our money fraudulently.

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