Consumer complaint received 2024-03-12 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Funds not received from closed account
Company: WELLS FARGO & COMPANY
State: OR

Complaint narrative:
I am writing to you to express my utter dismay for the manner in which my XXXX XXXX checking account was closed and the lack of concern shown to a WF ( XXXX ) XXXX, 48 year account holder and high value customer. 

Some personal background info : XXXX XXXX XXXX  Wells Fargo in XXXX, shortly after the merger with XXXX. 
I began my career as a XXXX XXXX XXXXXXXX and retired as a XXXX XXXX XXXX. My husband XXXX and I liveaboard our boat based in XXXX and spend winters traveling and on the Oregon XXXX. We maintain a XXXX in XXXX, so that mail can be forwarded to wherever we are. 

In XXXX we received a letter from Wells Fargo indicating all of our accounts were required to have a physical address. I complied with the request and, with assistance from the XXXX #, updated all accounts with the location and name of our boat in XXXX XXXX, XXXX. In XXXX, I again verified all accounts had this info. 

On XX/XX/XXXX we received a letter from WF, dated XX/XX/XXXX, stating the our checking account would be closed on XX/XX/XXXX and a cashier 's check sent for the balance. This decision was final and offered us no recourse. 

We were totally unaware there was an issue with our accounts. There were no online alerts, no texts, no emails or phone calls. No outreach to us by WF at all. On XX/XX/XXXX we had been into a WF branch in XXXX XXXX, Oregon. At her own discretion, the teller processing our withdrawal took the time to review our accounts to make sure everything was OK and up to date. She told us it all looked fine. 

On Sunday, XX/XX/XXXX on an immediate call to WF customer service I was told I needed to call back on Monday and speak with the XXXX department. I was assured the checking account did indeed have a physical address. 

On XX/XX/XXXX numerous calls and subsequent complaints filed by both my husband and me, did not prevent the closure. In the midst of these calls, we received a text message at XXXX XXXX indicating our balance was {$0.00}. We spent hours on the phone trying to get answers on how this could have happened. Needless to say, the responses we received were as varied as the number of calls made. 

The final answer is the root cause of this situation is that we were unaware, nor was it ever explained, that XXXX has a separate customer profile that also needed a physical address. 

The resulting turmoil this account closure has caused us is significant. We were told the checking account could not be reopened. We had checks inflight, many automatic deposits and withdrawals and no ready cash. Government transactions, Social Security deposits and XXXX payments, will take 2 months to resolve. The cashier 's check for {$10000.00} was sent to XXXX and has yet to reach us. So, we cashed some XXXX XXXX XXXX and opened another checking account ( which no one has been able to label as a XXXX XXXX XXXX  ) with WF to handle the fallout. But, we are not committed to maintain a relationship with Wells Fargo. I am unsure what can be done at this point to change our minds. 



We are left with the belief that no one really cares about the treatment we received. Someone, somewhere did his/her job and checked us off a list. This culture of compartmentalization in the big corporation does nothing to promote customer trust and loyalty. 

I am sure we are not the only Alaska customers affected by this regulatory compliance issue. However, I am speaking for myself when I say, This really sucks! After so many years of being proud of my XXXXWF affiliation, I am now just another dissatisfied customer. 

I hope as an Alaskan and XXXX XXXXXXXX you can effect a change that results in a new approach to customer interaction in such circumstances. 

Please let us know your thoughts on this. 

Thank you, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. # XXXX XXXX, AK XXXX

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