Consumer complaint received 2024-08-24 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: SC

Complaint narrative:
In early XX/XX/year>, I received a promotional mailer from Wells Fargo Bank ( see attached ). It promoted that we would receive a {$2500.00} bonus if we open a Premier Banking account and held a balance of {$250000.00} or more for 90 days in a linked account. 

I went into the local WF Bank Branch as promoted and spoke with a Premier Banker. Over the course of two days and two long hours at his desk, I/we opened a premier banking relationship and account. The banker was not aware of the WF promotion but with the mailer and the promo code he entered the code into the system in setting up the relationship. I transferred funds from another bank to meet the requirement of the promotion. I did that on XX/XX/XXXX and that can be seen and validated in the account. The premier banker handled all of this while I was sitting there. I asked if I could maintain that balance in the Platinum Savings that is linked to the Premier Checking. He looked into it and said that I could so I transferred the balance to our linked account. 

Now, 99 days later, well past the 90 day mark, WF is saying that the Platinum Savings account was not linked to the promotional offer, only the checking account. That is not clear in the promotion at all. Further the Premier Banker did not specify that and said that it was ok to hold in the linked Platinum Savings account. He even called his hot line and other bankers in the branch to help him with entering this promotion successfully in the WF system. 

I relied upon all these matters done in the local branch per the promo, with a Premier Banker. I did what I thought the promo specified as conditions of the offer. After the fact, WF is saying that I and the branch bankers misunderstood what a linked account was and that the balance needed to be held in the checking account, not the linked savings account. I have had two different bankers look this over and also the WF Customer Advocacy team. After considerable consultation internally, they determined that the promo offer was intended only for checking and not checking and savings which are under the same WF relationship and linked. 

If professional bankers at WF took hours to figure this out AFTER the promotional 90 day period was up and I had done all that I understood from them was required, how could the average banking consumer understand the requirements. I am a pretty savvy financial person and I took the WF promotional offer at its word. I think that the marketing by WF is deceptive, almost a bait and switch. I have worked at two different branches and called their customer service line to resolve and so far no resolution. They are indicating that they will still look into it and I have a CS reference number from them but they are leaning toward the fact that it was not set up properly by WF at the beginning with it in checking only and thus I am not eligible for the {$2500.00} bonus.

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