Consumer complaint received 2019-07-22 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Wrong amount charged or received — 
Company: WELLS FARGO & COMPANY
State: AZ

Complaint narrative:
Called Wells Fargo ( WF ) in XXXX to do a rollover of my XXXX into XXXX XXXX as I have a new employer. Received check a few weeks later, and sent into XXXX. No issues. 

Logged back into my WF account mid XXXX, and realized there will still funds in my XXXX after I had done a full rollover. Called WF, spoke to a helpful person who explained : 1. I had gotten a dividend, and would still be receiving another company match first thing in XXXX, and that I needed to wait, and call in after the first week of XXXX where I would then do a final rollover request and get one more check for XXXX, before XXXX out the account. I asked if there would be tax implications, and was told here would not be. I set a calendar reminder to call WF on XX/XX/XXXX. 

I received a check on or about 7/8 for the reminder of my XXXX less taxes ( {$190.00} ) in a form of a check made out to me individually. I immediately called WF and was told there was nothing they could do about it, it was policy to send a check to the individual if it was less than a certain amount. I explained what I was told by the representative in XXXX. They said they would investigate my complaint and call me back within few weeks. MY complaint was that I had been explicitly told to do something, and before I was able to do it on the date I was told to do it on, XXXX took out {$190.00} in taxes which I should not have to pay because I intend to roll this money into a XXXX. 

Received a call back on XX/XX/XXXX from WF rep. He stated he listed to my recorded call and the woman did tell me to call back and request a rollover, but my money was immediately sent out instead of being held in the account so I could ask for the rollover. I asked how I could get the {$190.00} refunded and the check reissued to XXXX for the rollover. Was told there is nothing they can do about it. Also suggested to open an IRA to get around tax penalty. Asked if WF would pay for IRA opening and account fees, as I do not have and IRA, I have a XXXX only. They said they could not. 

I was told I have to write to the plan administrator, who would not be able to help me as they sent a disclosure which said any funds left in the account will be sent to individual and not done in a rollover. I explained that is not what happened, I was told to do this by the representative after receiving those disclosures. I was told to do something different than the policy from a person working there who said it would be okay, and I will still penalized the {$190.00}. 

I am asking for CFPB to intervene, and have WF reimburse me the {$190.00} as they provided incorrect information which led to a tax penalty which is avoidable were it not for their providing inaccurate information when I called in XXXX and early XXXX to resolve this issue.

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