Consumer complaint received 2016-09-29 00:00:00
Product: Money transfers — Domestic (US) money transfer
Issue: Other transaction issues — 
Company: WELLS FARGO & COMPANY
State: OR

Complaint narrative:
I signed up for Wells Fargo " SUREPAY '' service on XXXX/XXXX/16 and initiated payment to someone who also banks with Wells Fargo, figuring this would be the easiest way to transfer money between us. I initiated the transfer, and the money was debited from my account. On XX/XX/XXXX, I learned from the recipient that I had misspelled her email address and the money never reached her. I immediately called Wells Fargo and notified them of the issue. They gave me a claim number and told me it would be 10 business days before the claim was resolved. I never received anything in my Wells account confirming I had filed a claim. I called back on XX/XX/XXXX and remarked that I had a claim number, but no acknowledgement from Wells that I had filed a claim. I was again told '10 business days ' to resolve the claim. 
Several days later, I did receive a notice in the mail that a claim had been filed. 
I waited the 10 business days and called Wells Fargo on XX/XX/XXXX as I had not been updated or informed of a resolution. During the course of speaking with several different representatives, I learned XXXX things : 1 ) the claim had been closed on XX/XX/XXXX as Wells had not been able to reach a representative of the Credit Union where the money ended up ( I was NOT notified the claim had been closed ) and 2 ) one of the representatives gave me the trace # of the transfer and the phone number and name of the credit union where the funds ended up, as if I was supposed to call and get my money back. 
I was on the phone with Wells Fargo for almost XXXX minutes and was told explicitly that my claim had been referred to the case management section for review and the Executive office for review. I was also told I could expect someone from the executive office to be contacting me, even on Saturday. I told the representative that I was not happy with the way the claim had been handled thus far, and asked if Wells Fargo really wanted me to go to the CFPB with all the publicity in the air currently. I indicated if my claim was not resolved by the end of today ( XX/XX/XXXX ), I would submit a complaint to the CFPB. He understood and definitely did not want that to happen. The only thing I did receive was a letter dated XX/XX/XXXX updating me with a status, which was 'we are working on it ' and there is n't even an expected completion date. One of the items in the letter indicates they may contact institution ( s ) involved in an effort to obtain the money. Well, as indicated above, they KNOW where the money is, they have the trace number and the name of the institution. The funds were intended for XXXX XXXX, not a CU in Colorado! 
In re-reading the disclosures involved with Surepay, there is an indication that if the funds are not cashed by the recipient within 14 days, the funds are returned to the originating account. The recipient has obviously not cashed the funds, so by the terms of the account, they should return the funds to my account. 
In speaking with the representatives, I indicated that the best course of action would be for Wells to credit my money back to me and keep pursuing the other institution for the funds. I can not believe the 4th largest bank in the US gave up on getting my funds back because, as they said, 'they could not reach the representative at the credit union who processed the transfer '. SERIOUSLY? That is their answer? I find that to be ludicrous, to think a customer would actually let this go because Wells ca n't reach someone by phone!! That is almost as ludicrous as them expecting ME to call the Credit Union myself to get my money back. 
I know this caused by an error on my part, however Wells has done NOTHING to rectify the situation except pass the buck and make noncommittal responses. 
In the CFPB complaint update that came out this week-Wells Fargo was among the top banks cited for complaints about money transfers, with XXXX % increase in cases going beyond 60 days for resolution

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