Consumer complaint received 2026-06-23 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Problem with cash advances
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
On Friday, XX/XX/XXXX, at approximately XXXXXXXX XXXX XXXX, an individual gained unauthorized access to my Wells Fargo online banking account without my knowledge or consent. After accessing my account, the individual changed my password, preventing me from logging in and managing my accounts. While I was locked out of my account, the individual initiated a {$14000.00} cash advance on my credit card and transferred those funds into my checking account. The individual also transferred approximately {$35000.00} from my savings account into my checking account. Shortly thereafter, I received a phone call from a Wells Fargo phone number. The caller identified himself as a Wells Fargo fraud XXXX, provided a badge number, and claimed he was investigating suspicious activity on my account. He stated that my accounts had been compromised and that his objective was to help secure my funds by moving them into a new, protected account. The caller possessed extensive personal information, including my Social Security number and answers to my security questions. Given that he appeared to have access to confidential information that should have been protected by Wells Fargo, that I had already been locked out of my online banking account, and that the call appeared to originate from a Wells Fargo phone number, I reasonably believed I was speaking with a legitimate Wells Fargo representative. During the call, I received text messages containing verification codes, which the caller represented as part of the process of establishing a new secure account. He then instructed me to obtain a cashier 's check for the funds in my accounts and deposit it into the newly established account. Believing I was acting to protect my assets, I followed these instructions. After completing the deposit, I became concerned that something was wrong. Approximately XXXX minutes later, I returned to the Wells Fargo branch on XXXX XXXX, in XXXX, CA and requested that the transaction be reversed immediately. I explained that I believed I had been the victim of fraud and that my life savings were at risk. The branch XXXX informed me that the teller who processed the transaction had already left for the day and stated that there was nothing that could be done. I found this response unacceptable given the urgency and severity of the situation. The money was deposited into another Wells Fargo account, yet the manger was not able to do anything. Despite repeatedly requesting assistance and explaining that approximately {$48000.00} was at risk, I was unable to obtain meaningful help or intervention. The branch was able to place a hold on my account ; however, I was informed that no hold could be placed on the account into which the cashier 's check had been deposited. This response was difficult to understand, particularly given that Wells Fargo had been notified almost immediately that the transaction was fraudulent. I returned to the branch the following morning and was again told that little could be done beyond placing a temporary XXXX hold on the newly opened account. Due to the holiday weekend, I returned on Tuesday, XX/XX/XXXX, at which time I was informed that all of the funds had been withdrawn and were no longer recoverable. A fraud claim was subsequently filed with Wells Fargo. During the investigation, Wells Fargo gave me approximately {$19000.00} back, saying that was all that could be recovered from the recipient account. However, Wells Fargo then indicated that the {$14000.00} cash advance, along with approximately {$700.00} in associated fees, would need to be returned to them from the recovered {$19000.00}. As a result, Wells Fargo is holding me responsible for a cash advance transaction that I neither authorized nor initiated. I am deeply concerned that Wells Fargo has not accepted any responsibility for the apparent compromise of my account security. Had the unauthorized individual been unable to gain access to my online banking profile and sensitive account information, these events would not have occurred. Additionally, I remain troubled by the branch XXXX 's response when I reported the fraud immediately after the transaction occurred. I sought assistance within minutes of realizing I had been deceived, yet no effective action was taken to prevent the loss of my funds. I also do not believe Wells Fargo conducted a thorough or transparent investigation. At no point was I contacted to provide a detailed statement regarding the events. Furthermore, Wells Fargo has not provided documentation, evidence, or a clear explanation of its investigative findings despite multiple requests for information and clarification. I have filed a police report with XXXX XXXX regarding this incident. Based on available information, I believe the perpetrator XXXX have been operating from Florida. It is my understanding that Wells Fargo 's investigative team should be able to verify that the unauthorized account access and related activity originated from a location outside my state of residence. As a resolution, I respectfully request that Wells Fargo : XXXX and permanently remove all charges, fees, and interest associated with the unauthorized {$14000.00} cash advance. In total now is approximately {$14000.00}. Reimburse the approximately {$35000.00} that was withdrawn from my savings account as a result of this fraud. Provide a complete explanation of its investigation, including the evidence and findings upon which its decisions were based. Explain why immediate action could not be taken after I reported the fraud at the branch shortly after the transaction occurred. I entrusted Wells Fargo with my life savings and expected reasonable safeguards to protect my accounts and personal information. The outcome of this incident has left me with less than {$5000.00} out of {$35000.00}, plus being asked to pay back {$14000.00} and has caused significant financial hardship. While I hope this matter can be resolved amicably, I am prepared to pursue all available legal remedies if necessary. Requested XXXX I dispute Wells Fargo 's determination that I am responsible for the unauthorized {$14000.00} cash advance and associated fees. I did not initiate, authorize, or benefit from this transaction. The cash advance was completed only after an unauthorized party gained access to my account and changed my credentials, preventing me from accessing my online banking. I also request reimbursement of the approximately {$35000.00} that was removed from my savings account as a result of this fraud. I reported the fraud to Wells Fargo immediately after recognizing that I had been deceived and returned to a Wells Fargo branch within approximately XXXX minutes of the cashier 's check deposit in an effort to stop or reverse the transaction. Despite this prompt notification, Wells Fargo failed to prevent the loss of my funds. Additionally, I request that Wells Fargo provide : A complete explanation of its investigation and findings ; Documentation supporting its conclusion that I am responsible for the cash advance ; Records showing when and from where my online banking credentials were changed and accessed during the incident ; An explanation of what actions were taken after I reported the fraud in person at the branch ; and An explanation of why the transaction could not be stopped or reversed after Wells Fargo was notified. This incident resulted in the loss of nearly all of my life savings despite my prompt efforts to report the fraud and mitigate damages. I am requesting that Wells Fargo reverse the unauthorized cash advance and related fees, reimburse the funds lost as a result of the fraud, and provide a full accounting of its investigation and handling of this matter.

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