Consumer complaint received 2026-01-20 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: CA

Complaint narrative:
I am filing this complaint against Wells Fargo Bank , N.A . for unlawfully closing my business checking account without notice, falsely alleging fraud and identity theft, and improperly freezing and withholding my funds.

Account and Promotional Background Wells Fargo sent me multiple promotional offers encouraging me to open a business checking account. The offer stated that I would receive an {$820.00} bonus if I deposited and maintained {$25000.00} for 60 days. 
Account opened : XX/XX/XXXX Initial deposit : {$25000.00} Account status : In good standing at all times No overdrafts, suspicious transactions, or violations I fully complied with all stated promotional and account requirements. 

Account Freeze and Closure Without Notice On XX/XX/XXXX, Wells Fargo froze and closed my business checking account without prior notice. I was unable to log in and received a message stating that my credentials were XXXX. 

I did not receive any advance warning, request for verification, or opportunity to address any alleged concern before the account was closed. 

False Fraud and Identity Theft Allegations Wells Fargo later mailed a letter dated XX/XX/XXXX, which I received on XX/XX/XXXX, claiming that I was a victim of fraud and identity theft. 

This allegation is false. 

When I called the phone number listed on the letter : A Wells Fargo representative accused me of being the person who allegedly contacted Wells Fargo to report the account as opened in error I did not make such a call The representative stated that my {$25000.00} would remain frozen and that there was nothing he could do I called Wells Fargo again and spoke with another representative who : Refused to release my funds Stated that I might be able to retrieve my money at a branch I then contacted a Wells Fargo branch in XXXX, XXXX, and was told : I could not withdraw my funds The account closure was a business decision Wells Fargo would continue holding my money despite closing the account Improper Withholding of Funds Despite closing my account, Wells Fargo continues to hold {$25000.00} of my money with no timeline, documentation, or lawful explanation. 

At no point was I : Provided evidence supporting the fraud or identity theft claim Allowed to verify my identity Given written justification for the continued withholding of my funds Unfair and Deceptive Practices Wells Fargos actions appear to constitute unfair, deceptive, and abusive practices, including : Inducing me to open and fund an account with a promotional offer Closing the account before the promotional period concluded Making false allegations of fraud and identity theft Using those allegations to justify withholding my funds Attempting to avoid payment of the {$820.00} promotional bonus Resolution Requested I respectfully request that CFPB require Wells Fargo to : XXXX. Immediately release and return my {$25000.00} XXXX. Provide a written explanation and evidence supporting the fraud and identity theft allegation XXXX. Correct any internal or external records falsely indicating fraud or wrongdoing on my part XXXX. Confirm that no negative reporting has been or will be made to XXXX XXXX XXXX XXXX, or any credit bureau XXXX. Honor and pay the {$820.00} promotional bonus, which Wells Fargo induced me to open the account to earn Wells Fargos continued withholding of my funds without notice, proof, or due process is unacceptable and requires regulatory intervention.

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