Consumer complaint received 2024-08-01 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Problem with additional add-on products or services — 
Company: WELLS FARGO & COMPANY
State: VA

Complaint narrative:
On XX/XX/XXXX my wife discovered several unauthorized XXXX transfers in a very short period of time that had drained our joint checking account balance. She asked me if I was familiar with the name the transfers went to or, if I had done the transfers. I had no knowledge of these transfers as I was not enrolled with XXXX and I don't know how XXXX works. My wife immediately called to report the unauthorized transfers on XX/XX/year> and was told the fraud team does not work on the weekends. She reported them to the online Wells Fargo representative and asked for the fraud team telephone number and what time they opened on Monday. She also asked for advice on whether or not the account should be closed and was told if it makes you feel safer. She responded that it did make her feel safer and so a new account number was issued for our joint checking account. She also asked that our joint checking account be frozen from any withdrawals as she saw another pending XXXX transfer for {$3500.00} that was in process. She was told it was most likely to late to try and stop the payment as it was already out of our account waiting to transfer. She called XXXX and the voice prompt told her she must go through the bank for unauthorized transfers. She called the Wells Fargo Fraud team at approximately XXXXXXXX XXXX est Monday XX/XX/year>. She reported the transactions as fraud. My wife was baffled as to why she received no messages of these large XXXX transfers. 
We went into our local Wells Fargo Bank on XX/XX/year> to sit down with a banker to help us navigate through the process of the fraud. We were unable to get a appointment until the next day XX/XX/year>. We let the banker know we had unauthorized XXXX transfers and needed help navigating through the problem. On XX/XX/year> at XXXXXXXX XXXX. while we were there the Wells Fargo banker she asked me to pull up the Wells Fargo Mobile App and I let her know I had never used it. She walked me through the process of installing it on my phone, and then discovered the XXXX payment messages about the transfers on this new account were there. I had no knowledge of this account and I had not opened it however it was in my name. The contact telephone and email address is not mine. The banker looked at our previous statement and saw that a loan had been applied for on XX/XX/year> and the loan had been approved and funded on XX/XX/year> {$10000.00}. had been deposited first in our joint checking account, and then rapidly XXXX out on XX/XX/XXXX, and continuing XX/XX/XXXX, XXXX, XXXX, XXXX XX/XX/XXXX, XXXX for a total sum of XXXX on the loan and XXXX from our joint checking account. These XXXX transfers went to the fraudulent account that was in my name only, with the fraudulent email and telephone number. We received no notification of this {$10000.00}. loan approval or that we had even applied for it because all correspondence regarding this was on the fraudulent identity theft account.

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 monetary relief