Consumer complaint received 2025-06-22 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Banking errors
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
On XX/XX/XXXX, I received email and SMS alerts from Wells Fargo stating that XXXX direct deposits {$320.00} from the IRS and {$450.00} from the California XXXX XXXX XXXX XXXX XXXX  ) were available in my account through the banks XXXX XXXX XXXX XXXX. My available balance XXXX XXXX XXXX showed {$770.00}. Later that morning, my balance dropped to {$450.00} without explanation, indicating the {$320.00} IRS deposit was reversed or withheld, yet no reversal or adjustment entry was recorded on my statement or transaction history. 

Based on the balance Wells Fargo showed, I transferred {$400.00} that day. The next day, XX/XX/XXXX, my account showed a negative balance of - {$320.00}, even though the {$450.00} XXXX refunddated XXXX XXXX have been available by XX/XX/XXXX, in accordance with XXXX XXXX XXXX XXXX XXXX XXXX Instead, Wells Fargo delayed availability until XX/XX/XXXX and did not post it until XX/XX/XXXX, which was too late to prevent negative balances. 

The {$320.00} IRS deposit did not officially post until XX/XX/XXXX. Between XX/XX/XXXX and XXXX, my account went into a negative balance, which could have been avoided had the XXXX deposit posted on time or if the IRS deposit had not been silently revoked. This caused significant confusion and financial impact due to misleading balance updates and non-transparent handling of XXXX XXXX had to pay {$370.00} to bring my account to positive balance and another negative balance of XXXX on XX/XX/XXXX in which my deposit posted after bringing it to positive. I requested reimbursement of the paid negative balances that were a result of wells fargo services or funds availability error. 
Between XX/XX/XXXX and XX/XX/XXXX, Wells Fargo processed and later reversed several payments to my XXXX XXXX XXXX credit card and other accounts. These reversals occurred even though funds were available at the time of each payment. 

The payment reversals caused serious harm to my financial standing : Multiple credit card issuers, including XXXX, recorded these as returned or failed payments, despite no evidence in my Wells Fargo statements. 
My credit limit was reduced and card access restricted by XXXX due to these reversal flags. 
I incurred over {$240.00} in late fees and interest charges due to falsely recorded missed payments. 

In addition, many of the reversed payments never showed up as reversals or credits on my Wells Fargo statement, meaning the funds were deducted but not properly returned. 

I have requested full transaction records from Wells Fargo and an explanation for each reversal or failed XXXX, but I have not received a full resolution or refund. The inconsistent transaction posting order, delayed credits, and invisible reversals point to systemic processing issues. 

I am requesting the CFPB investigate : Why payments were reversed when funds were available ; Why no reversal entries appear on my statements ; Why Wells Fargos payment order and overdraft logic contradict their own disclosures ; And to ensure reimbursement and correction of all errors and credit reporting impacts caused by these actions.

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