Consumer complaint received 2022-01-06 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: PA

Complaint narrative:
On. XX/XX/XXXX at XXXX. I received a text message from what I thought was Wells Fargo stating " did you attempt a XXXX payment for {$3500.00} on XX/XX/XXXX reply Yes or No Case # XXXX ''. At XXXX XXXX I replied " NO ''. I called Wells Fargo at XXXX to discuss the text message I received. I was placed on a 45 minute hold. While waiting on hold, I received a phone call from XXXX ( which appeared to be Wells Fargo ). The person identified himself as XXXX XXXX from Wells Fargo and stated he would assist me in blocking the transmission of {$3500.00} from being sent. He said he would walk me through step by step. He also, stated he would place a Manager on the phone by the name of XXXX XXXX to validate the transaction. XXXX proceeded to send me a text message from XXXX issuing me a code to identify that this call was legitimate. Once I received the text he said that I would need to create a XXXX recipient account to myself using my cell phone number. I did as he instructed. I sent in two separate transactions one for {$1000.00} and another for {$2500.00} to myself XXXX XXXX using my cell phone number. When the transaction on my end was complete we were disconnected. I waited approximately for 1 minute for a return call that never happened. I immediately realized it was fraud and called Wells Fargo to block the transmission of the funds. Wells Fargo stated there was nothing they could do at this time. While speaking with the funds were transferred out of my account. We immediately began to shut down all of my Wells Fargo accounts, I filed a claim ( claim # XXXX ) and was transferred to the Fraud Department. Approximately 10 business days after the occurrence I was provided a provisional credit. On, XX/XX/XXXX, I received a letter dated XX/XX/XXXX, which stated the investigation has been concluded. It was determined that this was a SCAM and the provisional credit ( s ) will be debited from my account on XX/XX/XXXX. I called Wells Fargo on XX/XX/XXXX and spoke with a XXXX XXXX I wanted to know why the provisional credit ( s ) were going to be reversed. He stated Wells Fargo does not cover products or services. I did not purchase any service or product under false pretences. This was not a SCAM this was Fraud. I told XXXX that what happened to me was covered under Regulation E, the Electronic Funds Transfer Act and could be found in the EFTA amended FAQ 's dated XX/XX/XXXX item # 5. He then said that he would have to escalate the issue and someone would get back to me within 48 hours. Of course, that never happened. On XX/XX/XXXX, I reached out again and got the runarounds, I spoke with several people, created a case ( case # XXXX ) with the XXXX Team with another promise to be contacted within 7-10 days. I do not have the liberty of that timeframe because the money will be reversed on XX/XX/XXXX. Not at any point did Wells Fargo ask for supporting documentation, text messages or screenshots. They did not extend the investigation period do to lack of information. So, I am confused as to how the investigation was concluded. I have also filed a complaint and provided all details of my experience with the XXXX. I just want the money provided as a provisional credit to stand.

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