Consumer complaint received 2024-04-23 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
On XX/XX/XXXX, a total of {$13000.00} was fraudulently removed from my saving account with Wells Fargo Bank. I reported to my main branch in XXXX XXXX immediately and spoke with XXXX people at the branch who confirmed it was fraud. They gave me a fraud number for Wells Fargo to call on my own time, which I did immediately and spent XXXX hours on the phone that first report. Of the total sum removed from my account {$1000.00} was a XXXX  transfer to a person named XXXX XXXX. I do not know this person and have never met them and have never spoken with them. Then {$5000.00} was sent out of the account to XXXX XXXX and then another transaction for {$7500.00} was sent to XXXX again. I do not know and have never spoken with a XXXX XXXX. I filed a report with the bank immediately after spending hours on the phone with them. They replied via email and letter stating that they reimbursed the {$1000.00} that was XXXX out but that they were not responsible for the {$12000.00}. On XX/XX/XXXX the {$1000.00} was credited as well as XXXX separate wire fees. It was clear to me at that point that they did not want to acknowledge the fact that their security was flawed. Mind you, I have XXXX factor security and change my passwords. I was given a fraud claim number for the {$1000.00} and then a separate fraud claim number for the {$12000.00}. I was not satisified with their reply that was essentially a manufactured, auto-generated response and contacted Wells Again XXXX XX/XX/2024. They repeated the same XXXX response and claimed they performed an investigation and tried to recall the money but that they could not. I received the same email and letter. I called again on XX/XX/XXXX to speak with someone who had decision making power. I was tossed around to several different people at Wells Fargo who regurgitated the same things. I have asked for details -- step by step -- as to the investigation they claimed to self-conduct, which doesn't make any sense to me that they conducted it ( of course they don't want to be liable for these funds ), but they failed to send any details to me and ignored my request. I have been a customer with them for decades and this is absolutely unacceptable the way they have withheld my funds, which I could have removed from their institution and invested. I have now been without {$12000.00} for months. Please help. 

I am also aware of other people in my circle where this has happened. Some with Wells Fargo and some with other banks. In those involved with fraud issues and large sums with XXXX XXXX XXXX, they credited their clients. Everyone dealing with this with Wells Fargo is equally frustrated. This is not ok. This is a Wells Fargo problem not a me problem and I should NOT be out this large sum of money due to their failure to protect my 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 explanation