Consumer complaint received 2020-08-11 00:00:00
Product: Money transfer, virtual currency, or money service — International money transfer
Issue: Other transaction problem — 
Company: WELLS FARGO & COMPANY
State: MN

Complaint narrative:
On XX/XX/2020, I initiated a wire transfer from my small business to a company in XXXX in the amount of {$5600.00} from XXXX  XXXX  account at Wells Fargo bank in Minnesota. The XXXX company I was paying provided XXXX information for both the destination bank (  XXXX  XXXX XXXX )  and their intermediary in the US ( XXXX, now known as Wells Fargo XXXX XXXX ) as well as account information for the XXXX  XXXX XXXX. On XX/XX/XXXX, the intended recipient called to confirm that I had in fact sent the transfer because he had not seen the funds arrive. I contacted Wells Fargo. They informed me there was a problem with the transaction and that it was being cancelled. They said my funds would come back to me and that I should expect to see those funds back in my account in 7-10 business days. I was unable to initiate a new wire transfer to the vendor via Wells Fargo ( I tried to get on the phone with a rep so they could ensure I was entering the information absolutely correctly but she had difficulty understanding the support I needed and my call was cut off ), so I set up an account with a service called XXXX and sent the payment out that day. That transaction was completed and arrived at the destination within 24-48 hours. On XX/XX/XXXX, the {$5600.00} from the original wire transfer had not yet arrived back in my account. I contacted Wells Fargo. The first CSR I spoke to told me that the wire transfer was, in fact, completed and that the recipient should have the funds. I reached out to the XXXX vendor and was told they had NOT received the original wire transfer, only the funds sent via XXXX. I called back in to Wells Fargo and the second CSR I spoke to did some additional digging and came back to tell me that the wire transfer had gotten " stuck '' at Wells Fargo XXXX XXXX which is technically a separate entity from my domestic Wells Fargo. The wire transfer division was closed for the night, but she recommended I talk to someone the following day in that specific group to get more information about what was going on. I called back on XX/XX/2020. I was told that the two banks have been communicating via the XXXX  XXXX. Wells Fargo XXXX XXXX says that the wire transfer can not be completed with the information provided and to please share additional details about the recipient ( account number, etc. ) in order to process the transfer. Then MY bank responds that it wishes to cancel the transaction and have the funds sent back, please confirm. From what I have been told, this exchange has been repeated multiple times since XX/XX/XXXX when the transfer was initially rejected. Each bank makes the exact same statement ( we need more info, please send the funds back ) and nothing actually happens. Meanwhile, my {$5600.00} is being held in limbo. The CSR suggested I speak to my banker to try to escalate the issue and get resolution. I made an appt. and went in to my local branch on XX/XX/2020. The banker attempted to reach out to the wire transfer division but was told essentially the same information - that the banks could only communicate via XXXX, that Wells Fargo could not " make '' Wells Fargo NA XXXX do anything, but could only wait for Wells Fargo XXXX XXXX to recognize that it was being asked to send the funds back. I was - perhaps mistakenly - given the email address for the investigator assigned to my case. I emailed her on XX/XX/2020 and received no reply. I called in again on XX/XX/2020 and was told that there had been one more round of the same communication between the two banks, but otherwise, nothing had progressed. It is now XX/XX/2020, almost a month since I initiated the wire transfer and almost two weeks since I was told the funds should have been back in my account. I have tried as many things as I can to escalate this and reach resolution. I have no way as a consumer to reach Wells Fargo XXXX XXXX to push this along, and Wells Fargo claims they can not reach out to them any way other than via XXXX, which has been unsuccessful to date. I worry that this infinite loop could go on for months without resolution - and, in the meantime, I'm out {$5600.00} of working capital at a time when a small business needs all the cash flow it can muster. I don't mind if it takes 10 more days, I just need assurance that Wells Fargo XXXX XXXX recognizes that it is being asked to return the funds and puts that process in motion. I have a wire transfer # and an investigation case # I can provide.

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