Consumer complaint received 2025-08-29 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Struggling to pay your bill — Credit card company won't work with you while you're going through financial hardship
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
Wells Fargo misled us at account opening by assuring that a business credit card would not be tied to our personal accounts. Without warning, they later seized {$25000.00} from my husbands personal checking account, leaving it nearly {$10000.00} negative and our family of four without funds. We were never given proper disclosures, the collections letter was vague and misleading, and Wells Fargo refused to offer reasonable payment terms despite our repeated requests.

We opened a Wells Fargo business checking account and business credit card under our LLC using its EIN. At account opening, the banker specifically assured us that the business credit card was not tied to our personal accounts or credit. We asked directly if the card could impact our personal finances in any way, and the banker said, No, it doesnt, none of these accounts are tied to your personal because you have the business EIN . Based on this statement, we agreed to add the credit card. We were told to simply sign the pin pad, but were never provided disclosures to review or given the opportunity to see any terms about set-off or liens. We relied on the bankers representations in deciding to open the card. 

Over the past 18 months, our business has struggled severely, causing financial hardship and near homelessness for our family of fouXXXX. We updated our address to a XXXX XXXX XXXX. XXXX due to housing instability, but Wells Fargo admitted mail was also required to be updated in a hidden system. We received no calls with voicemails, as representatives admitted Wells Fargo does not leave voicemails. 

On XX/XX/year>, I first learned of a certified letter that was forwarded from an old address by phone call from the current residents. The letter demanded full payment by XX/XX/XXXX ( a Sunday, when Wells Fargo offices are closed ) but gave no clear explanation of what actions Wells Fargo could take if payment was not made. It did not state that personal accounts could be seized. I did not receive the letter until after the closure of Wells Fargo 's offices on XX/XX/XXXX, when it arrived in the mail from the current residents of our former address, giving me hardly one business day to respond. I called Wells Fargo immediately on Monday, XX/XX/XXXX for clarification, I asked repeatedly what rights meant in the letter. The representative told me it meant whatever Wells Fargo chose and could not provide any specific options. I asked if there was anything I could do, and I was told no. 

Later in the day on XX/XX/year>, without warning, Wells Fargo withdrew {$25000.00} from my husbands personal checking account, leaving the account {$9800.00} ( negative ). This removed all of our remaining funds and left us unable to cover basic daily expenses. When I called again, I was escalated to another team who initially said they would review the case. On XX/XX/year>, I was informed Wells Fargo would not reverse the transaction, citing Business Credit Card Customer Agreement under Bankers Lien and Right of Set-Off under South Dakota law . 

Key issues : 1. The account was opened in Nevada, not South Dakota.

2. The collections letter was vague, did not warn of set-off, and gave an impossible Sunday deadline.

3. We were never provided disclosures or warned of a right of set-off at signing.

4. We were explicitly told by the banker that the business account and credit card were not tied to personal accounts. They've never appeared on our personal credit reports either.

5. The forced withdrawal left my husbands personal account nearly {$10000.00} negative, devastating our family finances.

This withdrawal left our family, including two young children, without any funds to survive. We were misled at account opening by Wells Fargos banker into believing the business card was fully separate from our personal accounts. The vague collections letter gave us no realistic opportunity to respond, and representatives refused to provide clear answers about what actions could be taken. We have always been willing to repay the debt, but the misrepresentation, refusal to offer payment terms, and sudden seizure of personal funds placed us in severe financial and emotional distress. 

We request a full reversal of the {$25000.00} withdrawal from the personal account and the opportunity to establish a reasonable payment plan for the business card debt.

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