Consumer complaint received 2025-01-29 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: WELLS FARGO & COMPANY
State: NY

Complaint narrative:
I am submitting this formal complaint regarding a wire transfer transaction that I initiated from my XXXX account, which resulted in financial loss due to potential fraud and mishandling by both XXXX and Wells Fargo. I already filed a complaint against both XXXX and Wells Fargo but I am filing this new complaint because today I got more information about Wells Fargo 's negligence about my money which I specifically asked them not to send to anyone due to scam risk. 

Summary of the Issue On XX/XX/XXXX, I approved a wire transfer of {$11000.00} from my XXXX account to a recipient 's Wells Fargo account. I mistakenly listed the beneficiary as Wells Fargo instead of the intended payee 's company name. This resulted in the recipient being unable to claim the funds initially. 

Realizing that the transaction seemed suspicious, I promptly contacted XXXX the next business day which is XX/XX/XXXX to request a recall of the funds. Shortly thereafter, a representative from Wells Fargo cantacted me first to ask about this transaction and confirmed that the {$11000.00} was indeed present in their system. I explaned the situation saying that I filed a fraud claim with XXXX and asked them not allow the payee withdraw the money and assured me that it would not be released to the recipient. Based on this assurance, I believed my money was secure. 

However, despite my proactive steps, I was shocked to learn on XX/XX/XXXX, that the recipient had withdrawn the full {$11000.00} on XX/XX/XXXX, without my authorization. I found that when I called XXXX to see the status of my recall and now the person at the wire department told me that she see the confirmation of withdrawn. When I contacted XXXX few minutes later to request trace or payment confirmation, another person at the same wire department told me that since money was gone, now I should be on my own to get this money back. Wells Fargo, meanwhile, has refused to provide any details regarding the transaction, stating that I am not their customer. 

Concerns and Violations 1. XXXX confirmed today ( XX/XX/XXXX ) that Wells Fargo has not responded to XXXX since XX/XX/XXXX meanwhile they were holding my $ XXXX on their hand since XX/XX/XXXX. Since I recalled on XX/XX/XXXX, XXXX contacted to Wells Fargo XX/XX/XXXX, XX/XX/XXXX, and because Wells Fargo asked more documents, XXXX sent more documents on XX/XX/XXXX. However, Wells Fargo neveer responded to XXXX since XX/XX/XXXX until the money was withdrawn by this scammer on XX/XX/XXXX. 

2. Wells Fargo 's Negligence in Allowing the Withdrawal A Wells Fargo representative cojtacted me first back in XX/XX/XXXX about this transaction because I put the beneficiary as Wells Fargo bank instead of the scammer 's company name. She comfirmed me that she saw my $ XXXX in their side. When I asked her " do not let my money go out to anyone because I think it's a fraud '' she assured me that my funds would not be released, yet the money was withdrawn despite their acknowledgment of my extreme concerns. 

3. Wells Fargo has refused to provide me with any trace details or confirmation of payment, citing that I am not their customer, despite my funds being involved in their banking system. 

I believe both XXXX and Wells Fargo have acted negligently, and I request that they be held accountable for their actions. Please let me know the next steps regarding this complaint and any additional information you require. 

Thank you for your time and assistance in this matter. 

Sincerely,

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