Consumer complaint received 2026-03-11 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
On XX/XX/XXXX, Wells Fargo placed a hold on my entire checking account containing {$120000.00} in personal funds, based solely on a fraud claim submitted by XXXX XXXX Wells Fargo claims that a deposit of {$4300.00} made on XX/XX/XXXX was incorrectly or fraudulently deposited into my account. This claim is factually false and is directly contradicted by documentary evidence in my possession. The {$4300.00} deposit was a legitimate rental payment made under a fully executed Short-Term Rental Agreement dated XX/XX/XXXX, between my company and a tenant associated with XXXX XXXX XXXX The agreement covered a rental period from XX/XX/XXXX through XX/XX/XXXX, for a property located in XXXX, Texas. The payment of {$4300.00} covered rent, utilities, and furnishings as explicitly stated in the signed contract. This was a valid, documented, arm 's length real estate transaction supported by a written and signed rental agreement. I have the signed contract in my possession and it is available for immediate review. The transaction was entirely legitimate and the fraud claim filed by XXXX XXXX is completely unsubstantiated. Wells Fargo has provided no adequate written explanation for why the entire account containing {$120000.00} was frozen rather than isolating only the disputed {$4300.00}. I was contacted only once by phone no written notice was provided, no opportunity to respond to the claim was given, and no formal appeals process has been offered. I have called Wells Fargo multiple times attempting to get answers and resolution. Every time, I am transferred from one representative to another with no one willing or able to provide me with the legal basis for the freeze, written documentation of the claim, or any clear timeline for the return of my {$120000.00}. I have been left completely without answers, without access to my funds, and without any path forward that Wells Fargo has been willing to provide. The financial damage caused by this wrongful freeze has been severe, ongoing, and devastating. I have been unable to make scheduled payments. My professional work has come to a complete stop. I have lost contracts as a direct result of my inability to operate financially. I am now at serious risk of foreclosure on real property due to missed mortgage payments. I have incurred penalty fees on at least one property as a direct consequence of {$120000.00} in funds being inaccessible since XX/XX/XXXX. Wells Fargo 's actions have caused cascading financial destruction to my livelihood, my business, and my real estate holdings, and the damage grows worse every single day my funds remain frozen. This pattern of conduct is consistent with actions for which the CFPB previously ordered Wells Fargo to pay {$3.00} XXXX, including over {$500.00} XXXX specifically for unlawfully freezing customer accounts based on unverified third-party fraud claims. Wells Fargo froze over XXXX XXXX accounts in that prior enforcement action using a faulty automated filter without adequate investigation. The signed rental agreement confirming the legitimacy of the {$4300.00} transaction is in my possession and available for immediate submission upon request. As of the date of this complaint, I have been without access to {$120000.00} of my personal funds for nearly XXXX month, with Wells Fargo indicating a check will not be mailed until XX/XX/XXXX and will take an additional XXXX to XXXX business days to arrive and the address Wells Fargo has on file XXXX not even be correct, putting the delivery of that check further at risk.

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 non-monetary relief