Consumer complaint received 2024-04-12 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Other transaction problem — 
Company: WELLS FARGO & COMPANY
State: IL

Complaint narrative:
I am writing to bring to your attention a critical issue that our company has been facing regarding our business checking account and payroll wire transfers, specifically in conjunction with XXXX, our trusted payroll services provider. Our company has been a valued customer of Wells Fargo for several years, relying on your services for our banking needs, including processing weekly payroll payments exceeding {$150000.00}. 

Regrettably, over the past two months, we have encountered significant challenges with our payroll wire transfers that have caused severe disruptions to our operations. On two separate occasions, XX/XX/year>, and XX/XX/year>, our business checking account was debited for the intended wire transfer to our payroll services company. However, without any prior notification or explanation, these transfers were inexplicably halted due to audits initiated by your compliance team. 

What is particularly concerning is that neither the compliance team nor any representative from Wells Fargo reached out to our company to inform us of these audits or the reasons behind them. Consequently, our employees have experienced delays in receiving their pay, leading to frustration and unnecessary inquiries from our end. 

Despite promptly providing the requested information for compliance purposes, including primary account Full member Name, date of birth, full address, and other details, on XX/XX/year>, we have yet to receive a satisfactory resolution to this matter. It is important to note that this information is readily available to any Wells Fargo employee and does not deviate from standard protocol. 

Despite our numerous attempts to escalate the issue and seek updates from your wire transfer team, we have been met with a disheartening silence, receiving no indication that the situation is being addressed with the urgency it unequivocally demands. This lack of communication and accountability is wholly unacceptable, especially considering the significant financial implications and the profound impact on our employees ' livelihoods. 

We urgently implore your immediate intervention to resolve this matter and provide us with a transparent explanation for the repeated audits on our payroll wire transfers. Furthermore, we seek concrete assurances that measures will be promptly implemented to prevent such disruptions in the future, coupled with improvements to communication protocols to ensure that we are promptly informed of any issues affecting our account. 

Failure to promptly and effectively address this issue will regrettably compel us to reassess our banking relationship with Wells Fargo and explore alternative banking solutions that can offer the reliability and efficiency we demand for our payroll processing. 

We earnestly appreciate your urgent attention to this matter and anticipate a swift and satisfactory resolution.

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