Consumer complaint received 2025-01-28 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
What Happened : On XX/XX/year>, at XXXX XXXX EST, I contacted Wells Fargo regarding an issue with my business account. During this call, I was assured by the representative that the issue had been resolved. I relied on this information, and as a result, I took no further action. However, I later discovered that this information was completely inaccurate, and as a direct result of Wells Fargo 's failure to provide reliable guidance, my business account is now being closed without my consent. 

On XX/XX/year>, I followed up with Wells Fargo and spoke to representatives XXXX and XXXX. I was told that my case needed to be escalated, and that it would take 24 to 48 hours for someone to be assigned to my case. Given that this entire issue stemmed from Wells Fargos error, I requested immediate action to resolve the matter. 

When I asked to transfer my funds to another account, I was informed that this could not be done because the process to close my account had already started. This lack of flexibility is completely unacceptable. My funds should have been accessible to me at all times, especially when the issue arose due to Wells Fargo 's misinformation and mishandling of my account. 

I also requested to speak with XXXX, the manager, for an expedited resolution. Despite my requests, XXXX refused to take my calla clear indication of negligence and a lack of accountability at the managerial level. This lack of response only exacerbates my frustration and concerns. 

This account is my business account, which I depend on to operate daily. The closure of this account could result in the loss of business relationships with my vendors and financial losses moving forward. Today, I was unable to make crucial purchases for my business, which puts my operations at risk. The failure to transfer my funds has caused significant harm to my business, and Wells Fargos failure to resolve this issue promptly could lead to future financial damages. 

The actions ( or lack thereof ) of Wells Fargo may expose the company to legal action for : Negligence in providing inaccurate information, resulting in financial harm and damage to my business reputation. 

Breach of fiduciary duty, as they failed to protect my funds and allow me to make necessary business transactions. 

Failure to honor contractual obligations, as Wells Fargo has not fulfilled its responsibility to provide accurate, timely service to a business account holder. 

Inconvenience and distress, caused by the unnecessary delays, misinformation, and lack of proper communication, leading to financial setbacks. 

I am requesting the following resolutions : Immediate resolution of the account closure issue to prevent any further disruptions to my business. 

Access to my funds so I can transfer them to another account, as I was told this option was unavailable once the closure process began. 

A formal acknowledgment of the inaccurate information provided to me and the inconvenience caused. 

Compensation or a gesture of goodwill to address the disruption to my business operations. 

Wells Fargos actions have severely impacted my business, and I am relying on the Consumer Financial Protection Bureau ( CFPB ) to take swift action on this matter. If not resolved promptly, I will pursue all available legal avenues to hold Wells Fargo accountable for its negligence, poor customer service, and the harm caused to my business.

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