Consumer complaint received 2021-10-14 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Fee problem
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
XX/XX/XXXX I opened my Bank account in Wells Fargo in XXXX In XXXX or earlier, I wanted to open savings accounts for my grand children so I can deposit about {$20.00} in each of their accounts every month. I was informed that I can open sub accounts under my Checking account and I had very clear understanding that there will not be any charges or fees. Some nice polite banker helped me with opening these accounts and all was fine. I checked in the initial months to make sure all was well and no hidden charges or fees were being charged. 

A few years later, I found out that the bank has been charging fees from all of these accounts. I figured, it was a mistake and contacted the bank. As usual they were very nice and polite and promised to look into the matter and resolve it. First they returned a very small amount and then some more. This thing went on back and forth for a few months. And finally they informed me that they have returned all the fees they had charged and all is well and also assured me that this will not happen again. They explained something that I do not fully understand and said, that my account is privileged as 'grandfathered ' and as long as I have {$1500.00} combined in all of my accounts, bank will not charge any fee. Someone from the Corporate Office also said sorry about the incident and assured me that it will not happen again. I checked the accounts again for couple of months to make sure fees were not charged and moved on. 

Now in XXXX, about two months or so back I found out that the bank is again taking money from the little children accounts every month. I am depositing about {$20.00} in each of these accounts every month and the Bank is charging a Fee of {$10.00} per month from each of these account every month. Makes no sense. It seems so unethical... Any way, I called the Bank again and again started talking to all these nice polite people. I was informed that only some money was returned and not all. That confused me, as I was told at that time, that all the fees have been returned. 

I have talked to several people at the bank by phone and finally I think this lady XXXX XXXX is understanding the matter. She did return some money and is working on the rest. She has made some changes so that fees are never again charged on these accounts. She is very cooperative and helpful, but it is taking too long and perhaps, she needs ok from her higher ups. 

Wells Fargo is a very big bank and growing wealth. Taking {$10.00} per month from a Savings Account where the monthly deposit is on {$20.00} does not make any sense. It seems very unethical. I understand, it is just some software program. Lots of brains but no Heart. My experience with banks is always very good. Bankers are always friendly and very much humans and Personal Banker is still a valuable friend today and should be able to resolve such matters quickly and effectively. 

Other than this, I have no complaints against Wells Fargo and will continue to call it My Wells Fargo Bank. I am sure common sense will prevail and this matter will be resolved. 

XXXX XXXX XXXX XXXX XXXX XXXX, TX XXXX XXXX XXXX XXXX

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