Consumer complaint received 2024-12-31 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
Dear XXXX XXXX XXXX XXXX, Wells Fargo Bank CEO I am writing this on behalf of my XXXX mother XXXX ******* who can not do this herself. 

My name is XXXX XXXX. I have been a Wells Fargo customer for 35 years ever since XXXX when it was called XXXX XXXX. My mother and son, XXXX ******* have also been customers for years. Recently, our joint savings account that is shared by all three of us was manipulated by someone online that created a profile to be my son XXXX XXXX and stole money from his personal checking account. Because our joint savings account was linked together along with his checking account, money was stolen from both accounts totaling just under {$10000.00}. I would think it would be the Wells Fargo 's practice to verify such a large transfer before letting it go through, especially since we have never taken money out of that account since it's been opened and always added money to it. Obviously, now my thought is that Wells Fargo is not a safe bank. 

We immediately reported it to the bank and closed the accounts and an investigation was started. All three of us went to our local branch after waiting more than a week to get an appointment and all our identities were verified. We were told we would hear from the bank within ten days. 

We recently received letters that the investigation was closed and that we would not be getting our funds back and that the bank has determined that Wells Fargo is not at fault and that we authorized someone to make that transaction. That is all the information that we have at this time and the investigation is closed. My mother has been trying to get answers and has spent numerous hours on the phone and even went back to our local branch to speak with a manager but can not get any further with this investigation or complaint. The money stolen was an online transfer from our joint account to my sons checking account and then stolen from that account and transferred to a credit card from what I understand. This was told to us from the bank employee. As my son did not do this, nor I, or my mother, this is definitely a fraud with identity theft situation. Since this was all done online, I am sure the bank fraud department can use an IP address to see the location of the device and who could have done this We were provided with no answers, and this is totally unacceptable. 

I am not sure how my son is considered a co-owner on our joint account so his personal checking account should have never been linked to our savings account. My mom opened this account ending in XXXX on XX/XX/XXXX when he was XXXX XXXX XXXX as a beneficiary and not a co-owner. I am the only co-owner on the account, which I had to sign for years ago. My son never signed anything listing him as a co-owner, especially being only a year old at the time. My mother, XXXX XXXX had to make another trip to the bank to speak with another manager to request copies of the investigation which we still have not received. I believe that because my mother is elderly that she is just being given answers to accept this as a closed investigation and that is not going to be the case. Since he was listed as a co-owner, we had to change him to a beneficiary which is what he was in the first place so whoever has his identity could not get back into the joint account. You can not believe how much stress this has caused on all of us. The way that I understand the outcome of the investigation is that my son transferred money into his account and then stole his own money out of his own account. As you can see that makes no sense. 


I am hoping that you, as the CEO of Wells Fargo can help us with this. We just want our money back that was stolen and is insured by the bank. Not a XXXX more or less. I have never taken legal action against anyone or any company nor do I wish to do that, but I feel that at this point I might have no choice. 

Going through our online bank records the fraud was committed on XX/XX/XXXX with a total of {$9800.00} made to a XXXX XXXX Credit Card on-line from Bill Pay ending in number XXXX. This is where the fraud is, these are not our credit cards, and I don't understand how the bank can not see this. I would think that whoever owns this credit card can easily be identified. 

We have filed a police report case # XXXX for identity theft for my son XXXX with the XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. 

I have submitted attachment of what I have to further educate you in this matter. 

Claim # XXXX - XXXX closed ( joint account ) Claim # XXXX - XXXX closed Claim # XXXX - XXXX closed ( XXXX 's account ) Claim # XXXX - XXXX? 
I hope I will get a response from you.

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