Consumer complaint received 2026-04-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Problem caused by your funds being low — Late or other fees
Company: WELLS FARGO & COMPANY
State: MN

Complaint narrative:
This is the email I sent to the Board of Directors of Wells Fargo Company on XX/XX/XXXX. To the Members of the Board of Directors, Wells Fargo & Company, I am escalating this matter directly to the Board of Directors to ensure it receives the attention it deserves. My husband and I have been banking with Wells Fargo since XXXX. We currently maintain XXXX business accounts ( XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX XXXX ) and XXXX personal accounts. This long-standing relationship makes the repeated changes to your business account policies all the more concerning. Most recently, the requirement to maintain a {$2000.00} minimum balancecombined with a $ XXXX monthly fee triggered even by a single day below that balanceis punitive and directly harms the businesses that support your corporation. While my local banker has agreed to reverse the most recent fees, that gesture does not address the larger issue : ongoing policy shifts that erode trust, loyalty, and the ability of small business owners to operate effectively in up and down rental seasons. Let me be clear : I am not nave. I understand that this is a strategic move by a massive corporation to leverage small business funds to generate millions in profit for itself. Wells Fargo profits from the blood, sweat, and tears of people like us, yet has no real understanding of the day-to-day realities of maintaining a business account balance. This is not oversightit is self-interest at the expense of your clients. You want a real story? Our entire HVAC smart system went down in oXXXX XXXX XXXX XXXX located in a XXXX XXXX XXXX XXXX XXXX We have had to refund multiple guests for a total of over {$1400.00} for the month of XXXX, not to mention the time, coordination, and cost of XXXX separate technician visits, which will total another $ XXXX. That level of stress alone is enough to make anyone want to scream into a pillowand now this added strain from Wells Fargos policies only compounds it. This is the reality of running a small business. Cash flow fluctuates, problems arise, and we carry the weight of it all. Has Wells Fargo forgotten what it takesthe grit requiredto operate a business day in and day out? What good does {$2000.00} sitting in my bank account, handcuffed to a corporation, actually do me? ABSOLUTELY NOTHING! I dont gain any operational flexibility or business advantage. In theory, the way your requirement is set up, it only benefits Wells Fargo, not the client. My funds are essentially being held hostage so the bank can use them to generate millions in profit off my capitalwhile my business is penalized for the very normal fluctuations in cash flow that any small business experiences. Repeated exploitation of small business clients is not acceptable. Your track record is not shiny. At this point, we will be actively preparing to move all accounts elsewhere this summer if these practices continue. I am an impatient person. Because of this, I am submitting this as a formal complaint with the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and my state Attorney Generals office to ensure this is formally documented and reviewed. This is not simply frustrationit is a record of how these policies impact real business owners in real situations. I expect acknowledgment and a substantive response from someone with authority at Wells Fargo -- without the usual runaround. Sincerely, XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX

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 monetary relief