Consumer complaint received 2026-05-28 00:00:00
Product: Checking or savings account — Checking account
Issue: Closing an account — Company closed your account
Company: WELLS FARGO & COMPANY
State: NC

Complaint narrative:
I have been a Wells Fargo customer since XXXX, and I relied on Wells Fargo as my sole checking account for all personal and financial obligations. Beginning in XX/XX/XXXX, Wells Fargo initiated a series of severe and repeated operational failures that have caused escalating financial harm. These failures reflect a breakdown in internal controls and appear to constitute a pattern of unfair practices. The first major error occurred when Wells Fargo froze my personal checking account after I deposited a promotional convenience check tied to my line of credit ( commonly referred to as a balancetransfer check ) that Wells Fargo themselves mailed to me. Wells Fargo had changed the underlying account number for that credit line the same day they reissued my card, yet still mailed promotional checks tied to the old, invalid account number. This internal inconsistency caused the initial freeze. After the XXXX freeze, I went to a Wells Fargo branch and provided a written explanation along with screenshots of the promotional offer and the check. A banker emailed this documentation directly to Wells Fargos fraud department. Wells Fargo subsequently reopened my account, which demonstrates that the original freeze and closure were not supported by valid evidence and should never have occurred. Despite this, on XX/XX/XXXX, Wells Fargo froze and closed my account again for the exact same reason, without any new information, communication, or investigation. When I called the fraud department, the first representative told me that these issues often get rereviewed and confirmed that this was the same issue as before. When I escalated the call, the next representative told me the decision was final and that there was no further escalation available. These contradictory explanations and the refusal to provide any additional review highlight a lack of consistent process, a failure to conduct a proper investigation, and a systemic breakdown in internal controls. This second closure occurred even though Wells Fargo had already reviewed the same facts and previously reversed their decision. Following the second closure, Wells Fargo retroactively reversed multiple ACH credits that had already posted, which pushed my account deeply negative. Retroactive reversal of posted credits appears to violate Regulation E, which governs error resolution and prohibits improper or unexplained reversals of electronic fund transfers. These actions caused XXXX categories of downstream harm : Harm directly caused by the retroactive ACH reversals : - XXXX separate XXXX payments to XXXX different individuals were returned, disrupting those financial relationships and requiring me to repair the situation with each person. - A scheduled loan payment was reversed. Harm directly caused by the account freeze preventing access to funds and blocking incoming credits : - My payroll deposit was rejected because the account was frozen and unable to receive incoming credits. - Because Wells Fargo was my only checking account at the time, the freeze left me with no ability to make payments or access funds until I could establish a new banking relationship. - I am now going to be late on my mortgage payment and secondmortgage payment, because both were set to autopay from my Wells Fargo account. With the account frozen, I can not use checks, and I had to open a new checking account, expedite checks, and attempt to reroute payroll. These delays will cause both mortgage payments to be late. - I am now forced to reestablish all of my autopay arrangements at a new bank under urgent time pressure, which has created additional financial and administrative burden. - Because Wells Fargo was my only checking account with checkwriting capability, the freeze left me unable to make required payments. This disruption put me at risk of having a {$500000.00} lifeinsurance policy lapse, which would be extremely difficult or impossible to replace at the same coverage level. I have always paid this policy by mailing a physical check shortly before the quarterly due date, and the account freeze prevented me from doing so. To prevent the policy from lapsing, I had to purchase a cashiers check from my new banking relationship and send the payment via expedited XXXX delivery under urgent time pressure. - The freeze has also prevented me from making a required payment on my Wells Fargo credit card, because I no longer have access to checks or autopay from my Wells Fargo checking account. I must now wait for physical checks from my new banking relationship to arrive before I can mail a payment, which puts me at risk of becoming delinquent on a Wells Fargo credit product solely because Wells Fargo froze my only checking account. This situation has now occurred twice, and the second freeze has been ongoing since XX/XX/XXXX. I initiated an Executive Office escalation on XX/XX/XXXX, but the harm is continuing and unresolved. The ongoing nature of the freeze continues to create new financial risks and obligations that I can not reasonably avoid. I have not yet been able to confirm whether Wells Fargo has reported me to XXXX or XXXX XXXX XXXX but given the repeated wrongful closures and fraud coding, I am concerned that negative reporting may have occurred. I am requesting confirmation and removal of any such reporting if it exists. Wells Fargos errors include : 1. Issuing promotional checks tied to an account number they had already replaced 2. Wrongfully freezing and closing my account the first time 3. Reopening the account, then freezing and closing it again without new evidence 4. Improperly reversing posted ACH credits, in violation of Regulation E 5. Causing returned payments, rejected deposits, and significant financial harm 6. Creating a negative balance due to their own operational mistakes 7. Causing late mortgage and secondmortgage payments due to the account freeze and inability to access funds 8. Exposing me to the risk of losing a {$500000.00} lifeinsurance policy due to their actions 9. Preventing me from making a required payment on my Wells Fargo credit card 10. Providing contradictory explanations and denying any further escalation, preventing a fair review 11. Demonstrating a pattern of internal control failures and inconsistent decisionmaking Wells Fargos repeated actions appear to constitute an unfair practice under CFPB and FTC standards. Their conduct caused substantial injury, was not reasonably avoidable, and provided no countervailing consumer benefit. I am requesting : - Immediate correction and unfreezing of my account - Restoration of all improperly reversed ACH credits - Confirmation and removal of any negative reporting to XXXX or XXXX XXXX XXXX - A full investigation into Wells Fargos repeated operational failures and the resulting financial harm Wells Fargos repeated actions have caused substantial financial disruption, reputational damage, and stress. I am seeking CFPB assistance to ensure this matter is resolved and to prevent further harm.

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