Consumer complaint received 2025-09-12 00:00:00
Product: Checking or savings account — CD (Certificate of Deposit)
Issue: Closing an account — Funds not received from closed account
Company: WELLS FARGO & COMPANY
State: MT

Complaint narrative:
On XX/XX/year> I had a {$27000.00} Certificate of Deposit mature at Wells Fargo Bank. I requested that the CD not be rolled over and that the funds be deposited into my checking account with Wells Fargo Bank. I was told that it would take two days to process my request. I see no reason why it would take up to two days to process the request. Furthermore, I have had checks presented against my checking account for payment that required me to borrow funds from Wells Fargo Bank to cover such checks. It seems unfair that I have to borrow funds from Wells Fargo Bank when in fact they had my {$27000.00}. 

I called the bank on XX/XX/scrub>XXXX XXXX XXXX  and the proceeds from the XXXX were not deposited to my checking account. I was then told that the day I made the request didnt count. So in reality they need three days to process the request. While XXXX, the customer service representative, was polite she couldnt solve the issue. I requested that I be transferred to a higher authority. 

My call was then transferred to XXXX XXXX. She was unsympathetic and not helpful. I then asked to file a complaint with Well Fargo Bank. I was given the following complain number by the bank XXXX. I was told that it would be two days before I received the complaint. 


On Friday, XX/XX/year> I checked again and the proceeds of my {$27000.00} was still not deposited. I again called the customer service department and spent over an hour attempting to resolve the issue. Again the bank representative was polite, acknowledged the things I had done, confirmed that the item should have been processed and indicated that perhaps there was a backlog. The representative had no authority to solve the problem, did not know who to contact to find a solution and could offer no suggestions as to who I could talk to or what she could do further to resolve this issue. Her only solution was to continue to wait. 

This delay created by Wells Fargo Bank only benefits Wells Fargo Bank. They continue to have {$27000.00} of my funds that are now interest free. If the bank had use of my funds for additional days, the yield quoted to me when I purchase the Certificate of Deposit isnt accurate. I believe this is a violation of Federal Banking Regulations and law. In addition, they are charging me interest on funds that I have had to borrow to cover checks that are being presented against my account. Lastly, I have spent over 4 hours attempting to resolve this issue with no end in sight. My time is valuable also. 

I find it ironic, that had I left some of the funds open in the Certificate of Deposit the remaining balance I was told the funds would have been deposited immediately to my checking account. Yet, when I request the entire amount, the funds are held by the bank for processing. I feel that this is a deceptive and predatory practice by the bank to quote yields that are misstated and to generate additional fees for the banks benefit. Wells Fargo Bank has a well know history of misleading practices including fake accounts, foreign trade transactions and insurance and automotive lending. The issue I am experiencing just adds to that list. 

As of this writing, the bank still has my money and has offered no solution to resolve this issue. I feel I should be compensated to my time, compensated for the money they continue to hold, refund of any interest and fees generated by the bank as a result of their negligence.

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