Consumer complaint received 2025-09-07 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
In XX/XX/XXXX I applied for the XXXX loan for my business XXXX XXXXXXXX XXXX XXXX I've been in business for 5 years now. In XX/XX/XXXX I received two U.S. Treasury checks for the XXXX loan. The first check was for {$37000.00}. The second check was for {$57000.00} bringing the total to {$95000.00}. The following week a took the checks to Wells Fargo who I had been banking with for seven years. I've never had any issues with Wells Fargo. I had a personal account with Wells Fargo for seven years. I did not have a business bank account with Wells Fargo. But I did have my EIN number and my Articles of Organization or my LLC forms from the state of Georgia. So on XX/XX/XXXX I opened up my business account XXXX XXXX XXXX at Wells Fargo Bank in XXXX Georgia. Everything went okay. I brought all my forms and documentation and my business account was opened. I went home. Late one night I was up making plans and I checked my Wells Fargo bank account. Wells Fargo sent me a message saying they were closing my account by XX/XX/XXXX. At first I didn't get alarmed and thought this must be a simple mistake. So the next morning I went to the bank to find out was going on. I told the teller the name of my small business and I brought all my documentation and forms to prove it. The Bank representative made a few calls and talked to a few people. The rep then told me that the reason my account was closed was Unopened up a business account after the checks were issued. She said I should have already had my business account opened. I explained to her that I'm a small businesses and I don't have a mentor. I'm learning everything as I go. So the reps gave me a few numbers to call to see about rectifying the problem. The reps also told me that Wells Fargo that it's nothing to worry about. Wells Fargo said the bank would hold my funds for XXXX days with the Fraud Department . They told me after 30-60 days my funds would be released back to me. I believed the rep and thought this was true. So I came back with receipts, my EIN number, my Articles of Organization and photos of me washing cars. Nothing happened. So Wells Fargo said it was out of their hands and instructed me to call Wells Fargo Fraud Department. I immediately called the fraud department for a full year. I was insulted, treated like a criminal, made fun of, disrespected and led to everytime. I was calling to only find out what to do. I was never hostile, angry or screaming at the reps. The Wells Fraud Department was very unprofessional. One rep told me " Why didn't you open up a business bank account? '' " Don't you know You can't walk into a bank with that amount of money? '' And the Wells Fargo representative said this with much disdain in her voice and very disrespectful. I didn't even respond to her. Because starting and maintaining a business alone can be dauting. But things became very frustrating for me after a full year of speaking to the Fraud Department. Wells Fargo lied to me about everything. Wells Fargo gave me the runarounds. I literally called Wells Fargo Fraud Department every week for one full year. Sometimes three times in one week trying to quickly resolve the issue. Wells Fargo lied to me again and told me they didn't have my funds. They said my funds were with the Claims Department. Wells Fargo gave me the Claims number to call claims. So I spoke with a nice woman in the Claims Department. The woman education me on how claims work and she told me they don't even have my name on file. So another year passes. It's now XX/XX/XXXX. Now the IRS is sending me notices in the mail saying that I owe them {$95000.00}. Money that I never seen, spent or touch. So I speak to a Lawyer friend of mines and she that same year. She explained to me that Wells Fargo still has my funds that's why the IRS is sending you notices in the mail about payment. That's the only legal advice I was given. Can someone please help me rectify this problem. The only thing I did wrong was not have a business bank account opened. I had all my legal documentation that proved I had my business since XX/XX/XXXX. I'm still detailing cars and in business today XXXX. Please help me.

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