Consumer complaint received 2026-07-20 00:00:00
Product: Money transfer, virtual currency, or money service — Check cashing service
Issue: Problem with customer service — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
b"Andrii Bondarevskyi\nManaged Distributions, Inc\n8561 XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX-XXXXConsumer Financial Protection Bureau (CFPB)\n\nSubject: Formal Complaint Against Wells Fargo for Wrongfully Withholding Merchant Funds\n\nDear Consumer Financial Protection Bureau,\n\nI am submitting this formal complaint against Wells Fargo regarding the closure of my XXXX XXXX Account and the wrongful withholding of XXXX belonging to my business.\n\nI am requesting that the Consumer Financial Protection Bureau, the federal government agency responsible for regulating and enforcing federal consumer financial protection laws, investigate Wells Fargo's conduct and take appropriate action regarding its handling of my merchant account and business funds.\n\nWells Fargo closed my merchant account and placed a hold on a total balance of XXXX. These funds represent legitimate customer payments for catering services that I completed.\n\nI provided Wells Fargo with invoices and documentation proving that these transactions were legitimate. Specifically, I submitted an invoice for XXXX as proof of catering services rendered. In addition, there was an approved charge of XXXX, but Clover later withdrew those funds from my Wells Fargo business checking account. As a result, Wells Fargo continues to withhold a total of XXXX that rightfully belongs to my business. Despite receiving all requested documentation, Wells Fargo has continued to hold my funds without providing a valid explanation or releasing the money.\n\nI have made every effort to resolve this matter directly with Wells Fargo. I repeatedly called, left voicemail messages, and sent multiple emails to Kimberly Perry, who works in the Merchant Services Special Department and is responsible for handling my case. Unfortunately, she has never returned my calls, responded to my voicemail messages, or replied to any of my emails. Wells Fargo has failed to communicate with me or provide any meaningful explanation regarding the status of my funds.\n\nThe bank's actions have caused severe financial hardship to my business. By withholding these legitimate business funds, Wells Fargo has disrupted my business operations, damaged my reputation with my customers, and placed my livelihood at serious risk. I believe Wells Fargo's conduct is unfair, unreasonable, and inconsistent with its obligation to deal with customers in good faith.\n\nI respectfully request that the Consumer Financial Protection Bureau investigate Wells Fargo's actions and require the bank to:\n\nImmediately release the withheld funds of XXXX to my Wells Fargo business checking account; or\nIf Wells Fargo refuses to release the funds, immediately refund my customers whose payments are currently being withheld; and\nProvide a written explanation identifying the legal and contractual basis for withholding my funds.\n\nIf Wells Fargo continues to refuse to release my funds or refund my customers, I respectfully request that the Consumer Financial Protection Bureau, as the federal government regulatory agency responsible for protecting consumers from unfair financial practices, investigate Wells Fargo's actions, determine whether the bank has violated federal consumer financial protection laws, and take any enforcement action that it deems appropriate.\n\nI have attached supporting documentation, including invoices, proof of completed catering services, merchant account records, bank statements, and copies of my email correspondence with Wells Fargo. These documents demonstrate that the transactions are legitimate and that I have fully cooperated with every request for information.\n\nI respectfully request your prompt assistance in resolving this matter. My business depends on these funds, and Wells Fargo's continued refusal to release them is causing significant financial harm. I appreciate your attention to this complaint and respectfully ask your office to protect my rights as a consumer and small business owner under applicable federal law.\n\nThank you for your time and consideration.\n\nSincerely,\XXXX XXXX

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