Consumer complaint received 2023-06-05 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: WELLS FARGO & COMPANY
State: GA

Complaint narrative:
On XX/XX/23, I walked into a WF branch and asked for my HELOC balance payoff amount - without closing the account. The teller told me that amount would be {$29000.00}. I paid that amount via a check from my XXXX checking account. WF cleared that check with XXXX the same business day of XX/XX/23. I saw the amount withdrawn from my XXXX  account the same day but NOT reflected on my WF HELOC account. 

On XX/XX/23, my HELOC balance was not updated so I called the WF Home Equity Specialty Services XXXX XXXX to inquire why my HELOC balance wasn't {$0.00}. The woman told me that there's a 5-day hold on my check. I asked her why that was the case when the money has already been taken out of my XXXX account. She said that was their policy. 

On XX/XX/23, I had the same issue and called the same department and was told the hold is for 5 business days. I called on XX/XX/XXXX with the same issue and was told the hold is for 7 business days. On each occasion that I called, I asked why WF would not credit my HELOC account when they've already taken the money out of my XXXX  account and was told that's their policy. No further information was given. It also looked like they had overcharged me {$25.00} for the payoff amount. 

I called on XX/XX/XXXX with the same issue and was told the hold is for 10 business days. I became even more frustrated and upset and requested to speak with a supervisor because I'm given different non-explanatory information, each time I call and WF is basically holding XXXX XXXX of my money and granting me no access to it. I was speaking with XXXX ( ID # XXXX ) and told him I would file a complaint with the CFPB because of their deceptive practices. 

XXXX put me on hold and came back to say my check wasn't released yet due to WF Fraud protection algorithm that put a hold on my check. Again, I explained that this doesn't make sense to me because WF cleared the check the day I deposited it and demanded that they credit my HELOC account appropriately. XXXX said that they couldn't do that without me providing evidence that my check had been cleared from my XXXX account. Because I'm familiar with bank payment processes, I told XXXX that WF already has the proof and they he could look that information up electronically from his laptop while we're on the phone. XXXX refused to do so. I also told him that it looks like WF had overstated my payoff amount by {$25.00} and he said that I needed to take that up with the bank teller that gave me that information. 

To have my HELOC balance fully credited with my XXXX  check, I had to send XXXX XXXX of WF a copy of the check deposit infomation from my XXXX  account as verification of the check 's clearance. The next day, my HELOC account had a balance of - {$25.00}. 

Today is XX/XX/XXXX and my HELOC balance is- {$25.00}. WF has yet to refund me the money I'm owed.

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