Consumer complaint received 2025-12-02 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Funds not handled or disbursed as instructed
Company: WELLS FARGO & COMPANY
State: NC

Complaint narrative:
XXXX : At approximately XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXX/XX/year>, my husband, XXXX XXXX XXXX XXXX, and I discovered that {$3100.00} had been fraudulently removed from our XXXX account. 
XXXX : The money had been shunted around our XXXX checking accounts, before transferring to pay a XXXX XXXX XXXX XXXX XXXX XXXXXXXX ) that neither of us have, and we most certainly did not authorize anyone else to make any such a payment. 
XXXX : At approximately XXXX XXXX XXXX XXXX XXXXXXXX the payment was shown as pending and we immediately rang the Wells Fargo Fraud line to stop the payment completing, which was successful. Wells Fargo has never addressed this in any of its investigations into this fraud. If we were perpetuating such a deception, why would we go through the approved procedure of prevention? 
XXXX : However, when we went into the local Wells Fargo branch in XXXX, NC, the following morning to close the hacked accounts and open new ones, we were told that although the initial pending fraudulent payment was stopped, the hackers had returned, and a second fraudulent payment was completed successfully. 
XXXX : Needless to say, we were somewhat shocked that our report of the fraud/hacking had, apparently, been ignored by Wells Fargo XXXX 
XXXX : The branch 's staff helped us make a report of our stolen money ( Reference XXXX ) on the morning of XX/XX/year>. 
XXXX : We rang the XXXX Bank XXXX XXXX XXXX to verify that they had not issued credit cards with our names, or Social Security numbers, either with or without our approval. They confirmed that no such accounts exist. 
XXXX : We subsequently received a letter dated XX/XX/year>, claiming that our claim was denied as Wells Fargo was unable to identify any indicators of fraudulent activity. We remain puzzled at the reference in this letter to a sum of {>= $1,000,000}, when the sum stolen from us is {$3.00}, XXXX, and this is the amount that we are seeking returned. 
XXXX : We returned to the XXXX Wells Fargo branch, and again, the helpful staff made representations on our behalf to other sections of the Wells Fargo XXXX to escalate further investigation. We were told that we would receive an email, and a telephone call within XXXX hours. 
XXXX : We fail to understand this given the circumstances of our timely report of the theft to Wells Fargo, Wells Fargo then allowed it to take place, and consequently XXXX XXXX  is effectively in receipt of stolen goods. 
XXXX : After speaking with XXXX XXXX, the Escalations Representative, on XX/XX/year>, we felt we were making progress on resolution of this claim and wanted to give Wells Fargo the opportunity to come to the correct decision. This was the first time either of us had heard the name of XXXX XXXX. Neither of us know a person by that name and neither of us have authorized any bill-pay on a credit card in their name. 
XXXX : XXXX, why would we contact the fraud line if this was an authorized payment? We have been told that someone ( who was not us ) had canceled our arrangement for paper statements via mail. 
XXXX : We have also been struck by Wells Fargos tactics of taking the default position that it is we who are conducting a fraud, implying that XXXX of us had authorized the transaction without telling the other. 
XXXX : Has Wells Fargo confirmed the transaction was authorized with XXXX XXXX? Presumably the fraud investigators have access to this individuals contact details as we certainly do not. 
XXXX : Wells Fargo alleges that the transaction in question on XXXX was authenticated by a one-time passcode sent to my phone number. During a phone call on XXXX I was directed to a page in the documentation provided by Wells Fargo allegedly supporting its contention that the fraud on our bank accounts was authorized. 
XXXX : I attach a scan of the relevant page. I did not have the two-step verification for access to online bank accounts set up on XXXX, and therefore such a process could not be used for authentication on this date. I established it once I had resumed online access on the new accounts we requested after the theft. The previous online access was removed on XXXX when I rang the Wells Fargo fraud line to alert them of the illegal activity I had discovered. 
XXXX : Wells Fargos own evidence shows that no one-time passcode was issued to my phone number on XXXX as at that time it was not active on our account and therefore not possible. The accounts were hacked when the fraudster hit on the correct combination of username and password, probably using a computer program that generates combinations of characters, numerals, letters, etc. 
XXXX : Wells Fargo has provided the name of the fraudster, XXXX XXXX, a person who is not known to us. Who is he, and why is Wells Fargo not pursuing him in this matter? As noted Wells Fargo is acting as if it is we who are committing fraud, despite our timely report of the theft to the banks approved section. 
XXXX : In an email dated XXXX we were informed that although Wells Fargo was notified of the pending fraudulent transaction of {$3100.00} it was not possible to prevent the hacker from stealing our money. However, the email also states We also confirmed that there was another payment in the amount of {$3100.00}. We confirmed that this payment was cancelled. 
XXXX : This is a clear admission that Wells Fargo admits that the hacker was still trying to steal money from our accounts after we had reported the fraudulent pending transaction. Why is Wells Fargo not investigating where the thief was trying to send that {$3.00}, XXXX? Why is Wells Fargo not acknowledging our timely report of the fraud when they did act to block the second attempt? 
XXXX : Wells Fargos data, as provided, shows there was a password change on XXXX, to use on the new accounts we set up when we reported the theft to our local Wells Fargo branch on XXXX. After that, it is possible to track the issue of one-time pass codes to facilitate online access. 
XXXX : During the phone call on XXXX the representative, in a clear attempt to offload me as they had no real answers to the obvious questions above, and after I had pointed out the discrepancies in Wells Fargos evidence, put me through to the fraud department. The representative there said that the matter was in the hands of the XXXX XXXX and they could not help me. 
XXXX : How Wells Fargo has concluded, from their own records, that the fraud reported to them on XXXX was an authorized transaction is beyond me when the banks own evidence in no way supports this conclusion. It is time for Wells Fargo to admit the reality of the matter and refund our stolen money, {$3100.00}.

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