Consumer complaint received 2025-04-11 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Personal line of credit
Issue: Problem with the payoff process at the end of the loan — 
Company: WELLS FARGO & COMPANY
State: CA

Complaint narrative:
On XX/XX/year> I contacted a Wells Fargo online banker and asked what is the payoff amount on a Personal Line of Credit in my name. The online Banker quoted the payoff total on the outstanding balance on loan {$2600.00} plus {$41.00} in interest totals {$2600.00}. On XX/XX/year>, I paid off the Personal Line of Credit Loan of {$2600.00} from my checking account. On XX/XX/year> Wells Fargo informed me the online banker gave me was wrong and that {$41.00} is identified on XX/XX/year> statement as {$41.00} Advances/Other Activity which hasnt before or up to now been identified. On the XX/XX/year> statement Wells Fargo calculated a new interest charge of {$41.00} and a new balance on the loan of {$41.00} and it is due XX/XX/year>. On the XX/XX/year> statement Wells Fargo did a credit balance refund back to my checking. The XX/XX/year> statement states the post and transaction date interest charged as XX/XX/year> is {$41.00} on advances. On XX/XX/year> I called Wells Fargo to find out what the new interest charge is and informed I owed Wells Fargo in an interest payment of {$41.00} on the paid off loan and it was due XX/XX/year>. I was told the interest started to accrue on XX/XX/year>, however, I had paid off the loan so how can there be interest charged to a XXXX  balanced account. I asked why the online banker quoted me the incorrect interest amount and received no answer. On XX/XX/year>, I paid Wells Fargo the {$41.00} in a new interest balance due by XX/XX/year>. However, on XX/XX/year> Wells Fargo decided to refund the {$41.00} back to me. I did not ask or request Wells Fargo to refund the interest payment of {$41.00} back to me at any time. The XX/XX/year> statement stated I owed {$41.00} interest in payment due XX/XX/year>. I knew, wholeheartedly, that I owed that {$41.00} to Wells Fargo and I explained that I would not accept the {$41.00} back under no circumstances. My checking account reflected a debit of the {$41.00} and the Personal Line of Credit account with my name registered {$41.00} as a valid payment. I called multiple times to demand Wells Fargo correct the error on their books and stop making their fraudulent financial action of refunding the interest payment of {$41.00} on a loan I already paid off and further fraudulently identifying it on my XX/XX/year> statement as INTEREST ADJ-ADVANCE REFUND. This is totally bad banking and wrong in many ways. On XX/XX/year>, I check my account and thought all was well because the statement stated there was no amount due on the account and I had submitted my payment on time. But this is when Wells Fargo began getting sneaky and scary. 
On XX/XX/year>, I check my account and the amount I submitted as an interest payment had been reduced to {$41.00} and now {$0.00} is interest charged on advances. The XX/XX/XXXX statement reflects that on XX/XX/year> Wells Fargo is not only attempting to refund the - {$41.00} in interest on an already paid off loan but they have created a new credit balance on the Personal Line of Credit that is in my name. And the accounts new credit balance is- {$41.00} with a payment due date XX/XX/year> but under that line it says No Payment Due. Ive called to find out during what time frame did the {$0.00} accrue and what was the balance on the account but no one has been able to provide that answer. On XX/XX/year>, I paid {$0.00} to cover the interest charge on advances due XX/XX/year>. But most of all I paid Wells Fargo the - {$41.00} they stated I owe them on my XX/XX/year> statement. The payment of {$0.00} and {$41.00} show up as debits on my checking account and reflect as payments on the Personal Line of Credit in my name.

The Personal Line of Credit at Wells Fargo with my name on it reflect a credit balance of {$82.00} and the next statement date is XX/XX/year>. Wells Fargo needs to correct their accounts and realize that I am not going to accept what they are attempting to do to me. I appreciated the loan received through Wells Fargos the Personal Line of Credit account, but it is time to recognize and acknowledge that I paid the loan principle of {$2600.00} and I still owe {$41.00} in interest to pay off my Personal Line of Credit loan in total of {$2600.00} and take the loan statement balance to {$0.00}. Then I will be out of indebtedness and I wont owe Wells Fargo anything and Wells Fargo doesnt me anything.

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 non-monetary relief