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Wells Fargo Bank: Fraud and Scams -- They Won't Help Protect My Account
Posted by on
ST. PAUL, MINNESOTA -- This is a post about Wells Fargo Bank... and my experience and opinions about how they are NOT helping me prevent fraud on my account. I have to admit that I am just amazed that I can NOT get better customer service from Wells Fargo.

Here's is my story. I live in the Midwest for a while. I chose Wells Fargo as my bank. But, I moved to the East Coast in December, where there are no Wells Fargo Banks. I went into my local Wells Fargo Bank in St. Paul, Minnesota (at the corner of Grand and Fairview avenues) to close ALL ACCOUNTS. I met with a personal banker who explained to me my options for taking my money. I chose to transfer money to another banks account. He quickly worked at the computer to handle my accounts. He assured me everything was taken care of.

Well.... here's the real fraud/scam. One month and 3 days later, I received an email from Wells Fargo telling my my accounts have an overdraft. LOL I really thought the email was a fraud. After checking more, it was not. Wells Fargo DID NOT CLOSE MY ACCOUNTS AS I HAD REQUESTED. They did transfer my money... so they know I was in the bank that day. The ALSO ALLOWED this charge on an account that was at a zero balance and supposed to be closed.

I called customer service. THAT WAS A DISASTER. The first representative said she couldn't help me because I didn't have my account or check card number (well my check card was supposed to have been destroyed by the banker in St. Paul... that same card that was apparently used for the charge in January). I explained to her that I had no card... and I started digging through personal files for an account number for an account I closed on Dec 12. After explaining my situation, I was met with no real help. I was told I could dispute the charges. Fine. It was as if they representative thought I was telling a lie about closing the account. By the way... who zeros both checking and savings in one bank visit but keeps the accounts open? It's not logical. She was firm... there was nothing she could do. I asked for her supervisor who got on phone with the pre-determined attitude that I was wrong. I explained my situation. He was dismissive. I grew frustrated as a consumer who feels Wells Fargo would do nothing to freeze this account so as ti stop any other fraudulent charges. There was nothing he could do. It was as if he were reading a script only (I know that's what they do). But... c'mon. Think. Listen to the consumer. As a customer who left Wells Fargo, they should WANT ME BACK instead of treating my like I was a liar when calling to report fraud. THIS EXPERIENCE WITH WELLS FARGO IS THE SINGLE WORST BANKING EXPERIENCE I HAVE EVER HAD. I asked him for his supervisors name/number as well as the manager's name/number for the bank on Grand & Fairview avenues in St. Paul, MN. He was clearly dismissive and angry.... that he was having to deal with a frustrated consumer worried about fraud on his account.

I have called every number I can find. I have emailed Wells Fargo. I have no answers. I have no support from Wells Fargo to stop this fraudulent activity. As a consumer, I feel like Wells Fargo is allowing fraud on my account by not freezing it.... and treating me as if I am the bad guy. I WAS THE ONE WHO CLOSED MY ACCOUNTS (or was told by a personal banker it was) IN ST. PAUL. I asked the supervisor for email and phone number of where I could file a complaint with Wells Fargo. He said there was only a mailing address. In this internet era, Wells Fargo only has a mailing address for complaints? LOL. That's customer service for you. "We want your money... we just don't want to hear when you are unhappy with our customer service."

MESSAGE TO WELLS FARGO: Please CLOSE all of my accounts as YOUR banker told me was done on Dec 12 in St. Paul. Please don't allow someone... or some company to continue to fraudulently charge to my accounts! PLEASE HELP. If you ever wanted me back as a customer, this is NOT the way to do it! I just want my accounts closed as your bank said he did on Dec. 12.

MESSAGE TO MEDIA OUTLETS: If you want to contact take me about being a part of any story about Wells Fargo... especially if it's a bad customer service or fraud issue, please email me at Jefftracker@gmail.com.

[snip - full names prohibited]

Here is the 'mailing address' that Mark provided to me for complaints (the ONLY WAY to register a complaint about customer service to Wells Fargo
PO Box 6995
Portland, OR 97228-6995

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aumsville on 04/17/2009:
Hi, My name is Ana, Wellsfargo just did the SAME THING TO ME, well kind of, my husband and I went to close our checking account because we were filing bankruptcy, well after we had "closed our account" the wellsfargo loan department slipped through the account an amount equal to our second mortgage and overdrew our account. They ended up reporting us to the chexsystem, which is nothing but a version of a credit bureau where banks that belong to them can tell if someone knows how to handle a checking account...Well long story short, they sent us to the chexsystem without legal reason. Wellsfargo is terrible, I am looking for an attorney to try to get a class action lawsuit against them, THEY ARE THIEVES!!!, they steal money from people like you and I...I have found thousands of complaints of this nature about wellsfargo, they need to be shut down!!! Contact me if you are interested in joining the cause, I really think we must do something so that people like you or me cannot continue to get abused by them. BY the way, after they report you to chexsystem, NO OTHER BANK WILL OPEN A CHECKING ACCOUNT FOR YOU IN 5 YEARS!!!, can you imagine not being able to open a checking account with anyone else? And all because of their incompetence. Luckily, I have a checking and savings account with a credit union, so, I will not suffer from this...Can you imagine if they do this to someone else who needs to go and open another checking account?? What a joke. Please contact me if you are interested, aumsville2006@yahoo.com, Thanks,

tander on 04/17/2009:
What are the charges that are occurring on your account? Is someone using your card?
ryno75 on 02/09/2010:
you're an idiot for not taking the cash in hand and a closed account slip...
Anonymous on 02/09/2010:
When you close an account, at any bank, if a transaction is posted within a certain time period (commonly 30 days), it will cause the account to change back to open status. I guess th epresumption is that because you didn't turn off automatic debits, you want them to post. This one is all on you, and would have happened anywhere.
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False Foreclosure
Posted by on
SEATTLE, WASHINGTON -- Recently I read an article about Wells holding a check for processing and then proceeding to enact a forclosure because of no payment. The call in that article was for a class action suit against Wells Fargo, and should an attorney take that call, I want to be on board.

Not only does Wells Fargo have the worst customer service in the financial industry in my opinion, the mortgage department is particularly contemptible. The mortgage department is in an office on the East Coast, one is never able to speak to the same person twice, and everyone has a different answer for the same question.

I've lived in my home for ten years. In 2006, due to extenuating circumstances (a death in the family, a disability, job change) I fell behind in my mortgage. I contacted Wells Mortgage Dept. (one can't go in to a local Wells Fargo and sit down and speak with someone) and told the rep of my difficult situation. I was told by the Wells rep that they would put me on an extension, NOT to pay anything for a month, and then pay $50 more on my payment on a date the rep specified. I understood that the payment would go on the end of the loan and my payment would go up by a small amount.

When I changed jobs and got a raise in pay, I again called Wells Fargo, because my paydates had changed and I wanted to pay my mortgage on a different date than was specified. Wells Fargo said, "don't pay anything for another month, then pay $20 more on this date." I missed that date by one day because of my payroll(I was new and didn't know that payroll would fall two days after a holiday). I went in to a Wells Fargo to pay my mortgage payment and they refused to take it because they said my home was in foreclosure. I had no idea. The local Wells office called the Wells mortgage department in Minnesota or wherever..they were just closing, (we waited like I always have for 30 minutes or more,) and the mortgage department said there was nothing that they could do, that they were closing for the day. Twice I'd been told NOT to pay until a certain date, and I foolishly did that, not knowing that they were adding interest and late charges to my mortgage payment to the tune of over $8000.

My complaint is that Wells Fargo didn't provide full disclosure, that the time I spent on the phone attempting to get answers and resolution equated to a two week paid vacation, and that I was inaccurately, in my opinion,charged $8,000+ which is what Wells determined I owed on late mortgage payments.

On my part, I truly didn't understand what Wells had been proposing, or I never would have waited to make my payments. I have a good job and could have made the payments on time. I thought Wells was re-writng the loan agreement, putting the one month I was late on the end of the term, and simply raising the payment I contacted the OCC (Office of Currency Controller) and the State Attorney General office of Wa. with a complaint about Wells Fargo and their practices to no avail. I also wrote to the President of Wells Fargo and got no response. It takes an enormous amount of energy and time to fight a corporation like Wells Fargo. If an attorney or Senator contacted Wells perhaps they would take notice, but not a complaint from a homeowner.

As we watch other large banks and mortgage companies sustain losses,(Washington Mutual and Countrywide for example)I can only hope that an attorney will eventually take a look at the countless complaints against Wells Fargo and do something about the ineptitude, poor customer service and misleading practices that in certain cases are causing unnecessary forclosesures and banruptcies.
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Anonymous on 01/27/2008:
And you didn't think to get any of the agreements you thought you were making in writing? Pity.
cycolbur on 01/27/2008:
To save your home I would file ch 13 immediately. I know it sounds bad but it would give you the time to fix this without losing your home. The real catch is they cannot even post it on your credit report if the payments are late during this time. good luck
wellsfraud2 on 02/19/2008:
robf...you must work for wellsfargo, n'cest pas? Because that's the kind of callous, cavalier attitude that they have.
Of course I got the agreements in writing, however, I didn't take the time nor spend the money on an attorney at the time to review them (yes, I sure should have) because I was in the middle of taking care of my Dad who was in hospice. Since I was on L & I at the time, and travelling back and forth 300 miles every other week, in hindsight, I perhaps I should have been more responsible. I guess I was just a little preoccupied with the fact that my Father, my only living parent, was nearing death.
Each time I contacted wells,I was on hold for over an hour, (I documented that) I was told a different story by a different person about each agreement.
Because I didn't have a clear understanding, I should have taken it to an attorney. It's too bad the terms weren't clear and that I couldn't take it DIRECTLY to someone in person if I didn't quite understand the terms, but that's an impossibility with wells since they are owned by a corp. conglomorate who don't know who their customers are nor do they care.
I did write to the OCC, the State Att. General and the President of Wells Fargo...the president of wells,of course, declined to answer. So don't be so smug, mr robf ...and you can keep your pity.
fdmsboy on 02/20/2008:
Hmmm....Wells Fargo is a mess. I walked in there one Mortgage Center to visit a friend who worked there and there was loans in the entrance and hall in carts and all over. I moved my mortgage when I saw that.
mortgageFRAUDwlsfargo on 04/07/2008:
Searching for an Attorney or anyone interested in joining a class action suit against Wells Fargo to present to an Attorney with enough guts to take on the case.

Today I received a letter from Wells Fargo dated April 2, 2008. It was a Forebearance Agreement that I am supposed to sign for the next 4months. 3payments of $488.17 an then 4th payment is for $3,375.97. With no "grace period. OK, so I called Wells Fargo an received the Borrower's Counseling Services. Got referred because I questioned the previous letter that I received stating that $1200.00 would be returned back to me if my QUOTE "Loan Modification" was not approved this initial payment will be returned to me. According to verbal conversation this Forbearance Agreement is not a Loan Modification so my $1200.00 will neither be denied or approved so they do not need to send me my $1200.00. An since I don't have any money to move or the $3,375.97 up front I more or less need to wait an see if Wells Fargo's Verbal agreement of rolling back that $3,375.97 into my Loan in August 2008 us a legit statement from them. With paying $488 each month I won't money to move if it does come to that me an the rest of my family, my son, daughter, mother and brother will LITERALLY be on the streets. To make matters even more bizarre. I was originally on a repayment plan of $517.00 a month. Starting January 2007. I had not received anything from Wells Fargo until April 2007, a monthly statement from them stating I owed $492.00 then again in June $472 an July $472 all of which I paid not even a few days after July's payment I received a notice I was in foreclosure status. The difference in this mistake was $77.00 for those 3months. Apparently Accrued almost $700 in late fees and guess what they wanted all that money upfront. Nothing less. I've been told to hold my payments for Loan Modifications this is the 4th in the mean time the late fees and late payments keep adding up & an up. Tell me this is not a scam. I've said from the beginning they are trying to force me out of my house. Think of it this way. Even if I had the money to pay. That is over $5,000 dollars that they would be able to make off of me. Including profit from interest on my normal mortgage payments. I have read over 20 complaints from consumers who getting continuously ripped off from Wells Fargo not just with Mortgages. This is company is huge an nobody is able or willing to take it on. We NEED TO GET TOGETHER. My town is growing fast. Guess who is a major contributor to everything here. Wells Fargo. Land, Board Walk, Theater, Schools, HOMES. Help. They are taking from pions like me an succeeding on my hard work an what should be my time to enjoy my children and my family.
Harrellpn on 09/07/2008:
An attorney has agreed to look into Wells Fargo Mortgage contact him Miles Brasch his email is MEB101331@AOL.COM Anyone who has a MORTGAGE RELATED Issue please contact him ASAP make Wells Fargo responsible for the pain and suffering they have put upon the average American \
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My attorney says "illegal foreclosure"
Posted by on
Desperately seeking class action lawsuit.

I was assisting my niece, who is recently divorced, going back to school to get a teaching degree and raising two children. She was 40-50 days late with her mortgage payment on a house that I co-owned with her. She spoke with someone there and immediately sent the requested amount to get the account up to date. Unbeknown to her, the check was in the process of being held by WF for 2 and a half weeks, mailed back with a postmark of December 24th (Merry Christmas Lady!!) telling her that because the funds were not certified the house was in foreclosure. She received the letter from them after I became involved when my banker contacted me about a credit rating drop. After being notified by the back (and still not knowing that they were in the process of returning the check as it had not arrived in the mail) I promptly called Wells Fargo and was told that she was a little late and that a check was sent and everything was now fine. I requested the ability to view the account on-line, promptly went to the computer and was unable to access the account. I called WF back within 12 hours or the "everything is fine" conversation only to be told the house was in foreclosure. Over the next few days my conversations with Wells Fargo were so bizarre that I felt the need to contact an attorney.

I became diligent over the next few days to make sure that everything was happening as it should and the house is not longer in foreclosure. I have retaliated against WF by paying off my personal mortgage after their possessing it for only 3 months and therefore depriving them of interest from me. I know that others are not in a position to do this.
My concerns are that:

WF appears to want to cause foreclosure,
WF appears to be deceptive: the check sent by my niece was never sent to her bank and I have verified that she had the funds in her account. Why would a company send back a perfectly good check, (and on Christmas Eve, thus further delay my niece finding out that the check was not accepted.)and simultaneously turn someone over. Former presidents of banks have told me this sounds like a setup.

Word of advice:

1) if a Wells Fargo Rep tells you "everything will be fine" BEWARE and double check by re-calling the 1-800 number to be sure that you are being given consistent information.
2) IF they tell you to send a check, ask them what kind. They do not volunteer that information and appear to use it against you.
3) try to check what they are telling you by phone on the account on the internet.
4) If you are in a co-owner situation and speak to a rep that trashes the other owner, the information that you are being given is not necessarily true. I was told my niece had ignored multiple attempts by them to contact her when obviously she had been speaking to someone and was taking steps to correct the problem.
5) Follow up, follow up, follow up. I strongly advise against being complacent after being told to "check back in a few weeks". You will be bit in the process.
Why would a company want to foreclose? Well in this case the house was practically paid for, and, what about those extra fees? One of the WF reps even said to her "the lawyers love these foreclosures because they make so much money".

I work in an office with only 13 employees and 4 of us have had our credit damaged because of WF tactics. The others have had no dealings with WF.
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Anonymous on 01/21/2008:
Was she told up front that WF would only accept a certified check to bring the mortgage current?
wellsfargofraud on 01/22/2008:
No, she was not. When I called to correct the situation, I was not either and found out by asking what kind of funds they wanted, as I was thinking of wiring it to them. In addition, when I called to get my pay off amount for my personal mortgage, the pay off amount expired as soon as they faxed it to me. Had I not become so cynical about this company and not been diligent enough to call back about the daily interest, that check would have floated around for a month and then been returned. I needed to pay extra to account for days spent going to my bank and getting a certified check, mailing the check and likely the 10 days they held that check before posting it on my account. I will be finding out soon. They are not supposed to charge me for days after the check was received but I would bet that they will.
My business partner had her own nightmare with this company. She had been paying with automatic payments for a few years. One month last fall WR claimed they did not receive it even though her own bank showed that they did. They ruined her credit on this one single transaction and would not correct it. I need to get her to post her story here, too.
wellsfargofraud on 01/28/2008:
update: We just received IJanuary 26th, 2008) a notice dated December (not January) 18th, 2007 in an envelope postmarked January (not December) 21st, 2008 as the official notification that this loan was being referred for foreclosure. Wells Fargo's practice of holding important documents (including payments) for over a month continues. If there is a foreclosure crisis, why is Wells Fargo aiding foreclosures?
freedom1 on 02/27/2008:
My roommate is going through the same thing. WF operators don't have authority to do anything but repeat themselves. They are not trained properly. They did not give him all the details as to how and what to do.
By time they had a plan in action to stop foreclosure,(fees; attorney fees; etc.) My roommate was directed to send over $6000. certified. Regular mail was OK. He did this on Feb. 16th. On Feb. 22nd. he receives letter dated. Feb.21st., stateing he must sign agreement and send cert. check back and they must receive it by the 22nd. He is reading this after work at 7:00 PM. I won't even get into the stress of calling and unquailified people he has to deal with. At 7:43PM the girl he is trying make progress with hangs up on him. (he stays clam and profession during his calls) He calls
back to hear a machine state they close at 8:00PM. It is 7:43. This type of assistence is going on day after day. One person stating one thing, only to be called by another and told something different. Forget about speaking with a supervisor. Now, he is back in Foreclosure and accuring fees again. Did you find any help? Do you know where we can look for help with this? Do you have any advise. He just stopped see phychiatrist. His wife left him. This is why he is in the mess. I hate to see it happen again.
freedom1 on 02/27/2008:
These untrained operators are rude and most likely paid min. wage.
The worst part is the role they play in peoples lives. They are actually ruining peoples lives, causing high stress which leads to many other problems. I would advise roommate to join your class action. The CEO needs to contact the company on this level. If they changed how customers are handled, they would not have as many foreclosures. This is write offs for them.
elmmj on 05/27/2008:
I've had a home loan with Wells Fargo (WF) for 2.5 years now, but it is serviced by America's Servicing Company (ASC) and not WF. However the tactics and lousy customer service are the same. I get letters requesting information dated (and posted marked ) three weeks prior to time I receive get them. The due date of the request is usually past and I have no one to talk to about it. I have been in an Adjustable loan now since July '07 and have desperately been trying to talk with someone about it but all I get is the same letter with the screwed up dates. Finally, I've let the mortgage payments lapse for two months (putting the money right into a savings account) hoping that someone will finally talk to me. Just today a man in a car pulled up in front of my house and started taking pictures. He said that he was taking pictures for WF to confirm that someone was living in the house. WTH!!! I don't want to foreclose but the mortgage interest is becoming too much to handle. I want to work it out but there seems to be no one listening on the other end.
Lost on 09/01/2013:
I owed WF for 4 months of mortgage payments I called them on aug 1 spoke with rep told him I would be making a payment at the end of the month. He told me that would be fine because loan was not in foreclosure and my loan would not roll out if his que til next month because I would be 5 months behind. He assured me as long as I got my payment in this month I would be fine. I told him I planned to send in 2 payments also next month to start to catch up. I went to bank to pay my mortgage payment on aug 30 and called to WF to get my account number the rep told me my loan had been referred to their attorney for foreclosure on aug 14. She said to not make the payment because it would be returned and now there was nothing they could do although they have record of me speaking to one of their reps in aug 1 telling me I would be fine. I called the number they gave me for their attorney and was advised they will send me a reinstatement amount in 7-10 business days. I'm so pissed I actually moved bills around because I was assured I was fine to pay on aug 30 if I knew that was untrue I would of not paid something to get it in sooner now I'm going to have to pay full past due including late fees and attorney fees. It's only been 2 weeks. I haven't received any certified letters saying I was even in foreclosure I just got the letter in the mail saying it was referred to their attorney. The supervisor there was no help. Is there anything I can due to avoid the attorney fees and late fees. Is there anything I can due to make them honor the conversation with their rep on aug 1. I'm so lost and afraid I'm now going to have to come up with a outraged amount of attorney fees although they only had my case for 2 weeks... I'm in Florida. Please help
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I Want My Money!!
Posted by on
ALBUQUERQUE, NEW MEXICO -- After losing my job in the summer of 2005 I really had no money and wasn't able to keep a substantial amount of money in my Bank of America checking account. After a few months of stress and literally eating whatever my friends and family could provide me, I found the job of my dreams and a new place to live. Just up the street from my new place is a Wells Fargo bank and with the little bit of money that I was able to get before my new job started I opened a new account. I was happy and things seemed to be okay.

In the next month or so my wallet was stolen and Wells Fargo was on the ball. If it weren't for them constantly calling my phone number I never would have known that my debit card was being used by some loser.

Things changed a few weeks later when I tried to use my card to order a pizza online but could not. I knew there was money in the account and I knew that my card was okay to use. But I didn't know that my account had been blocked because I owed money to Bank of America. Since I hadn't been using that account it seems fees were being added and I did not know that opening a new account at another bank would cause a later problem. My mistake.

In the meantime every dime I had made at work or any refunds from taxes were all being direct deposited into my new Wells Fargo account. So, to pay Bank of America I needed to get cash from the Wells Fargo account. But I couldn't. They blocked the account and for the past 3 weeks I haven't been able to pay Bank of America nor do I have any money for myself. My cell phone has been cut off, can't pay...My rent is late...can't pay...Had to borrow money to put gas in my car...can't use my debit card.

NO matter how many times I called, no matter how many times I'd talk to someone on the phone, I can't and still haven't been able to get any money. I've waited on hold for more than thirty minutes and I was even hung up on tonight after telling Wells Fargo that I would be calling the BBB and I wanted my money before another weekend went by. She called me "abusive" although I never raised my voice nor used profanity.

She told me my account would close on Friday although I was told that my account would close at the beginning of the week on Monday and that I'd get a check in the mail...no check in the mail this week and my account is still open with almost $800 just sitting there. Am I ever going to get my money? Am I ever going to get to pay Bank of America? What do I have to do to get my money?? I am at my wit's end. Why won't this bank give me my money???
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ejack053824 on 03/10/2006:
I agree with Jay. Get your ass over to the Well Fargo branch and end this matter! Stop screwing around and hoping that they send the "check in the mail" routine crap.
bill on 03/10/2006:
Why didn't you pay B of A. You had $800 to deposit in Wells Fargo. You are screaming you want your money but weren't very concerned about paying B of A there money.
ejack053824 on 03/10/2006:
Very good point indeed Bill! :)
DebtorBasher on 03/11/2006:
If you need the money that is being directly deposited into your WF account to pay BofA...why don't you stop the direct deposit? I usually only takes one pay period and it would have been done by now...OR if your family knows your good for the money and you have this dream job, why can't they lend you the money to pay BofA...if they see the problem you're having, why can't they help? You don't need to borrow the whole amount from one person, you can borrow from two or three people and pay them back when you get your accounts straighted out.
gr8stems on 07/24/2006:
OMG!!! The EXACT same thing happened to us with the SAME banks! We closed our B of An account back in frb. and in July something tried to clear and the account was reopened, don't know how they did that but none the less we were charged 300.00 in NSF fees and WAS not notified of any of this. We found out just last week that Wells Fargo froze our accounts because B of A sent it to check systems. We ended up biting the bullet and paying their BS fees, oh by the way from money WE HAD to borrow.... Wells Fargo said they needed a letter saying it was paid, the receipts weren't good enough, they wanted a letter WELL..... B od A don't do letters like that its against their policy!! So here we, are going to have to set for 2 to 3 weeks with a frozen checking account, savings account, and our home mortgage account which is through them (Wells Fargo)So those of you that think you know it all by saying "Why didn't you pay B of A. You had $800 to deposit in Wells Fargo. You are screaming you want your money but weren't very concerned about paying B of A there money" or
" Why don't you go to the branch and resolve this problem? Why didn't you close the B of An account?" Don't have a clue! You are offering worthless advise on something you haven't a clue about or experienced. If it were that damn easy I would be setting here trying to find a way to UNFREEZE our accounts. Its all in time they say, Well that's something I don't have right now. Anyway, I was advised to file a complaint with the FDIC and the OCC. I am even going to contact the local news. Good luck on getting your 800.00 out and as for you others if you don't know what you are replying to or haven't experienced it, don't bother, your making a fool out of yourself!
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terrible mortgage business
Posted by on
CHICAGO, ILLINOIS -- Here is a story about how badly Wells Fargo mortgage business sucks. I closed on my new home in 2005. I had told Wells Fargo that I would close on that day weeks ago and guess what? They called me only 36 hours before closing to bring me the good news. Although Wells Fargo customer service had told me it was a 100% financing option, I was asked to bring in 3% of my own funds to the closing which amounts close to $9K. I had e-mailed my loan manager Jonathan Drankwalter multiple times, left messages in his answering machine and he NEVER responded.
I complained about the misinformation and somehow Wells Fargo manager Matt O'Leary made some changes to the closing statement calculations 5 PM the daya before closing. (It is a very complicated formula by the way the way they calculate the exact amount you would need)
A day of scrambling to get the funds and here we are in the title company's office. I told the title company about the 3% thing and they were like 'Oh,we do not know nothing about that. This is what we have from Wells Fargo". Happily I sign the paperwork and then get a call from Title company. Wells Fargo has declined to fork over the money to the seller. Why? I have not met the 3% requirement. Remember that everything was based on their numbers. They deny their own calculations. The manager who handled the loan said it was just some clerical error. Oh, I forgot to say that I had to leave work and drive 90 minutes to a suburb of Chicago to resign the paperwork. After venting to the manager Matt, he reluctantly agrees to pay me $500 for my troubles. He promised to send the check within the next 6 weeks. I called Matt three more times after 6 weeks. His first excuse was "My supervisor changed. I had requested the check. I will look into it again and it should arrive shortly". 2 weeks passed. Still no check! I called him up on Nov 30, 2005. His second excuse on the phone is : " I do not know where it is" I insist that he trace it and call me back. During our conversation I expressed my frustration with him and he had the guts to tell me " I went above and beyond by agreeing to pay you $500". Now, that is suggesting I should just sit on my a@@ and stop complaining. He insists that it is coming in his terms 'SOON'. How soon? He does not know. Then I ask to speak to his manager and he refuses to connect me to her.
In his terms " The issue is not worth escalating at this point". Sure, he is afraid of his ass being on the line. My girlfriend later called Matt's manager Givonn and she promised to look out for my check. Later the same day Givonn rung me up and apologized. She also told me that a check had never been requested. Hmm, would that mean Matt sat on it and was lying to me?
I am still waiting with misty eyes the day I can touch that elusive peanut money for Wells Fargo.
My suggestion, do not ever do mortgage business with them until they clean their act
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spiderman2 on 12/02/2005:
I have a hard time believing that they agreed to compensation you $500. Also, you normally don't get to tell the bank when you are going to settle -- they tell you. The 100% financing and 3% down thins sounds fishy on their part, or is it you just didn't understand what points are and you agreed to pay them? The bank and the title company are not one and the same. Numbers change slightly at the last minute, that is how it works, there are things like taxes, sewer, refuse, etc. to take into consideration. There may have been mistakes on their part, but I don't think you had a grasp on this situation. Where were your real estate agent and attorney in all of this?
tander on 12/02/2005:
We have had Wells Fargo for a Home Mortgage, and was so glad to get away from them when we refinanced, here's a suggestion, keep all mortgage payment receipts, look closely at your statements every month because Wells Fargo is disorganized and doesn't keep accurate records.
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Reverse Mortgage Loan Closing Delay
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NEWPORT, NORTH CAROLINA -- This is an admonition to anyone shopping for a Reverse Mortgage Loan (RML) lender to think twice before using Wells Fargo bank’s mortgage services. My current experience with them is bringing back unpleasant memories of an earlier experience with Financial Freedom, which was the arm of Indy Mac bank that specialized in RMLs.

On November 4, 2008 I sat down with the Wells Fargo’s Reverse Mortgage Loan (RML) agent at my home in eastern North Carolina and initiated a new RML. This new RML was to refinance a RML that I had gotten over one year earler through Financial Freedom. Since closing delays had made the experience with Financial Freedom very frustrating (12 weeks and one day), I specifically asked the Wells Fargo agent what I could expect the elapsed time to be for their closing date, and was proudly told that Wells Fargo had a policy of closing in 30 days or less.

Forty-four days have elapsed as of today (12/18/2008), and I have not been able to get Wells Fargo to even set a closing date. I call their regional representative, she says she will check on the status of my closing and call me back, but she usually does not call back. When she does call back, it is to tell me that they are understaffed and overworked (who isn’t?), and that a supervisor will call “later today”. She has stated that all the documentation is in place, but that the processing hasn’t been completed.

Since Christmas is only eight days away I am growing increasingly frustrated, and I am expecting Wells Fargo to use the holidays as an excuse to set the closing for the last week of this year or the first week of 2009. If so, my experience with Wells Fargo’s closing will far exceed their assurance of “30 days or less”, and may end up being very much like my experience with Indy-Mac/Financial-Freedom.

My RML with Indy-Mac/Financial-Freedom finally closed on May 31, 2007, and the FDIC took over Indy Mac less than two months later in July. The agent that took my recent RML application said several times that Wells Fargo was financially sound, but the guy with Indy-Mac/Financial-Freedom said much the same thing. Now I am wondering if an inordinate delay in setting a closing date is a sign that a bank is short on funding and about to fail.

Does anyone have any inside information on this? Should I cut my losses with Wells Fargo and go with another lender? If anyone knows anything, please clue me in.

UPDATE: Wells-Fargo finally set the closing for the afternoon of Christmas Eve, seven weeks after the RML was initiated. Receipt of the proceeds was also delayed (by the Christmas holidays) but was completed on New Year's Eve, making the entire process span eight weeks and one day.
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Wells Fargo Screwed Up My Wire Transfer
Posted by on
EDEN PRAIRIE, MINNESOTA -- They say something while you were doing wire transfer and lie about it from top down. I was doing an international transfer and the first banker doesn't even know how to convert currency if he has a converting factor. (If 1 dollar = y of other currency how many does does x dollars cost make in other currency). Believe me this he took 10 minutes to figure out. Then he screwed up the process and it was cancelled (which by the way I had to follow up and check as they did not say a word about it). I again had to go the other day.

Again the wire is cancelled as the internal process did not agree with the conversion rate they put in. So it was changed and sent again on the third day, which they promised would go the next day and take at the maximum of 48 hours. It did not. SO when I ask the manager says the person who sent the wire is not in office and they would not have said 48 hours. I waited for 4 days and again the manager said she confirmed with her staff and apparently they did not tell me 48 hrs and I got confused. I was told 5 to 10 days.

So I waited and then they say it wasn't sent on the day they said it was but 3 days later due to some holiday on receiving end and I was given an option to cancel which takes 5 days to get my money back). So I go the next day and ask why the delay and give my money back. Now I am told that the staff apparently explained me two methods of sending money and I opted for some reason the one that takes very very long time (even though I chose wells fargo to my 3 day delivery regular method just for the reason of money being delivered in 48 hrs). And the highlight for today is they will not be able to give my money back and have to wait as long as it takes and as a consolation gave a 20 dollars put in to my account.

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Wells Fargo Bank - Does Not Accept Joint Government Checks Unless You Have Joint Account
Posted by on
CONCORD, CALIFORNIA -- Today, June 21, 2008 I had a very bad Saturday at my local Wells Fargo Branch in Concord, CA.

After being a customer since 2000, with checking and saving accounts, and depositing my paychecks every two weeks in there, I was told the following:
My husband was ready to present all necessary ID's DL, credit cards ecc.,in order to deposit the check into my personal saving but it was not enough. They simply wanted to deposit this kind of checks into joint account only. The same problem we will have with our stimulus check that is coming these days.

I feel this is a legal issue, because the government is giving us some money, and we have to have an access to them. But actually, if you go to Wells Fargo located at Clayton Road, Concord, CA you are not going to be able to cash your joint government check unless you have a joint account in there.

What should be, if all the banks are like Wells Fargo? Then all we must open joint accounts, otherwise we have to return the checks to the government... When I called the telephone number listed on my Wells Fargo monthly statement, the representative told me that this is a decision of the local branch manager and NOBODY is above him. When I asked the for the telephone number of Wells Fargo Legal Department I was told there is no such a number...so I was very, very humiliated.

How comes a local branch manager can stay between me and the government checks issued to me and my husband? I don't think this is the right way for Wells Fargo to acquire more customers. If this is a security issue why Wells Fargo simply don't ask the depositor(s) to present same documents they need for opening a joint account in order to cash or deposit the government joint checks?
I need a legal advise about this issue.

Please, share your experience and opinions about the above matter.
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User Replies:
madconsumer on 06/22/2008:
ALL BANKS DO THIS, so this is no new.

with all the fraud going on, this protects the bank for spouses 'stealing' the others money.
yoke on 06/22/2008:
They are protecting your husband. Your husband will have no access to the funds, only you. How is that fair?
tnchuck100 on 06/22/2008:
All banks do not do this. They were BOTH right there. There was no 'protection' issue. Wells Fargo was just being obstinate.
madconsumer on 06/22/2008:
unless both names are on the account, no bank will deposit or cash a refund or rebate government check.
yoke on 06/22/2008:
Why didn't you just add your husband to the account? Once both governemnt checks come in take him off the account.
Did you try going to your husbands bank to deposit the check?
2inform on 06/22/2008:
Take the stimulus check to Wal-Mart. They will cash it at no charge.
Ponie on 06/22/2008:
Good one, JayD! What's mine is mine; what's yours is mine, too. :)
yoke on 06/22/2008:
Agree JayD.
*Brenda* on 06/22/2008:
How is why they don't have a joint account your business?
yoke on 06/22/2008:
When one complains she can't deposit a joint check into her account she made it peoples business.
*Brenda* on 06/22/2008:
No she didn't. You all are just being nosy.

I used to have separate accounts and I had NO problem depositing my husband's checks into mine if he was there. NO problems at ALL.
Ponie on 06/22/2008:
Didn't trust him, right Brenda? :)
DebtorBasher on 06/22/2008:
So, why not just have your husband and you sign the check and cash it then deposit the cash?
Nohandle on 06/22/2008:
Mia, sorry to take issue with you but when you stated "because the government is giving us some money" is incorrect. The government isn't giving us anything. The taxpayers are and as usual they weren't asked beforehand.

Were both you and your husband at the bank together or did you learn this later and call the bank? I gathered only he was there. If you were both present, make it easy on yourselves, cash the check and do what you want with the cash.

DB, I just read your response. You're a bit ahead of me.
*Brenda* on 06/22/2008:
No Ponie, just laziness!
ryno75 on 02/09/2010:
you should do your homework, the Feds require all joint income checks be deposited into joint accounts or... they hold the bank accountable and they can dispute for up to 7 years. bank did the correct thing open a frecking joint account takes 5 minutes!
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Business Credit Card Fozen
Posted by on
COLORADO SPRINGS, CONNECTICUT -- My business credit card was frozen on January 11, 2008. I received no letter, no notice on my online statement, nothing.It had a zero balance, never even used. On January 11 I had put in a letter of intent to sign a lease to start my business. The landlord declined my request. He said my credit was fine but I was underfunded. Not knowing my card was frozen, I wonder if it was a factor in declining my request for a lease. Now half of my funding was gone and did not know it. I found out when they sent me my online notification of the new statement for view, it said that the account was closed. I called the credit card direct and they cannot tell me why it was frozen, to submit by fax a request to reopen the account and why I want to reopen it. WHY? I never wanted it closed. Could you imagine, if I had signed that lease, went to go purchase the equipment and then was told that my card was invalid? I would have been stuck with a five year lease while running around to find a replacement for that funding. I am closing my business account and personal accounts with them and taking my business elsewhere. I also had problems with them charging me $5.00 a month for paper statements. I don't get paper statements, I get online statements.

The banker I deal with is very nice, but took him 3 months to get it straightened out and having to return my money to the account so that I would not be charged the fees for being under the minimum amount. My business isn't even open yet, and now I am scared to death. How hard can it be? By the way I don't know what or where Costa Mesa is, the bank is in Colorado, I don't know why they have the CT for state, I put CO.
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madconsumer on 02/02/2008:
if you have not used the card in many months, that will allow the card to be closed. why not go through the steps to re-open the card?
Wendi Lynn on 02/02/2008:
The card was only in my possession for less than three months. It was frozen on Jan.11, the same day I was putting in a letter of intent for a lease. Feb 1, my statement came online and there was no note or warning. I just happened to notice that my business credit card balance was zero as well as the credit available. If they close or freeze an account, that is an arbitrary decision in which a notice is to take place. The credit services said they can close or freeze an account for any reason any time. My banker on the other hand was as appalled as I was and is working with his manager to correct the situation. He said that is not how it is done, it is not just closed for inactivity, they are aware that these are funds to help open the business which can take several months. He said anytime they make an abritary decision like that is because of a bankruptcy or other drastic change in credit rating. I always had and currently have excellent credit. So, since my banker is working hard to correct this situation, and I am meeting with him on Monday, I will probably have it unfrozen and work with them still. My anger was because it may have directly impacted my ability to get the lease I was requesting, and if I had gotten the lease and went to purchase the equipment I needed, I would have been in quite a mess not knowing anything had changed with the account. My banker agreed that there was a potential disaster in the making. One possibly not getting the lease because now I appeared underfunded, and two possibly having problems with vendors and construction in which time is of an essence. So, I agree that it sounds as easy as just going through the steps to reopen, but it is not. I cannot be in the middle of opening a business and have them just close an account without notice and without a reason. I depend on those funds to open. I really like my banker and he is the sole reason I am willing to continue to work with them. He called me immediately this morning after receiving my voicemail from last night and said that it should have never happened and he is concerned that it did happen because it affects his job and relationships with his clients. If they have changed policies with notifying him, he needs to know so that he can better inform his clients and work with them accordingly. I have had credit cards in the past that I never used, and they have never just closed or frozen them, I had to physically close them myself and which they pratically beg you not to. Do you see the point here?
Wendi Lynn on 02/03/2008:
I was sent an email that there was another comment on my review. I cannot find it anywhere.
Wendi Lynn on 02/03/2008:
Again, I was sent notice of a new comment and there is not one posted. Just my response saying the same from the last email. Don't know what is going on here.
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Harassing phone calls when payments are not late
Posted by on
WASHINGTON -- We are on the last payment of a 5-year car loan with Wells Fargo, the eighth car we have purchased and paid off in our adulthood, and we will never do any kind of business with Wells Fargo again because of the way we have been treated. The payment terms state there is a grace period between the payment "due date" and the time it becomes "late." We have taken advantage of that grace period when needed because of our paycheck schedule. For at least the past year, starting on the very first day of the "grace period," our phone has rung multiple times with someone from Wells Fargo hounding us, from early morning until late night. Right now, when we are days away from paying our FINAL PAYMENT, ON TIME, the phone calls have begun again.

This is no way to treat a good customer, and as a result we have already made sure that we do no other business with Wells Fargo, and that everyone we know hears this reason to stay away.
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User Replies:
spiderman2 on 08/26/2007:
The grace period date isn't your alternative due date. I would think they are figureing you will mail your payment as close to the due date as possible (like 2-3 days max() to synch with your paycheck. There must be some reason they fear not being paid.
Anonymous on 08/26/2007:
You are late the day after your due date. The grace period only means that they may not charge you a late fee if you pay in that period, but nonetheless, you are late on your payment.
Timboss on 08/27/2007:
Agree with spider... and Ken...

You've been late in your payments.
Anonymous on 08/30/2007:
If you want to complain about Wells Fargo Bank, send a written letter via certified return receipt to: Office of the Comptroller of the Currency, Consumer Affairs Department, 1301 McKinney Street, Suite 3450, Houston, Texas, 77010-9050, Tel: 800-613-6743. Also, send a written complaint to your State Attorney Generals Office, Attn: Consumer Affairs.
Acurachick01 on 10/10/2007:
The same has happened to me. My payment on a vehicle was due on the 4th and by the 6th, they were calling me nightly AFTER 8 pm at my house. Even after calling them back during normal working hours and them promising not to call since we had taken care of it, they still called. I will NEVER use Wells Fargo for anything else and will make sure Everyone I know knows how they treat their customers.
Pinecone on 09/28/2008:
If Wells Fargo wasted less money on the harassing phone calls they would not have to steal so much money from their customers checking accounts.
lbguy on 02/12/2010:
Spider and Ken may enjoy feeling superior by paying their bills by the "due date," but if you don't use as much of the grace period as possible you're only hurting yourself. For 25 years, I've paid bills -- mortgages, phone bills, and others -- as close as possible to the end of the grace period. This maximizes my use of the money. I've had no problems whatsoever with this practice.
curtis on 05/07/2013:
I have been receiving call from Wells Fargo Collection Dept for the last few days when I was not at home. Finally, I did pick up the phone. To summarize the conversion, I was told that I was late with my mortgage payment, which I have never been and always paid during the grace period. According to them payment is late as of the first day of the grace period and they will call me every month to remind me. They said that if I don't want to receive phone calls from Wells Fargo, I need to sign a document which will prevent me from talking to the bank for any issue I may have and that they will not call me. In case I needed to talk to them, I will have to send a waiver for this document and subsequently I will again start to get monthly calls till I comply with them by sending payment before the start of grace period. I consider it BLACKMAIL. Also they were asking me about my cell phone number and office number etc which I refused to give.

MY SOLUTION: I have a regular cordless phone which has a call blocking feature. I added Wells Fargo numbers. Bingo no more harnessing phone calls. In case you need the telephone brand it is Panasonic.
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