Wells Fargo & Company Complaint - Small Business Not Big Enough To Care About
I'm a small business man who has banked with WF for a significant amount of time. I run a Construction business and have several accounts with the Manhattan Beach Branch in California.
I recently received a check from a customer in the amount of 100,100.00 and deposited it asking that they release a portion of the money 15,000.00 until the check clears. They agreed to do so and made a transfer of 15,000.00 to the checking from savings where the check was deposited.
The check which was presented the next day bounced and was returned. I got no call that anything was wrong, Like maybe a call, "Hey Mr. Morse there is a problem with the check you deposited." In fact the only way that I found out was that the company that issued the check sent me an email that it was going to be returned and should be resubmitted for payment.
So I went into my local branch to sort things out. I found out that instead of notifying me they just made my account negative without so much as a call or any notification. I presented the email and a copy of the ck from the company and asked if we could represent the ck for payment.
The person who help me, "Business banker" said that they would look into it and get back to me. I also investigated the bank from which the check was drawn in New York. Keep in mind that while this was going on the fees from the bank were racking up for being negative in my account.
The next morning I called the Manhattan Beach branch because I was trying to run my business in another location. It was 9:03 in the morning. I asked for the person that I spoke and left info with the previous day and she was busy and they took down my number. I called again 1hr later and she was with a customer. Still 3hrs later no call back.
Meanwhile at a jobsite I got a hold of an account person for the bank in New York and notified me that the funds 100,100.00 were available and to represent the ck today and it would get paid. 4hrs no call back from the Manhattan Beach office so I decided to go to the nearest branch knowing that if the ck was redeposited today it would get paid.
I don't know about anyone else but a check of this size was extremely important to me and the cash flow of my small business. However, I was told that they would not represent the check and even if a new check was sent out to me from New York that they would put a hold on the new ck for, GET THIS, 30 Days! Unbelievable! By the way, I never once received a call back for the Manhattan Beach office. I guess that my small business is not big enough for WF to care about. This was the worst customer service I have ever seen. The lack of response to any part of my business needs was ignored and they were of little help to say the least.
Of course they are making fees for account negativity so they were in no rush to solve the problem. I get it!
The company is fedexing a new ck today and lets just say that I won't be depositing it in a WF account so they can hold it for 30 days.
And I will be looking for a new bank who serves the needs of a small business man trying to make it in these crazy times.