Wells Fargo & Company Complaint - Wells Fargo CD complaint **UPDATE**
***Scroll all the way to the bottom for an update***
I decided to close a CD that I've had with this company for a couple of years. It's just a small $5K CD that's getting less than half of a percentage point in interest.
During the grace period last week (Wednesday, May 5th), I contacted them to have the CD closed. After longer than average wait times and numerous tranfers to various departments that were going to "assist me with my investment decisions", I finally reached a dept that would simply close my account.
I spoke to a young lady (Jamila?), that insisted that my account would be closed within 2 days. I called back 2 days later, went through the same long wait times and drama, and finally reached someone that could check on my CD closure. The young man (forgot his name) insisted that since it had not bee a full 48 hours, that I should check back on Monday. He also made me feel at ease after he explained that all calls were recorded and if something went wrong with my CD closure request, that they could always reference the recordings.
I then let a few more days go by. I logged in and checked my account tonight (Thursday, May 13th), and I see that my CD account has not yet been closed. I then called Customer Service, and finally reached someone, after a long wait. She put my on hold for a while just to come back and say that I needed to go to into a branch since the grace period for closing CD's was over.
There are no branches in Georgia, even if there were, why should I have to go into a branch after repeatedly calling them to check on the status of my CD?
I immediately moved to have my accounts closed. I have over $30K in various accounts there. I don't even have a new bank selected yet, but I just put in a request to consolidate my accounts so that I can just take the money out in one swoop.
They used to be a good bank. What happened? I haven't had any luck with them within the last couple of months.
Ok folks, it's almost been a week and guess what? Now over $26K has disappeared!
So I spoke with a lady named Pat Thursday night who said that she'd consolidate my checking and savings accounts into 1 account. She said it was easier to consolidate everything into 1 account, then close that 1 account in 1 swoop. Over $26K was supposed to move from 3 accounts into 1 account. She said that I would be able to view the change the following morning at 8 AM.
I checked online the following morning and those 2 accounts have completely disappeared!
So I called back the following morning and spoke to someone named George. He stated that my accounts disappeared because interest was being added that night, so they couldn't close the accounts. He then put me on hold forever and transferred me to Natalie. Natalie told me a completely different story.
She told me that the turn around time for moving money between accounts is 1-2 business days and to check back next week. If you're still reading you notice that each of these 3 people I spoke with had completely different stories. Plus if there's a wait time, how did the money disappear so quickly? The money was removed from the old accounts ASAP, but it takes days to put the money back in???
It gets better folks....
So I log in Tuesday morning and the $26K+ is STILL not visible online. The money's STILL gone! I immediately called and asked a lady named Kay to transfer me to a mgr. Kay eventually transferred me to her supervisor, Dawn. The supervisor informed me that the accounts were not closed properly, so she was going to manually close them.
If this is the trick that closes the accounts, why weren't the accounts manually closed in the first place?
She then assured me that I would be able to view the missing $26K+ the following morning. Since I heard that song and dance numerous times recently, I asked her if I could reach out to her if I didn't see the funds visible the following morning. She told me that she'd rather call me if the funds weren't out there. She said that she'd check first thing in the morning, and if the funds are not visible, she will give me a call.
If the money is not visible in the morning I am opening up a BBB complaint. This is rediculous. Why do I have to work so hard to have access to MY money?
This all began when they wouldn't simply close a CD account at my request. They NEVER closed the account during the grace period. Now they won't close my other accounts. This is like the worst break up ever.