• Report: #127040

Complaint Review: Wells Fargo Bank

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  • Submitted: Wed, January 12, 2005
  • Updated: Wed, January 12, 2005

  • Reported By:Cathedral City California
Wells Fargo Bank
42350 Bob Hope Drive Rancho Mirage, California U.S.A.
  • Phone:
  • Web:
  • Category: Banks

Wells Fargo Bank Safe Deposit Box theft! Ripoff! Rancho Mirage California

*Consumer Suggestion: 40K in safe deposit box?

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Had safe deposit box in Wells Fargo Bank containing $40,000 cash. Went to bank to take money out of safe deposit box and found key would not open box. When box was opened by locksmith it was found to be empty.

WFB would not communicate with us or a police investigation. Could not afford $20,000 for attorney so filed Superior Court case in Pro Per. WFB used not applicable documents (ruled not applicable by FDIC) to compell case to arbitration.

At arbitration Locksmith testified that lock had been changed (also in police report). Bank employee testified that our keys were not altered or changed. Bank employee testified that they open as many as 100 boxes at a time for whatever reason and because of the magnitude merely put the contents in a plastic bag for inventory later. Evidence from the US Treasury Comptroller for Currency (bank regulatory government branch) indicates this is far from a first time occurence for WFB. Arbitrator ruled in favor of WFB (surprising?)

Ruling can not be challenged in CA unless corruption can be proven on the part of the arbitrator. This has been going on for almost 2 years now. Currently requesting government investigation at state and federal level.

Cathedral City, California

This report was posted on Ripoff Report on 01/12/2005 11:06 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Bank/Rancho-Mirage-California-92270/Wells-Fargo-Bank-Safe-Deposit-Box-theft-Ripoff-Rancho-Mirage-California-127040. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Suggestion

40K in safe deposit box?

AUTHOR: John - (U.S.A.)

$40K in safe deposit box? That is not a smart move. Why not a CD?
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