Report: #1243867

Complaint Review: Wells Fargo Bank N.A.

  • Submitted: Thu, July 23, 2015
  • Updated: Thu, July 23, 2015
  • Reported By: D Sioni — Los Angeles California USA
  • Wells Fargo Bank N.A.

    Nationwide
    USA

Wells Fargo Bank N.A. CLose my accounts with no warning and hold my money?! Nationwide Nationwide

*Consumer Comment: I think I see your problem...

*Consumer Comment: I'll Bet...

Show customers why they should trust your business over your competitors...

Well Fargo has closed my accounts and held all of my business account and personal money!! They will not release it for 2 weels!! I have been left with not a nickel to eat with and they seem insensitive to my situation. I did nothing to have my relationship closed, and they even closed business accounts I was not an owner of, which means they failed to look at business documents! I got no 30 day warning that my business accounts were going to be shut down so that I could have a fair chance to move my business accounts, I cant even operate my business! This bank is horrible, I had been with them for such a long time as well! Good going Wells, you basically took me from having a comfortable life to under poverty level in one day. Best believe I will get an attorney for this!

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This report was posted on Ripoff Report on 07/23/2015 02:57 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wells-fargo-bank-na/nationwide/wells-fargo-bank-na-close-my-accounts-with-no-warning-and-hold-my-money-nationwide-na-1243867. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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#1 Consumer Comment

I think I see your problem...

AUTHOR: Robert - (USA)

Your problem actually looks very simple.  You keep calling it "your" business account, yet you then say you are not even the owner of the business.  If you say this other account has no relation to you, then how would they know it is one of your accounts?

That would seem to raise several red flags to a bank, and most likely a primary reason your accounts were closed. 

If they suspect(notice I didn't say there was..just that they suspect) let's just say "funny business" going on between your accounts they are not going to give you an extra 30 days to clear it out.

As for the notice.  Any bank has the right to close your account at any time, and without notice.  They are holding the money in the account to protect THEM(yes...them).  As that is going to be used to cover any outstanding debts that may come in.  After the hold period is over they will release what ever is less.  Oh and they are not going to take you at your "word" that there is nothing outstanding.

Perhaps the next account(s) you open should be at different banks.  One for your personal account and one for "your" business.  Only this time provide them the paperwork that shows you are actually the owner of your business.

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#2 Consumer Comment

I'll Bet...

AUTHOR: Jim - (USA)

I'll bet you had no overdraft fees ever.

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