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Report: #1532896

Complaint Review: Wells Fargo Bank - Sarasota Florida

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  • Reported By: Dr. Robert Waxman — Sarasota Florida United States
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  • Wells Fargo Bank 4794 Tamiami Trail (The Landings) Sarasota, Florida United States

Wells Fargo Bank DO NOT DO BUSINESS WITH THIS BANK!! Sarasota Florida

*Consumer Comment: The rest of the story

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Response from W.F. and my reply / False advertising of $300 bonus to open new account.  After a horrible experience at Wells Fargo, I sent them an email explaining (in detail) the untruths and unprofessional behavior of this bank. The response from Wells Fargo did not address ANY of my concerns that were included in my original complaint. In fact, the "executive resolution person" who was assigned to my case did not even speak to the individuals involved in the matter. Instead, this "executive" stated that the district manager "researched" the situation, and incorrectly advised her that I closed the account and did not qualify for the $300 bonus.
Both claims are absolutely UNTRUE. They are lying about what really happened and misrepresenting the facts. They have created their own "alternative" facts which is so common these days. Simply stated, Wells Fargo is covering-up this incident by inventing outrageous untruths. 
Major falsehood: The bank claims that I closed the account, when in fact, a frantic branch manager rushed over to where I was sitting (with the loan officer) and commanded him to close the account. She sternly instructed him to write a cashier's check to me for the $5,000 direct deposit received.    
The branch manager did not say one word to me. She was too intent (and intense) on instructing the loan officer to close the account. 
In their response, it states, "Our research has also confirmed the $5,000.00 wire that posted on May 17, 2024, did not qualify. To qualify for the $300.00 bonus, a total of $1,000 or more in qualifying electronic deposits to the new account." This response is absolutely absurd since I sent the qualifying electronic funds for $5,000 by direct debit that cleared the day before my appointment. Lie, lie, lie.
All requirements for receipt of the $300 bonus were adhered to, and please note: the bank does not explain why the $5,000 was not "qualifying funds." The truth is, I complied with all the requirements that were needed to receive the bonus. Just as they lied about how my account was closed, they ommited any rational explanation as to why my $5,000 did not "qualify." Why didn't the funds qualify? Wells Fargo did not answer that question except they included some fuzzy language about direct debits. I had sent the funds vis direct debit! All instructions were followed perfectly and the $5,000 direct debit had cleared. They have no excuse for not paying the $300 bonus that I was entitled to according to their ubiquitous advertising.  
The rest of the bank's response is "standard language" that's used in boilerplate letters - it says nothing and means nothing.
The most glaring issue that was conveniently not addressed was: Why did the branch manner act in such an irrational manner? Why didn't she introduce herself and explain why she was closing my account? It was without discussion that the branch manager took it upon herself to close the account and refund my $5,000 direct debit. In my 40 years in business, I have never met a branch manager who was so abrupt, rude, dismissive, non-communicative and lacking in people skills.
Several other complaints about this branch manager are posted in reviews that include many of the same descriptive words above. She is obviously the wrong person for this important position, and sorely needs to be retrained and learn how to be a professional. Her immature behavior is inexcusable, and her impulsive attitude exemplifies her inexperience and lack of decency. 
Once again, Wells Fargo is living up up to its well-known reputation of being the most dishonest bank in their industry. They are still the same Wells Fargo that was sued and indicted by the Federal Trade Commission and had to pay $3.3B to settle their case in 2021.
Please rest assured that my complaint will be sent to the FL Attorney General, the FTC, and the The OCC, which charters, regulates, and supervises all national banks and federal savings associations as well as bank branches and foreign banks. 

This report was posted on Ripoff Report on 06/09/2024 06:10 PM and is a permanent record located here: 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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#1 Consumer Comment

The rest of the story

AUTHOR: Robert - (United States)

POSTED: Wednesday, June 12, 2024

You are leaving something out. Bank Managers do not run over to random employees and order them to close out accounts of customers and issue a cashier check unless they have a good reason.  And no it isn't just because they don't like you or don't want to give you any bonus.

The deposit terms seem quite clear.

A qualifying electronic deposit is a deposit of funds, such as your salary, government benefit payment, or other income, that has posted to your account and is (1) a direct deposit made through the Automated Clearing House (ACH) network, (2) an instant payment processed through the RTP® network (real-time payment system) or FedNowâ„  Service, or (3) an electronic credit from a third party service that facilitates payments to your debit card using the Visa® or Mastercard® network (e.g., an Original Credit Transaction). Transfers from one account to another, mobile deposits, Zelle®, or deposits made at a branch or ATM are not considered a qualifying electronic deposit.

If you read the rest of the terms you don't even get the bonus until about 30 days after you
have had the account open for 90 days.

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