Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #10725213
Complaint Overview
Complaint ID: 10725213
Company: Wells Fargo & Company
Product: Money transfer, virtual currency, or money service
Sub-Product: International money transfer
Issue: Other transaction problem
State: California
ZIP Code: 91364
Date Received: 2024-11-07T12:00:00-05:00
Date Sent to Company: 2024-11-07T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Complaint Summary I am filing this complaint regarding a {$25000.00} USD international wire transfer initiated on XX/XX/year>, from my Wells Fargo business account. The funds were intended for a XXXX XXXX account in the XXXX, with XXXX acting as the intermediary bank. Despite multiple recall attempts by both Wells Fargo and XXXX, the funds remain uncredited, causing significant financial and reputational harm to my business. Transfer and Investigation Details XXXX. Transaction Information Amount : {$25000.00} XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Date Initiated : XX/XX/year> Originating Bank : Wells Fargo, XXXX XXXX XXXX XXXX XXXX XXXX XXXX Beneficiary Bank XXXX XXXX, XXXX XXXX XXXX XXXX 's Findings XXXX reported that while the cover payment was processed, they did not receive an XXXX message from Wells Fargo, which prevented completion of the transfer to Nationwide. XXXX sent recall requests to Wells Fargo due to the missing XXXX and has also requested debit authorization from XXXX to process the return. Despite these efforts, there has been no response from XXXX, leaving the funds uncredited and unresolved. XXXX. Wells Fargo XXXX XXXX XXXX Wells Fargo initiated case # XXXX and made multiple attempts to recall the funds, with formal recall requests sent on XX/XX/XXXX, XX/XX/XXXX, and XX/XX/year>. Due to the lack of response from XXXX Wells Fargo closed the case and advised that I contact the Federal Trade Commission, the XXXX XXXX XXXX XXXX XXXX, and legal counsel. XXXX XXXX Wells Fargo Wells Fargos premature case closure and inability to resolve the transfer issue violate consumer protection expectations, given the lack of support to ensure the transactions completion or recovery. As the originating bank, Wells Fargo has a duty to ensure that my funds reach the intended recipient or to fully pursue a recall if they can not complete the transfer. Impact on My Business The missing {$25000.00} transfer has disrupted business operations, strained client relationships, and resulted in financial losses. Wells Fargos failure to provide a clear path forward has left me without access to my funds or further recourse.
Frequently Asked Questions
What is Complaint #10725213 about?
Complaint #10725213 was filed against Wells Fargo & Company regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2024-11-07T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.