Checking or savings account -- Managing an account -- Complaint #11275578
Complaint Overview
Complaint ID: 11275578
Company: Wells Fargo & Company
Product: Checking or savings account
Sub-Product: CD (Certificate of Deposit)
Issue: Managing an account
Sub-Issue: Banking errors
State: Colorado
ZIP Code: 80910
Date Received: 2024-12-23T12:00:00-05:00
Date Sent to Company: 2024-12-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
On XX/XX/XXXX I called Wells Fargo to ensure my CD interest rate remained above 4 % as a previous CD had automatically dropped my rate on renewal to 1.99 %. Wells recommended that I make an appointment to see a banker- which would have taken days. I called back to be sure my rate was above 4 % a few days later. On XX/XX/XXXX I noticed my rate had dropped to 1.99 % on a $ XXXX CD. I complained - I got a letter XXXX weeks later blowing me off. I complained AGAIN - I noticed in XXXX that the rate had gone back up to 4.41 %, but my interest payment for XXXX was still {$8.00} instead of the {$20.00} I had received in XXXX. I talked to the customer service group ( XXXX XXXX and was told they couldnt solve the problem within the 10 days allowed. They moved the solve date to XX/XX/XXXX- a day AFTER my CD matured. Why are banks allowed to drop rates and make it difficult BY WRITTEN POLICY to renew a CD, when you can set one up on line? Why cant you renew on line? I know XXXX XXXX XXXX also has the same policy.
Frequently Asked Questions
What is Complaint #11275578 about?
Complaint #11275578 was filed against Wells Fargo & Company regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-12-23T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". 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 (Checking or savings account) 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.