Checking or savings account -- Managing an account -- Complaint #4682514
Complaint Overview
Complaint ID: 4682514
Company: Wells Fargo & Company
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Problem making or receiving payments
State: Georgia
ZIP Code: 30296
Date Received: 2021-09-01T12:00:00-05:00
Date Sent to Company: 2021-09-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I deposited XXXX at an ATM. Upon deposit it stated there could be a hold place on the deposit.. which is the statement for every deposit. Two days later I inquired about a hold. I was told there was a hold placed in the account because money was uncollectable, refer to maker. It was an insurance company for death claim. I asked about the check not being collected and was told that they never had such problem and stated they do business all the time with Wells Fargo and referred me back to the bank. The bank informed me that deposit wouldnt be made available until the XXXX of XXXX regardless of when the bank received the money. I was told to go see a branch manager to see if he can verify check and release funds. Branch manager stated he could not and refer me to the ATM division of the bank. Spoke to someone who stated that the next time they present the check wouldnt be until the XXXX of XXXX. I asked why would you hold a check for 7 days w/o presenting it. Why are personal checks are handled differently. I was told thats what I agreed to. I unformed them that the ATM screen should show date check will be held if not released. I was told it was on my receipt but Im only getting the receipt AFTER the deposit. It seems that the bank arbitrarily holding funds w/o explanation. Even if they processed the check early I would still have to wait until the XXXX of XXXX
Frequently Asked Questions
What is Complaint #4682514 about?
Complaint #4682514 was filed against Wells Fargo & Company regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2021-09-01T12:00:00-05:00.
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.