Checking or savings account -- Problem caused by your funds being low -- Complaint #7025098
Complaint Overview
Complaint ID: 7025098
Company: Wells Fargo & Company
Product: Checking or savings account
Sub-Product: Checking account
Issue: Problem caused by your funds being low
Sub-Issue: Late or other fees
State: California
ZIP Code: 94568
Date Received: 2023-05-24T12:00:00-05:00
Date Sent to Company: 2023-05-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We discovered that Wells Fargo has been charging our account a $ XXXX fee due to our account balance below an excessive threshold {$250000.00}. When we inquired why this fee is being assessed, we were informed that Wells Fargo converted our account without our consent to a new account that enforces a minimum balance of {$250000.00}. We have since tried to reverse these charges because the account conversion was made WITHOUT OUR CONSENT OR KNOWLEDGE. We have also since tried to reverse these fees, which Wells Fargo has only done for a portion because they claim that they do not see these fees charged to our account. We have pulled the online monthly statements clearly showing where the fees are being charged and deducted automatically from our account, but Wells Fargo have refused to accept they have done so - and also refusal to review our monthly statements showing these unauthorized charges.
Frequently Asked Questions
What is Complaint #7025098 about?
Complaint #7025098 was filed against Wells Fargo & Company regarding Checking or savings account specifically about Problem caused by your funds being low. It was received by the CFPB on 2023-05-24T12:00:00-05:00.
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.