Checking or savings account -- Managing an account -- Complaint #8260548

Complaint Overview

Complaint ID: 8260548

Company: Wells Fargo & Company

Product: Checking or savings account

Sub-Product: Checking account

Issue: Managing an account

Sub-Issue: Deposits and withdrawals

State: California

ZIP Code: 92024

Date Received: 2024-01-31T12:00:00-05:00

Date Sent to Company: 2024-01-31T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Wells Fargo has continued to deny me access to my fathers bank account despite the fact that I have on numerous occasions provided documentation which clearly allows me as Successor Trustee to make financial decisions on his behalf : My father has been diagnosed with XXXX XXXX. As a result, my sister and I recently put him in a home, which specializes in caring for those with similar XXXX XXXX. According to my fathers living Trust ( the Trust ) I am the sole Successor Trustee in the event XXXX licensed physicians determine my father is declared incapable of making his own decisions including those related to his finances and healthcare. XXXX licensed physicians executed such letters on XX/XX/XXXX and XXXX, XXXX. On XX/XX/XXXX, I learned the entire balance of my fathers Wells Fargo checking account had been withdrawn {$6600.00} in total and subsequently closed. Knowing that my father is in a home and both physically and mentally incapable of getting to the bank and withdrawing funds. I am certain this was product of either some sort of mistake or more likely fraud. I promptly called Wells Fargo and voiced my concerns about the account with them. I ultimately met with a bank representative on multiple occasions during the week of XX/XX/XXXX and provided documentation clearly demonstrating that I in accordance with my fathers estate plan have authority to ( amongst other things ) execute financial transactions on his behalf. This is documentation that has already been accepted by a number of other financial institutions. Despite that, Wells Fargo denied my request- taking the conveniently technical position that the account had been closed ( after all funds were withdrawn ) and that proper estate planning documentation wasnt provided ( which it was ). Soon thereafter I engaged my son a licensed attorney to assist me with the process since I was clearly getting nowhere with Wells Fargo. Sometime in XX/XX/XXXX, he called the same bank employee to voice my frustration with Wells Fargo and more importantly hopefully come to a swift resolution. During that call it is my understanding the bank employee had difficulty explaining the banks position in denying me access to my fathers account. Although unclear, Wells Fargos position appeared to be that the Durable Power of Attorney naming me as the attorney-in-fact provided in my fathers living Trust failed to list execution of financial transactions as one of my powers. My son informed her that the banks position was improper given that I have power to execute all financial transactions on my fathers behalf based on the Trust naming me as Successor Trustee in the event 2 licensed physicians had declared my father incapacitated. My son urged the Wells Fargo employee to reconsider the banks position and informed her that he would be following up with a letter and encouraged her to forward it to her superiors and Wells Fargos legal department for further review. On XX/XX/XXXX, my son followed up with a letter to this same bank employee with the following documentation : ( 1 ) Relevant portions of my fathers Trust, ( 2 ) Durable POA and ( 3 ) 2 physician letters which clearly permit me to access my fathers account as Successor Trustee. Over the next several weeks my son had multiple communications with the same Wells Fargo employee. Despite the fact my son had provided the appropriate documentation to allow me access to my fathers account, Wells Fargo continued to deny me access. At this point the same employee told my son the Wells Fargo legal department informed her I would be required to file a conservatorship action in probate court declaring my grandfather incapacitated and appointing me as my fathers conservator before Id be given access to the account. My son informed her that the banks position was improper and unacceptable. He requested to speak with the legal department so they could explain their position, which is completely at odds with the express terms of the Trust and applicable law. She refused to put him in contact with Wells Fargo legal and also refused to relay my sons request to have Wells Fargo legal clearly lay out their position in writing. On or about XX/XX/XXXX, my son spoke with the same bank employee who once again refused to allow me access to the account at issue. During that call she finally agreed to escalate the complaint to her superiors and informed my son that one of them would be in touch with me within 10 days. Unsurprisingly, the supervisor failed to timely respond. On XX/XX/XXXX, the same Wells Fargo employee left my son a voicemail stating that Wells mishandled the escalation request and her superior attempted to contact my mentally incapacitated father by mistake. As a result of Wells error, the 10-day escalation process would need to restart to substitute me in as the proper point of contact for the escalation request. Wells was clearly in no hurry to address my concerns related to their mishandling of this entire process. On XX/XX/XXXX, Wells Fargo informed me through a no-reply email that the escalation process had been initiated ( once again due to their error ) and that they would contact me within 10 business days from the date [ I ] contacted [ them ] which clearly isnt true. I have yet to get a substantive response from Wells Fargo. This process has been terribly frustrating. It is clear to me that Wells Fargo is doing anything in their power within their deep sea of bureaucracy to make it difficult for me to resolve this issue and get to the bottom of the fraud they ( at best ) negligently allowed to happen. After repeated attempts to try and resolve this issue reasonably with Wells I was left with no choice but to file this complaint. I am hopeful that CFBP can help to resolve this simple issue.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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