Frequent complaints seen by Wells Fargo customer service. And how to escalate…
Did you make a deposit through the Wells Fargo app only to have it held or rejected without your knowledge? Were you charged overdraft fees as a result? Perhaps you transferred money into your Wells Fargo account only to not receive credit for it. If you reported fraudulent charges on your account, was your claim closed without any explanation? Did Wells Fargo fail to protect your account after you reported unauthorized activity?
These are many of the complaints that customers have with their Wells Fargo bank or credit card accounts, loans, mortgages, and their insurance products. So many people have experienced these issues that Wells Fargo’s satisfaction rating on Consumer Affairs is less than 2/5 stars, and there are more than 3,000 complaints filed against Wells Fargo with the Better Business Bureau. Despite Wells Fargo’s attempts to improve its customer service, and providing access to digital ways to give feedback to the Wells Fargo team, many people still find it difficult to resolve disputes with the large bank.
The BBB has given them a rating of F, which is the worst possible rating with the consumer warning:
“Customer Complaint: This business receives a high volume of complaints. Consistent with BBB policy, effective 1/1/2018, BBB is publishing the details of 25% of this business’ complaints online. All complaints are counted in the total number of complaints.”
Wells Fargo has recently settled a variety of claims against them including one brought by the State of California alleging that the company signed people up for their online insurance products without their consent. Wells Fargo paid a $10 million penalty in connection with the settlement terms. Read more about Wells Fargo lawsuits here.
Other common complaints customers have against Wells Fargo Bank include:
Customers report that deposits that they make through the Wells Fargo app do not go through or are rejected. They are often unaware that there is a problem until they check their balance. Rejected or incomplete deposits may cause their bank account balance to go into the negative and result in overdraft fees. Some customer complaints note that deposits made at the branch were not properly processed and did not show up in their bank accounts even after numerous calls or visits to the branch.
A common complaint of customers is the lack of assistance or communication that they receive when reporting fraudulent or unauthorized charges on their bank or credit card accounts. Many report that it can take several days to address fraudulent activity, yet claims are often closed out without explanation or adjustment to a customer’s account. Customers cite frustrations with the lack of the information received, often noting that they have to call in several times to follow up on the status. Some customers report that unauthorized activity continued on their accounts even after contacting Wells Fargo and requesting replacement credit cards or debit cards. Customers were charged overdraft or late fees on unauthorized activity, which can make their balance go into the negative.
“I’m a victim of identity theft. One of my credit cards plus Wells Fargo card had unauthorized transactions. I filed a dispute with Wells Fargo regarding 2 transactions that occurred on 03/23/2020 in the amount of roughly $300 that sent my account into a negative balance. Wells Fargo refused to credit my account for the fraudulent transactions until they investigate the issue, furthermore they charged me $105 in overdraft fees today, March, 24th. I contacted their customer service and they said giving me temporary credit is up to the “ banker’s discretion”.”
They are not alone. Many customers have issues with denied fraud claims like this customer who explained, “We had fraud on a wells fargo credit card by a third party and after extensive time with a wells fargo banker, they declined our fraud claim. They claim that by using your credit card you are protected and it is a lie.”
Customers complain that their bank or credit card accounts are closed without their knowledge or explanation. They are often denied access to any funds in the account and may be unable to stop automatic transactions from hitting their accounts. This often results in overdraft or late fees being charged. In some cases, frustrated customers may have their accounts sent to collections causing them to be unable to open up an account at a different bank.
Customers who have experienced that issues often report that customer service is unhelpful or they receive conflicting information from different agents. Promised follow-up phone calls are typically not received. Customers often have to place multiple calls to customer service to find out the status of their problems.
“In 2014 I went through a hard time financially. I managed to keep all my payments on time. I asked Wells Fargo if I could get a “loan modification” to help me out. They said they couldn’t because I have been paying on time. The modifications are only for those that haven’t paid. BUT, the person told me that if I missed at least TWO payments I could qualify. I hated doing it, but I figured I could make the two payments later and clean up my credit. So I skipped two payments and applied. A little over a year later I received a certified letter from Wells Fargo.It said that due to my not providing them with requested information they were FORECLOSING on my home. They lied and lied and lied to me.”
If you have been experiencing a problem with a bank account, credit card, mortgage, loan, or insurance product through Wells Fargo and have not been able to resolve this with customer service, there is another option. FairShake helps frustrated customers who have tried unsuccessfully to have fees or charges removed by filing a claim. If you are at the end of your rope and just can’t seem to get a satisfactory resolution to your problem, we may be able to help you file a claim to recover your money. Find out how FairShake can help you today.