Complaints

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• 

  Wells Fargo Advisors

  1 N Jefferson Ave Saint Louis, MO 63103-2254

• 

  Wells Fargo Advisors

  1000 Broadway Ste 625 Oakland, CA 94607-4042

• 

  Wells Fargo Advisors

  10 Mechanic Street Worcester, MA 01608

• 

  Wells Fargo Advisors

  28100 US 19 N Ste 500 Clearwater, FL 33761-2687

• 

  Wells Fargo Advisors

  201 E 19th St Panama City, FL 32405-4717

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/21/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They are all in cahoots together and bully the customers, UNACCEPTABLE! Upon speaking With ******* on Tuesday, March 11, 2025, I am not pleased with the fraudulent results that I received. This is the second complaint that I have sent to WELLS FARGO with no results, only lies and fraudulent activity. Wells Fargo, AS A WHOLE, do not hold their employees accountable. They are allow to lie, mislead, project, and antagonize customers. Upon speaking with ******* *., once again, she stated the many errors were found and that she would give a resolution AND HELP but later lied, stating that she found no errors and could not help. This is not okay as I am in this situation simply because the lack of intelligence, comprehension, incompetence, and lying employees at Wells Fargo and the ***************** I have spoken with several of individuals and have been mislead each time. They all are fraudulent and its unacceptable. The lies that they tell and project onto paying customers is insane. ******* *., ******, and the entire executive office does not care about any~one other than themselves, they are the absolute worst! ******* *. will blatantly lie, admit to the many mistakes she found (on Wells Fargo behalf), state that shed help and do whatever she could to solve the issue, to then state that no errors were found and it was mistake. This is not okay as l am in this situation simply because the lack of intelligence, comprehension, incompetence, and lying employees at Wells Fargo and the ***************** I have spoken with several of individuals and have been mislead each time. They all are fraudulent and GOD IS NOT PLEASED WITH THIS. The list goes on, as this is not the half of what has occurred; as l am in this situation due to employees agreeing to agreements and later breaching the contact. They project this on to me, stating that they've listened to calls, found errors, and then lie. They are very incompetent and unprofessional!

  Business Response

  Date: 04/02/2025

  Please see the attached Bank response. 

• Initial Complaint

  Date:02/27/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Tax department/**************** created an escrow account on my behalf to pay taxes. However, I made those payments already to the tax departments. I called in on 2/14-they opened up a case and said "I only need to show proof of the payment and they will reach out to the agencies with the proof of those payments and request a refund. "We do not care if you pay those taxes, we just set up an escrow account because we are trying to help you-once we have all the documents and receive confirmation those payments were completed; we will go and fix the escrow account for you. "its February-we will have enough time to fix this for you-your payment will not change" I said great, I will upload those documents and when I got off the phone. I uploaded the documents and I called back on 2/20-to confirm the documents were received. Again, the 2nd ***** confirmed that the documents were uploaded. I again, explained to her that I do not want an escrow account and asked if I need to do anything to fix this. She went ahead and said, "we have everything we need, all we have to do is request a refund for the over payment. We will do so and you don't have to call back; everything will be resolved." Today 2/27-I received an email from one of the tax departments requesting information for me to receive a refund. I then call Wells Fargo again, he goes on to explain "on 2/25-the case was resolved with the tax departments sending me a voucher that needs to be filled out and I will get a refund directly. I said okay so what's going with the escrow account. Tax department transfers me to customer service, who tells me that there is nothing can be done. April my payment will double. I proceed to go and forth for 2.5 hours between departments telling me two different things again. The tax department says it's been resolved. **************** needs to remove the escrow account. But customer service says they cannot because the tax department states my taxes are delinquent.

  Business Response

  Date: 03/13/2025

  *************************************** Wells Fargo
  ************************
  ************** 57117-5133 *************************
  
  
  ********* C ******
  ************************************************************************************
  
  
  March 13, 2025
  
  Subject: We're responding to your concerns
  Case Number: *****************
  Account number ending in: 3289
  **********************, case number: ********
  
  Dear ********* C ****** :
  
  
  Thank you for your patience while we looked into your concerns. We've completed our research and are ready to
  share our findings.
   
  In the correspondence received, the following concerns were raised:
  
  Escrow concerns 
  Phone calls reviewed 
  **************** experience 
  
  Please find our response to the concerns listed below.
  
  Escrow concerns 
  
  Wells Fargo was given notice that your taxes were delinquent on January 28, 2025, so we paid them and opened
  an escrow account for taxes. 
  
  Once we received the tax documents you sent in, the tax office sent you a voucher to sign so you can obtain a
  refund of the overpayment. The refund is in the amounts of $8,222.58 and $1,046.51. This can take up to 30 to
  50 business days to get the refund. 
  
  To remove the escrow account, we need you to pay the negative escrow balance of $9,269.09 due to the
  disbursement of the taxes. We then can approve exception for removal of the taxes from escrow due to you
  stating you paid the taxes and then Wells Fargo paid the taxes. Your monthly payment will not change once the
  escrow account is removed. 
  
  2b1b0f34-9114-4574-8bc5-ca0abeede7ec
  
  2b1b0f34-{.-Mj-8bc5-ca0abeede7ec"
  Phone calls reviewed 
  
  We know your concerns are important and we wish to resolve them as quickly as possible for you. However, in
  order to assist you with your concerns, we need additional information from you.
  
  We're not able to provide the information asked for because we'll need more explicit details about the inquiry. 
  
  Here's what we'll need 
  
  Please provide us with specific dates and the representative's names you spoke so we can properly research your
  concerns and provide a response. Please send your detailed questions to us by fax or mail to:
  
  Wells Fargo Home Mortgage
  PO Box *****            
  **********, IA *****             
  Fax: **************
  
  **************** experience
   
  Customer satisfaction is something we take very seriously. We stride to provide the exceptional service our
  customers deserve and expect. We truly regret any frustration or stress that these issues have caused or if there
  was any miscommunication or missed telephone calls. It will always be our goal to assist our customers in
  succeeding financially and we appreciate your time. I have provided my call back number on the voicemails left for
  you on March 3, 2025, and March 5, 2025. There was also an acknowledgement letter mailed to you on March 3,
  2025, with a number to call with any questions. 
  
  How to contact us
  
  We appreciate the time and effort you took to contact us. We've determined the account was handled properly,
  and no corrections are needed as no error occurred. We accept telecommunications relay service calls. If you have
  questions or would like to request additional documents that support our research, please contact me at
  ************. I am available to assist you Monday through Friday, 7:30 a.m. to 4:00 p.m. Central Time. If you
  require immediate assistance and I am unavailable, other representatives are available to assist you at
  **************, Monday through Friday, 7:00 a.m. to 7:00 p.m. Central Time. 
   
  CC/Enc(s): Better Business Bureau
  Complaint ID: ********
  
  Sincerely,
  
  ***** H
  Executive Office Case Specialist
  ***************************************
  

  Customer Answer

  Date: 03/21/2025

  Complaint: 22999764
  
  I have reviewed the business' response and am rejecting it because:
  
  I need explicit instructions on how I make the payment and when I need to make the payment since my April payment has been changed due to the escrow forcibly added to my account.  My new April payment is $4583.96. Previously my mortgage payments were $1486.31. I agree to make the escrow repayment to Wells Fargo however I need my April mortgage statement to be updated. Essentially I would like to receive a statement for the escrow repayment along with a updated April statement reflecting the mortgage payment to be $1486.31.  I do not want to be forced to pay the $4583.96 plus the escrow repayment.  I dont want any of this to impact my credit report. 
  
  Sincerely,
  
  ********* ****** *******

  Customer Answer

  Date: 03/24/2025

  Hi!

  I rejected the offer only because I needed explicit instructions on how to move forward.  I am more than willing to pay the escrow payments but would like my April statement to be adjusted properly or a guarantee that I will not need to pay the updated payment with escrow.  

• Initial Complaint

  Date:02/26/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Summary $2,000 from my brokerage is missing the other $2,000 is locked up in a false *** T Violation 1.On 2/19/25 I opened a new Wells Fargo Brokerage Acct 2.On 2/20/25 I transferred $4,000 from my Wells fargo checking into my Wells Fargo Brokerage 3.I placed my first trade; Bought $4,000 of the *** ***4.On 2/21/2025 Wells closed my account and after multiple calls to managers they could not explain why it was closed.5.On aprox 2/23/25 the account was re-opened. Still nobody knows why it was closed and/or re-opened. The manager said it happens all the time and they (compliance) never tells him why.6.I lost confidence so sold aprox $2,000 of the *** 7.On 22/24/2025 I was given a *** T Violation. As you can see from the chronology I did nothing to cause this as the *** was fully settled when I placed the sell.8.I then find out that the *** T violatiin was because the trade was made with no money in the account. Which is ridiculous because no brokerage would allow a trade to go through if sufficient funds arent in the account. Besides I have proof of the money going form checking to brokerage and ***** (manager) confirmed he sees that transfer as well.9.The account appears to have zero funds (while Im still long aprox $2,000 of ***) which caused the *** T violation.10.I want and need my $4,000 NOW and all they can say is they are investigating. *****. I have put them on notice I want my money and I want the account closed. I further warned them that they better not report me to Early Earning, Check Sys, etc which would mar k my repuation and ability to get bank or brolerage accounts. I clearly did nothing to precipitate such action.12.12. A significant issue is a firm closing your account and not having to tell you why AND management not even knowing why.13.I have also filed a complaint with FINRA.14.Please help me get my money ASAP.Brokerage acct# ******** WF Case # ************* Thank you,******** ******* ************

  Business Response

  Date: 03/13/2025

  Enterprise ********************* Office 
  PO Box 5133 
  **************************;
  
  March 13, 2025 
  
  ******** *. Matican 
  *******************************;
  ***********, ID **********
  
  Subject: Were responding to your concerns 
  Wells Fargo case numbers: *****************, *****************, 06202502266102152, 
  06202502276111305, *****************, *****************, 06202502286122228, 
  06202503046149480, 06202502276117236 
  Account number ending in: 1821 
  **********************, case number: 22992818 
  Securities ******************** case number: 01455878 
  Client name: The Bank of Commerce *********** CPM TR ******** P. ******* TTEE 
  
  Dear ******** P. *******: 
  
  Thank you for contacting us. We are responding to the multitude of problems you have had throughout your 
  experience with Wells Fargo Advisors regarding your brokerage account ending in 1821. You filed multiple 
  complaints and with regulatory agencies to seek clarification on what occurred. We understand the importance of 
  these matters and appreciate your patience as we worked to address them, and we would like to provide you with 
  our findings.  
  
  Please know that our intent is to provide hassle-free service to all customers with the most professional, 
  courteous, and efficient financial services. We regret any frustration or inconvenience you experienced throughout 
  this ordeal. We acknowledge the concerns you raised regarding funds totaling $4,000 missing from your account, 
  and your account being restricted and closed without an explanation.  
  
  Furthermore, on March 5, 2025, we spoke with you regarding your concerns, during which you reiterated your 
  frustration over the multiple call transfers, repeated verifications, and lack of clear communication and follow-up. 
  You also expressed concern over the inability to submit only the missing pages of your forms, as well as the impact 
  of the account closure on your ability to deposit additional funds. 
  
  
  
  
  We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and 
  how we use it, see the Wells Fargo California Consumer Privacy Act Notice at Collection at *********************************************************************
  security/notice-of-data-collection/. See additional Wells Fargo privacy notices at *********************************************************************security/. 
  
  
  Investment and Insurance Products are: Investment products and services are offered 
  Not Insured by the **** or ***************************** through Wells Fargo Advisors, a trade name used by 
  Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Wells Fargo Clearing Services, LLC, Member SIPC, a 
  Affiliate registered broker-dealer and non-bank affiliate of 
  Subject to Investment Risks, Including Possible Loss of the Principal Amount Wells Fargo & Company. 
  Invested 
  
  
  ECMO-BT173_Res_M_E_052024 
  Account Opening and Documentation Issues 
  
  Upon reviewing our records, we confirmed that you opened your self-directed WellsTrade personal trust account 
  ending in 1821 on February 19, 2025. On February 20, 2025, you submitted multiple Margin Agreement forms, 
  however, they were determined not to be in good order due to missing pages and a requirement for a physical 
  signature. Additionally, on February 21, 2024, a business decision was made not to hold the account, leading to a 
  restriction being placed.  
  
  Regulation T Violations and Account Restrictions 
  
  Our records further indicate that a stock trade placed on February 20, 2025, resulted in a Regulation T violation. 
  Specifically, you purchased 43 shares of SPDR Bloomberg 1-3 Month T Bill, symbol BIL, without sufficient available 
  funds. Since the trade remained unpaid, we liquidated the shares in accordance with firm policy, resulting in a debit 
  balance of $22.94. In accordance with Regulation T, a 90-Day Freeride Freeze restriction was applied to the 
  account. 
  
  Deposit Rejection and Account Closure 
  
  Please note that while you initially deposited funds into the linked Brokerage Cash Services (BCS) account 
  immediately after opening your account, the deposit was initially recognized as in pending deposit status, 
  allowing trading; however, a subsequent supervisory review resulted in a hard hold being placed on the BCS 
  account ending in 3420. As a result, the deposit was denied, and the trade remained unpaid. We would like to 
  clarify that this failure to pay was not due to any action on your part. 
  
  Please understand that Wells Fargo Advisors has always prided itself on its commitment towards providing the 
  highest quality service to all of our customers. Despite this commitment to service, we occasionally experience a 
  situation whereby the needs or expectations of a client are not compatible with what we are in a position to offer. 
  Therefore, we have exercised our option under your Client Agreement to terminate the above-referenced account 
  with our firm. 
  
  Concerns regarding Inadequate Service 
  
  Although we understand that this decision may have caused a great deal of frustration, specifically with a lack of 
  communication and follow-up phone calls, we would like to reiterate that with WellsTrade accounts being self-
  directed, there is no requirement to contact a client and any attempts to contact via phone are done as a courtesy.  
  
  We also regret any inconvenience with the multiple call transfers and phone verification that you experienced 
  while seeking clarification. Please know that Wells Fargo Advisors takes the confidentiality of client information 
  very seriously, and we adhere to strict internal policies regarding client information. Our representatives must be 
  diligent in their efforts to ensure that the account owner is the person providing the identifying information to 
  ensure that they are not exposing our clients to increased risk, potential fraud, and possible theft. Until proper 
  authentication of a client is confirmed, our representatives cannot proceed with resolving the reason for the call. 
  
  We confirmed that our contact center representatives worked diligently to address your concerns, ensuring 
  security protocols were followed before servicing your account. Our records confirm that our representatives 
  explained the negative balance, account freeze, and impending closure during multiple interactions.

  
  Return of Funds and Account Resolution
  
  Ultimately, on February 26, 2025, a total of $4,000 was returned to your Wells Fargo Everyday Checking Account
  ending in 4800. Our contact center continued to assist you in resolving the debit balance, and on March 4, 2025, a
  debit write-off was processed. Your WellsTrade account ending in 1821 was subsequently closed on
  March 5, 2025. Moreover, since the account has been closed, further deposit will not be possible.
  
  While we acknowledge your request for compensation, we regret to inform you that we will not be able to
  accommodate this request, as the account closure was conducted in accordance with our firms policies. Following
  our conversation on March 5, 2025, we understand your desire for further investigation and clarification.
  Regrettably, we are unable to provide additional information beyond what has already been communicated. Please
  know that our decision aligns with the terms outlined in your Client Agreement. We retain the right to take any
  action permitted under your Client Agreement, and we would like to refer you to your General Account Agreement
  and Disclosure Document for questions regarding client termination.
  
  Additionally, we acknowledge your concerns about potential impacts on your credit reporting or ChexSystems, and
  we encourage you to contact the relevant credit bureaus for further guidance or inquiries. Any consumer is entitled
  to a free annual report from each ************************** including ChexSystems. To request a copy of your
  credit report, please visit the ChexSystems website or call **************.
  
  We remain committed to assisting you further and should you have any additional questions about your account
  or this process, please contact our WellsTrade representatives at 1-800-TRADERS ***************). They are
  available Monday through Friday, 7:00 a.m. to 11:00 p.m. Central Time.
  
  Case status
  
  We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
  to address any remaining or new concerns.
  
  How to contact us
  
  We appreciate the time and effort taken to contact us. If you have questions, you may reach us at
  ****************************, Monday through Friday from 8:00 a.m. to 4:00 p.m. Central Time. We accept
  telecommunications relay service calls.
  
  Sincerely,
  
  **** *.
  Escalations Representative Registered
  Enterprise ********************* Office
  **********************************
  

  Customer Answer

  Date: 03/14/2025

  Complaint: 22992818
  
  I have reviewed the business' response and am rejecting it because:

  WOW. As a past licensed registered principal and registered *** with several large well known firms and a current, full time retail trader, I can say without a doubt your firm COMPLETELY MESSED THINGS UP DUE TO NO FAULT ON MY OWN. Your summary completely misses the point where you screwed up. Let me summarize for the record.

  1. I transferred funds within the Wells system from my Wells checking to my new Wells brokerage. Funds did not indicate any hold and my experience says there was no need for a hold as those were good fiunds moved from my Wells bank account AND if there was a need for a hold the system would not have allowed me to make the trade. I made a valid trade and was filled without issue.

  2. Admitedely I screwed up the margin paperwork but was assured by Distric Manager **** ******** that in no way would that have caused an account freeze or closure. He stated people s**** up paperwork submission all the time. I am still not clear if that caused the issue or not. This is a seperate complaint, lack of transparency / communication. But...since the account was re-opened it appears it wasn't the margin paperwork. Then what ???? I styill don't know what "I" did wrong. 

  3. You slapped a Reg T violation on me that you cite in your response as if I was responsible for it. Money was moved from my checking to my brokerage without issue or any hold I could know about. I bought securities. You closed my account the money then went missing and that caused a violation. I had no part in that mess up. If for some still unclear reason you wanted to close/freeze my account that has nothing to do with a Reg T violation. Again, funds were cleanly in my account, your system would not allowed a trade if the funds weren't okay to trade. This is key so caps for emphasis; AFTER THE CLEAN TRADE YOUR FIRM CLOSED ACCOUNT, FUNDS WENT MISSING, I HAD NO PART IN ANY OF THAT, NOR COULD I. BOOOOOM REG T VILOATION. TELL ME AGAIN, HOW DID I CAUSE THAT? I DID NOT. YOUR FIRM CLOSED/MOVED FUNDS AND CAUSED IT. I will not allow the record to stand that I somehow was responsible for any part of this mess. The only thing I did wrong was fill out margin paperwork wrong. I didn't receive a call to clarify that so if that caused this mess (again still unclear on what happened here) maybe a phone call to ask about the paperwork errors would have been helpful. According to District Manager they are quite common. He also said "6 figure accounts get closed all the time, and they never tell me why." When I was in the business compliance/security issues were transparent to both the customer but certainly among employees. I guess things have changed.

  4. UNBELIVABLE LACK OF LEADERSHIP COMMUNICATION. After my very nice phone call from an understanding manager (whom acknowledged the money moved from checking into brokerage and did not mention a hold), ***** refused to contact me a second time. After I got my money back all I wanted was clarity on what happened. Mistakes happen. Had things been clearly explained to me and maybe a token compensation (as ****** has done when an error occured) I'd still have the account and still be funding it with the proceeds of my real estate sale (btwn $250k - $500k was intended fior that account).

  5. In a contunation of confusion at Wells Fargo I was contacted by "****" from the "Executive Team" or somethiong like that. I returned his call and was told actually it was **** (who drafted the BBB response) and he would have **** call me. Several days or a week later guess who called me back? **** ! I gave **** an exhaustive review of events. Minutes later I get another called from a different **** from the Executive team. Confused I tell him "we just spoke" and he informs me "no we didn't, this is my inital call." So...contacted by two different ***** right after each other from the Executive team while the whole time **** was handling it????? Who knows what's going on at your company.
  
  In summary, I made a very simple trade, made a msitake on margin paper (was assured that had nothing to do with acct closure) a series of events un-fold to which I had no part in causing multiple issues. My account re-opens but with funds missing. A Reg T violatioon gets slapped on me because of the missing funds. Nobody from management calls to give me clarity (after calling daily), then ****, **** and **** from the Executive team mystery and I still have a borkerage cash management account open that I gave up calling to have closed.

  Something at your brokerage is broken, the most irritating was the lack of contact from leadership during and after the mess.

  
  Sincerely,
  
  ******** *******

• Initial Complaint

  Date:02/25/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My complaint is in regard to my interactions and conflicting information received from the Wells Fargo ******************* My family seeks to close my brother's estate and distribute his residual assets to his 4 designated beneficiaries. We continue to receive conflicting information about what is required to close this account. On 2/11/2025, I was told all the paperwork was in place and the funds will be available in 3-5 business days. Yesterday, 2/25/2025, I was told all 4 beneficiaries have to send in a "letter of instruction" on how to distribute the remaining funds in my brother's account. My brother clearly stated each beneficiary will receive 25%. All necessary paperwork from all four beneficiers was provided months ago and nothing has changed regarding the information provided. Why does Wells Fargo need another letter from the beneficiaries stating the same thing? This seems to be just another ongoing tactic to delay the disbursement of the residual funds in my brothers account. Throughout the past 6 months, we have continually received incorrect and conflicting requirements from the ****************** personnel. We have placed dozen of phone calls during the past six months to the Wells Fargo ****************** and feel extremely disappointed and frustrated that we continue to get a run-around response.

  Business Response

  Date: 03/07/2025

  Please see attached bank response. 

  Customer Answer

  Date: 03/08/2025

  Better Business Bureau:
  
  I have reviewed the business' response regarding complaint ID ******** and am satisfied with this resolution. 
   
  Sincerely,
  
  ******* ******

• Initial Complaint

  Date:02/24/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was not advised that Wells Fargo sold their 401K investments to Principal. When I called Wells Fargo to roll over my 401K, they informed me that all accounts are with the Principal and asked me to contact them. The ************* representative advised me they do not have my 401K funds, and I'm not in their system. When I called Wells Fargo back and after 2 hours on the phone being transferred, I was told that Wells Fargo could not provide any information and that my 401K was not with them. I have a letter dated 9/15/2015 from WellsFargo Institutional Retirement and Trust D1116-055, ***********************************************************************************************************************************************, confirming that I stopped contributing to this 401K when I left RadioShack.

  Business Response

  Date: 02/28/2025

  Please see the attached Bank response. 

• Initial Complaint

  Date:02/11/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I am submitting this complaint regarding WellsTrades mishandling of my account verification process, repeated and arbitrary rejections of my documents, and the unjust restriction of my brokerage account, which has prevented me from making any transfers or withdrawals.December 26, 2024 I opened a WellsTrade brokerage account.January 9, 2025 I received a request from WellsTrade to submit identity verification documents, including my ID, SSN card, Permanent Residence (PR) card, and proof of address. I promptly provided these. They repeatedly got rejected, until a WellsTrade supervisor submitted them on my behalf.January 23, 2025 WellsTrade unexpectedly requested a notarized copy of my PR card. On the same day, I visited a Wells Fargo branch, where my PR card was notarized and faxed to WellsTrade.February 11, 2025 WellsTrade informed me that my notarized PR card was rejected due to an unclear picture, which is completely false. The document was notarized at a Wells Fargo branch, clearly legible, and would stand up to scrutiny in any legal setting. To make matters worse, because the notarization expired on February 4, 2025, I am now required to repeat the entire process, all while my account remains restricted, preventing me from making any transfers or withdrawals.Issues of Concern:1. Arbitrary and Unjust Document Rejections I followed all instructions and provided all requested documents in a timely manner, yet WellsTrade repeatedly rejected them without clear justification or providing clear instructions .2. Unfair and Bad Faith ******** of My Notarized PR Card The document was notarized by Wells Fargo itself, yet it was still rejected for an invalid reason. This raises serious concerns about potential bad faith actions or discriminatory treatment.3. Unjust Account Restriction Due to WellsTrades failures, my account has been restricted indefinitely, causing financial and emotional distress.4. Lack of a Physical Location for Resolution.

  Business Response

  Date: 03/03/2025

  ***************************************
  PO Box 5133
  *********************
  
  
  February 28, 2025
  
  
  
  ******* **
  *************************************>Unit 215
  *****************-7212
  
  
  Subject: Were responding to your concerns
  Wells Fargo case number: *****************
  Wells Fargo case number: *****************
  Wells Fargo case number: *****************
  Wells Fargo Case number: *****************
  Wells Fargo Case Number: *****************
  Consumer *************************** case number: 250212-18715818
  Better Business Bureau case number ********:
  Financial ***************************** case number: ***********
  Account number ending in: 1843
  
  
  Dear ******* **:
  
  
  Thank you for your patience while we looked into your concerns. Weve completed our research and are ready to
  share our findings.
  
  You contacted the ************************************, Better Business Bureau, the Financial Industry
  Regulatory Authority and expressed dissatisfaction with the Wells Fargo Advisors (WFA) account verification
  process. You further expressed the following:
  
  Mishandling of the account verification process.
  Not being provided clear instructions to submit the documentation.
  Repeated and arbitrary rejections of your submitted documentation.
  Misinformation, stating the documentation was unclear, but later determining it to be clear, suggesting
  the rejection of the documentation was in bad faith and possibly discriminatory treatment.
  
  
  We may collect personal data as part of the complaint resolution process. For the categories of personal data that Wells Fargo may collect and
  how we use it, see the Wells Fargo California Consumer Privacy Act Notice at Collection at *********************************************************************
  security/notice-of-data-collection/. See additional Wells Fargo privacy notices at *********************************************************************security/.
  
  
  Investment and Insurance Products are: Investment products and services are offered
  Not Insured by the **** or ***************************** through Wells Fargo Advisors, a trade name used by
  Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or ******** Wells Fargo Clearing Services, LLC, Member ****, a
  Affiliate registered broker-dealer and non-bank affiliate of
  Subject to Investment Risks, Including Possible Loss of the Principal Amount Wells Fargo & Company.
  Invested
  
  
  ECMO-BT173_Res_M_E_052024
  The unjust restriction of your brokerage account which has prevented you from making any transfers or
  withdrawals causing financial and emotional distress. You requested the immediate removal of the
  restriction.
  A request to speak to a supervisor over the length of time to have this issue resolved.
  The lack of a physical branch location to resolve this in person is inefficient, and results in an
  unaccountable and flawed digital-only process.
  A formal review of why your notarized permanent resident card was rejected and the employees
  responsible.
  Finally, a written response addressing the steps WellsTrade will take to resolve this matter.
  
  We follow all federal and state laws and regulations that prohibit discrimination. We dont tolerate discrimination
  of any kind and take each allegation regarding misconduct seriously. Were committed to fixing any issues and
  making things right for you.
  
  Wells Fargo is committed to the equal and fair treatment of all our customers. We demonstrate this commitment
  by:
  
  Originating and servicing financial products according to the terms and conditions of all applicable
  documents.
  
  Servicing all loans and products in compliance with federal and state regulations.
  
  We reviewed the information you provided and found that the team followed our policies or procedures to review
  the submitted documentation. Based on this research, there was no evidence to support your claim. If youre able
  to provide additional details, well review the matter again.
  
  Our review found you opened a new account on December 27, 2024. Please understand that Federal law requires
  Wells Fargo Advisors to obtain sufficient information to verify the identity of our clients. In order to comply with
  Federal law, we attempt to verify our clients through public record, requesting documents if verification is not
  successful, and account restrictions or closures if clients cannot be verified. As a Non-United States citizen, a
  notarized Permanent Resident Card is considered an essential document for verifying the identity of our client and
  is required for an account to be considered in good order. This is called the Customer Identification Program (CIP).
  
  After a review by our *** team, it was determined a notarized permanent resident card was required to complete
  the account opening process. Our records found multiple contacts with our service center. On February 4, 2025,
  you spoke to Lead Trading Enablement Assistant ***** *. who learned the submitted permanent resident card
  could not be read. Further review found you again requested to speak to a supervisor on February 11, 2025, the
  call was disconnected before you had an opportunity to speak to one. We received a copy of the requested
  documentation on January 23, 2025. An e-mail was sent to you on advising to submit an updated copy of your
  permanent resident card with a banker or notary stamp. When the documentation was rejected a restriction was
  placed on the account on January 24, 2025. Our records found more than one submission of the permanent
  resident card until we received a clear image on February 12, 2025. After receiving the submitted copy on
  February 12, 2025, the *** team removed the restriction from account ending in 1843. We spoke to you on
  February 13, 2025, and confirmed the account is ready for use.
  
  Please allow us to apologize for any frustration or inconvenience this matter may have caused. Please understand
  that the account you have with ******************** is housed with our WellsTrade self-directed line of business.
  As such, you are responsible for managing, researching and ensuring the accuracy of all documentation, account
  features and investments. For additional questions regarding your account or this process, please contact our
  WellsTrade representatives at 1-800-TRADERS ***************). They are available Monday through Friday,
  7:00 a.m. to 11:00 p.m. Central Time.
  
  Case status
  
  We have closed the case as of the date of this letter. If we receive additional information, we will open a new case
  to address any remaining or new concerns.
  
  How to contact us
  
  We appreciate the time and effort you took to contact us. If you have questions, you may reach me at
  ****************************, Monday through Friday from 8:00 a.m. to 4:30 p.m. Central Time. We accept
  telecommunications relay service calls.
  
  Sincerely,
  
  **** *.
  Escalations Representative Registered
  ***************************************
  **********************************
  
  
  

• Initial Complaint

  Date:01/23/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  To Whom It May Concern,I am submitting this complaint regarding a 401(k) retirement acct I previously held with Wells Fargo, which is no longer accessible or available. The **** was funded through two rollovers from my prior retirement plan with *. **** Price. Details of these transactions:On 9/1/2015, a rollover of $1,910.46 was transferred to my Wells Fargo 401(k) acct.A second rollover of $28.37 was also transferred.Both checks were mailed by *. **** Price to: Wells Fargo Institutional ****************** **************************************************** Upon contacting Wells Fargo for info, I was informed they have no records in my name. I was advised their 401(k) plans were transferred to ************************* in 10/2021, and that Principal should have all my info. However, ************************* stated they have no records of my 401(k) acct.Following Principals advice, I contacted Wells Fargo again for my acct history while under their management. They claimed they do not have that info either, which is concerning as financial institutions are required to maintain transaction records.I later contacted *. **** Price, which provided check details, confirming they were issued in my name & successfully cashed by Wells Fargo:Check #******** Written: 9/2/2015 Cashed: 9/14/2015 $1,910.46 Check #******** Written: 11/25/2015 Cashed: 12/7/2015 $28.37 Despite this confirmation, Wells Fargo has not provided any records of my 401(k) acct while in their possession.I am requesting Wells Fargo locate my retirement plan or issue a full check for the total rollover *** of $1,938.83 ASAP. It is deeply concerning that my retirement savings cannot be located, & I seek immediate resolution.Please advise on the next steps to resolve this matter promptly.Sincerely,******* *******

  Business Response

  Date: 01/29/2025

  Please see attached business response.

• Initial Complaint

  Date:12/09/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Wells Fargo State Care Center, that outsources work to the ***********, has delayed transfer of funds for 4 months and has continued to misdirect to delay transfer of funds from an estate account. As executor I send different forms verifying that I am executor of ***** B ********* estate (Will, Trust, Certificate of Affidavit Colorado, Certificate of Affidavit California, Declaration of Probate California).

  Business Response

  Date: 01/10/2025

  Please see the attached Bank response. 

• Initial Complaint

  Date:11/18/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I filed a complaint (********) with the BBB and it was marked complete but it is not. Wells Fargo will not close out an inherited **** This is causing the estate to not be able to close.Original date was 9/11/2025

  Business Response

  Date: 12/23/2024

  Subject: We're responding to your concerns

  Wells Fargo case number: *********************************** Account numbers ending in: 3450, 3100

  **********************, case number: ******** Client name: ********* Mo ******

  Dear ****** ***** ****:

  Thank you for contacting us. We would like to express our sincere condolences for the loss of ******* **** ******. We completed our research and are providing details to address your concerns shared on November 19, 2024, regarding the process of transferring your estate account.

  Please know that our intent isto provide hassle-free service to all customers with the most professional, courteous, and efficient financial services. The Beneficiary Claim form we received on August 30, 2024, contained missing information regarding the receiving inherited estate account, such as the account title and account number. The Surviving Child Certification form we received on October 15, 2024, contained missing information for the surviving children, such as name, address, Social Security Number, Date of Birth, and email.

  Each estate transfer varies in its complexity and state requirements. We understand that this can be an inconvenient process and are working diligently to make this a smoother transition for our clients. Please allow us to apologize for the frustration these matters have caused, including inaccurate and conflicting information that you have received throughout your experience. We are pleased to confirm that your Beneficiary Claim form was received in good order on November 20, 2024, your account was transferred on December 2, 2024, and securities were liquidated on December 4, 2024.

  Should you have any additional questions about your account or this process, please contact our WellsTrade representatives at 1-800-TRADERS ***************). They are available Monday through Friday, 7:00 a.m. to 11:00 p.m. Central Time. Please know that we value you as a client and appreciate the privilege of assisting you with meeting your financial goals.

  Case status

  We have closed the case as of the date of this letter. If we receive additional information, we will open a new case to address any remaining or new concerns.

  How to contact us

  We appreciate the time and effort you took to contact us. If you have questions, you may reach me at

  **************************, Monday through Friday from 8:00 a.m. to 5:30 p.m. Central Time. We accept telecommunications relay service calls.

  Sincerely, ******** *.

  Escalations Representative - Registered

  Enterprise **************************** **********************************

• Initial Complaint

  Date:11/14/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My mother left me an *** four years ago and I have been trying to transfer the funds out of Wells Fargo Advisors. I've called over 40 times and every time I call the ***************************** they keep requesting more and more documents or say that the documents were filled out incorrectly and it is a never ending nightmare of document requests. There is no extension and no email so I can't talk to the same person. Every time I call, I talk to a different incompetent person and they give a different answer and request a different document. This has been going on for FOUR YEARS and it just keeps going in circles. They are holding my money hostage and refuse to transfer the funds that are entitled to me.

  Business Response

  Date: 12/05/2024

  Dear ***** ******:

  Enterprise ****************************

  PO Box 5133

  *********************

  Thank you for contacting us. We completed our research and are providing details to address your concerns. We're responding to concerns you expressed to the Better Business Bureau, which we received on November 15, 2024. Specifically, you stated:

  You have been trying to transfer the funds.

  You have called over 40 times and each time the ***************** requests more documents and informs you forms have been filled out incorrectly.

  That there is no direct phone number, email and one point of contact.

  *** associates you speak with are incompetent and provide different information and request different documents.

  This has been going on for 4 years and keeps going in circles.

  Your money has been held hostage as Wells Fargo has not transferred the funds which are entitled to you.

  Wells Fargo Advisors strives to provide outstanding service and we apologize your experience fell short of your expectations. Please understand that when a client passes away, accounts must be managed in accordance with estate laws, industry rules, and Firm policies and procedures. ***re is a multitude of information including multiple documents required to be on file, and in many cases, a new account is required to be opened and in good order before we can disburse funds. Due to these requirements, the estate process can be complex and cumbersome.

  We can confirm the beneficiary of this account is a trust, in which you are not a trustee. More documents were requested for this distribution as your mother passed overseas.

  We can confirm a new trust account was opened on November 6, 2024. Our records show that we received the new *** Beneficiary Claim Form on November 22, 2024. However, we were missing additional documents. On November 27, 2024, our ********************************** Team noted we require IRS Transfer Certificates or the United States court appointment of a US executor before we can proceed with a transfer of the assets. On December 3, 2024, we received your court documents and as of the date of this letter, our ********************************** Team is currently reviewing the documents received and further communication will be sent if there are additional documents needed.

  Should you have any additional questions regarding the estate distribution, the ********************************** Team can be reached at **************, Monday through Friday from 7:00 a.m. to 5:00 p.m. Central Time.

  Case status

  We have closed the case as of the date of this letter. If we receive additional information, we will open a new case to address any remaining or new concerns.

  How to contact us

  We appreciate the time and effort you took to contact us. If you have questions, you may reach me at

  *****************************, Monday through Friday from 8:30 a.m. to 5:00 p.m. Central Time. We accept telecommunications relay service calls.

  Sincerely, **** *.

  Escalations Representative - Registered

  Enterprise **************************** **********************************