Complaints

This profile includes complaints for Wells Fargo Advisors's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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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

  6075 Poplar Ave #650 Memphis, TN 38119

• 

  Wells Fargo Advisors

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

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:12/17/2022

  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.

  As a long time customer I opened a new Wells Fargo Advisors account. Due to a back office mistake by Wells, they needed to re-verify my social security number and put a restriction on my account without notice. I was informed when I tried to trade and withdraw funds. I contacted them and on 3 separate occasions I re-submitted a W-9 and was told the restriction would be lifted. It has now been more than three weeks and I still have no access to my money. I have contact them on at least a dozen occasions, filed 3 formal complaints, had multiple escalation requests and had local branch personnel also contact and request escalation. They have prohibited me from access to a significant amount of money and I can do nothing with my account.

  Business Response

  Date: 12/27/2022

  ********** ********** ********** ******
  ** *** ****
  ***** ****** ** *****
  
  
  December 27, 2022
  
  ***** ******
  ***** ******** ****** ****
  ******* ** **********
  
  
  Subject: We’re responding to your concerns
  Case number: ***************** 
  Account number ending in: ****
  Better Business Bureau: Case number ********
  
  
  Dear ***** ******:
  
  Thank you for your patience while we looked into your concerns. We’ve completed our research and are ready to
  share our findings.
  
  We received your concerns regarding the difficulty experienced while trying to complete the new account opening
  process, verify your social, remove the restriction from your account and the overall poor customer service you
  feel you received while trying to resolve this issue.
  
  Please be advised that when anyone opens a new account with Wells Fargo Advisors, we use the data you provided
  to us and verify it in our ********** database. If anything comes from ********** that they were unable to verify,
  then we are required to get a physical copy of the unverified information to confirm the identify of our client’s and
  complete the new account opening process. In your case, ********** was unable to verify social security number,
  which caused a temporary restriction to be placed on your account until we were able to verify your information.
  
  Please also note that from our research we can confirm that the new account opening document you filled out had
  a social security number for you starting with ***, however, the W-9 form we received showed a social security
  number starting with ***. The removal of the restriction was delayed due to the discrepancies between the social
  security numbers that we received.
  
  However, we can verify that after we received your updated W-9 on December 05, 2022, we were able to verify
  the required information and remove the restriction from your account. We can confirm that on December 21,
  2022, your funds were transferred out of your brokerage account into your bank checking account ending in ****.
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  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
  *********************************************************************** 
  See additional Wells Fargo privacy notices at
  *********************************************
  
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  
  We sincerely regret the frustration, inconvenience, and overall poor service you feel you have experienced
  throughout this process. We also highly value your feedback, as we use your feedback as our primary tool in
  improving our products and services. If you have additional questions, please reach out to our Investment Contact
  Center at ************** ****************, Monday through Friday, 7:00 a.m. to 11:00 p.m. Central Time.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  us at *************** ********* *******. We’re ready to help you Monday through Friday from
  8:00 a.m. to 5:00 p.m. Central Time. We accept telecommunications relay service calls.
  
  Sincerely,
  
  ***** **
  Executive Office Case Specialist
  Enterprise Complaints Management Office
  
  CC: Better Business Bureau

  Customer Answer

  Date: 12/28/2022

  Complaint: ********
  
  
  
  I am rejecting this response because:  Please provide physical evidence that I filed a document with the incorrect personal data.  Further, the W-9 was initial processed prior to December 1 and per your own representatives, it was finally submitted for processing to "the back office" on December 1st.  The 20 days for this to actually be worked on and having the funds released was further extended as the "Hard Hold" as it was described to me was not correctly released causing further actions by me.  I lost the liquidity and earning potential of these funds during that time.
  
  
  
  
  
  
  
  Sincerely,
  
  
  
  ***** ******

• Initial Complaint

  Date:12/15/2022

  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.

  As executor of an estate, I have been trying to claim a IRA from a deceased person since April of this year. At first, they had me set up an new IRA account. When I inquired why the transfer hadn't occurred, they informed me that they set up the wrong kind of account. So in July, I submitted new paperwork as instructed. When I called to inquired on status (never get any updates), I was told that the wrong type of account was set up again. In early August, I submitted new documentation for a third new account. Again, I received no updates, but did receive an email indicating additional info was needed, but their system wouldn't let me access any messages. When I called to inquire, I was informed that they were missing necessary documentation, but were able to find it from my many other submissions and account would be sent for approval to transfer. That was in early September. I received no updates at all unless I call them. I've been calling now since November every 3 days or so, now daily, and just get the same canned response (even when asked to speak to a manager), that they are expediting the request. On latest call this morning, they confirmed that it been transferred, but not to worry because two days ago they put in an expedited request with the processing team to post it to the new account (what happened all of the expedited requests).
  I'm never doing business with WF again, and surely won't recommend that any of my clients deal with them either.

  Business Response

  Date: 03/28/2023

  Please see the attached Bank response.     

  We are writing in response to the concerns that you recently expressed to us during your call to the Wells Fargo Advisors (WFA) ****** **** representative on December 15, 2022, and to the Better Business Bureau (BBB).
  These concerns were pertaining to the new account opening issues as part of the claim process for the WFA Individual Retirement Account (IRA) in the name of ********* ** ****** ending **** and the lack of customer service that you received. WFA's intent is to provide hassle-free service to all customers with the most professional, courteous, and efficient financial services and we apologize for the inconvenience of this process, and that your experience has fallen short of your expectations. Thank you for your patience while we looked into your concerns. We've completed our research and are ready to share our findings.
  Our records indicate that you contacted the WFA ****** ********** **** (WTE) on April 18, 2022, to discuss the requirements to process the claim for *********** IRA account and the representative reviewed the WFA forms and legal documents required and sent a follow-up email communication to you recapping the requirements. We confirmed, as follow-up to this communication, you spoke to ********* ************ *******, ***** *****, on April 21, 2022, and established the *********** *********** IRA per the WTE guidance provided.
  We verified that we were unable to process the original claim we received on April 25, 2022, and communication was sent to you on May 3, 2022. We confirmed that this explained that the *********** account registration established was the incorrect account type to receive the assets from account ending **** and that we advised an Estate account would need to be established.
  Further research verified that you spoke with a WTE representative on July 25, 2022, who again advised an estate account would be required and that you spoke with ********* ********* ************ *******, ******** *******, who opened the *********** Estate Account in the name of ********* ******.
  We verified that you resubmitted the revised paperwork with the Estate account as the receiving account for the claim on July 26, 2022, and we were unable to process this due to the issues with the receiving account registration. Our records confirmed that the WTE team sent communication to you to explain that an Inherited IRA under the Estate name, is the acceptable registration to complete this claim and that you established this account on August 1, 2022.
  We verified the new claim paperwork was received and the additional WFA requirements were completed for the newly established IRA ending **** and the claim was successfully processed on December 27, 2022.
  In conducting our research, we noted these issues with WFA inadvertently providing incorrect information regarding the receiving account registration and the lack of apparent customer service you received. Considering your experience and the delays with this claim, we would like to assure you that your feedback will be forwarded to the appropriate department for review and enhancements.
  For additional questions about this account, please contact our *********** representatives at **************. They are available Monday through Friday, 7:00 a.m. to 11:00 p.m. Central Time.
  
  
  

• Initial Complaint

  Date:12/14/2022

  Type:Customer Service 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 father passed away 10/18/22 and I am the sole beneficiary of his IRA held with Wells Fargo. 75% of his IRA was held in cash and 25% was held in stocks and mutual funds. On 11/18/22 I submitted paperwork to have the entire balance of stocks and cash rolled into my own inherited IRA as I am the sole beneficiary. On 12/1/22 the stocks and mutual funds were transferred to my inherited IRA account I opened with Wells Fargo. I am still waiting on the cash to move to my inherited IRA. I have called several times and no one has any answers. Wells Fargo said they filed an escalation with management on 12/8/22 and that I would hear back within 24-48 hours. As of today 12/14/22 I still do not have the cash balance in my account and I have not received a phone call from WF management. I call and no one gives me an answer.

  Business Response

  Date: 12/28/2022

  ********** ********** ********** ******
  ** *** ****
  ***** ****** ** *****
  
  December 28, 2022
  
  ******* ****
  *** ******** ******
  ********** ** **********
  
  
  Subject: We are responding to your concerns
  Case number: ***************** and ***************** 
  Account number ending: **** and ****
  ****** ******** ******, case number: ******** 
  Client name: ****** ****
  
  
  Dear ******* ***** 
  
  We are responding to concerns that were expressed in a complaint that was filed with the ****** ******** ******,
  case number ********, and with our Board of Directors. We are sorry to hear about the passing of ****** *****
  We realize this can be a difficult time for you and your family. Thank you for contacting us with your concerns. We
  have looked into it for you and are ready to share our findings.
  
  In reviewing this issue, we see that we have responded to your concerns on December 22, 2022, in a letter which
  we have enclosed with this response.
  
  If you have any additional questions regarding the accounts, please contact our ********** ******* ****** ***** 
  at ************* ****************, Monday through Friday, 7:00 a.m. to 11:00 pm Central Time.
  
  How to contact us
  
  We appreciate your time and efforts you took to contact us. If you have questions, please contact me at
  *************** **** *******. We are ready to help you Monday through Friday, 9:00 a.m. to 5:00 p.m. Central
  Time. We do accept telecommunications relay service calls.
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  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 ********** ** *********************************************************************** *** ********** ***** ***** ******* ******* **
  *********************************************
  
  © 2021 Wells Fargo Advisors, LLC. All rights reserved.
  ECMO– BT173_Res_M_E_122021
  Sincerely,
  
  ***** **
  ********* ****** **** **********
  ********** ********** ********** ******
  
  *********
  
  cc: ****** ******** ******
  

• Initial Complaint

  Date:12/13/2022

  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.

  Last evening I called and spoke with a customer service representative. I told him I would like to cash in my account. It was a huge headache to access my account in the first place. Now that I have access to my account, I got the run around about cashing in my account. I was told I have to speak with one of their financial advisors. I do not need a financial advisor. I simply want the full cash value for my account. This is a company that charges an annual $125 "account maintenance fee" on top of other fees, has mediocre customer service, and many complaints regarding difficulty accessing their money. I just want to cash in / close this account and be done. Thank you.

  Business Response

  Date: 12/22/2022

  Enterprise Complaints Management Office
  PO Box 5133
  Sioux Falls, SD 57117
  December 22, 2022
  **** ******
  ***** ******* ***
  ***** ******* ** **********
  
  Subject: We are responding to your concerns
  Case number: *****************
  Account number ending: ****
  Better Business Bureau, case number: ********
  
  Dear **** *******
  We are responding to concerns that were expressed in a case filed with the Better Business Bureau, case
  ********* on December 13, 2022, in regard to redeeming your assets and closing your account. Thank you for
  your patience while we looked into your concerns. We have completed our research and are ready to share our
  findings.
  
  Per our previous letter to you dated November 18, 2022, due to the fact that there was no contact from you
  during the first two years of the account’s inception, on February 28, 2006, your account was restricted for
  account document completion. This restriction was placed onto your account due to our Customer Due Diligence
  policy, which requires all firms to keep up-to-date information on our clients. We see that you submitted a new
  account application which was received on December 19, 2022, unfortunately, that application was rejected due to
  the fact that only 6 pages of the 8-page application was received. We apologize for the inconvenience, but we will
  need new completed account application that is in good order to be re-submitted in order to remove the account
  restriction.
  
  Our Wells Fargo Advisors Solutions® (WFAS) do have an annual fee, which is charged to your account annually.
  Please know that considerable thought and energy go into establishing our fee structure. The fees we have
  implemented help ensure we can continue to equip our financial advisors with the industry’s best information,
  products, and services so that they, in turn, can provide you with the consistently high level of service and
  professional advice you have a right to expect from us. In addition, the annual account fee helps defray the costs
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  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 *********************************************************************** 
  See additional Wells Fargo privacy notices at
  *********************************************
  
  © 2021 Wells Fargo Advisors, LLC. All rights reserved.
  ECMO– BT173_Res_M_E_122021
  of providing periodic account statements, dividend and interest collection, tax reporting and account
  maintenance. Most brokerage firms and mutual fund companies assess similar fees based on either activity or
  account balance. However, the annual fee insert was included in your May 2022 account statement.
  
  We verified that on December 13, 2022, that you spoke with our representative, ***** *. We can confirm that
  in that conversation that our representative, ***** **, discussed what was needed to redeem the entire account.
  We can also confirm that at no time did our representative, ***** **, state that you have to speak with a
  financial adviser here at Wells Fargo as you claimed in your statement to the Better Business Bureau.
  
  To summarize, you will need to complete the following items in order to redeem and close the account ending in
  *****
  
  1. Complete and re-submit the entire New Account application, this is to have the account restriction
  removed. The restriction currently on the account would prevent any request for a distribution.
  2. Call in to place your request to liquidate the current holding in your account to cash with a trader.
  3. Complete the Individual Retirement Account (IRA) Distribution form to redeem the entire account
  assets and to close the account once the assets are in cash. We have enclosed an IRA Distribution
  form for your convenience.
  
  If you have any further questions regarding your account, please contact our Wells Fargo Advisors Solutions®
  group at **************, Monday through Friday, 7:00 am to 7:00 pm Central Time.
  
  How to contact us
  
  We appreciate your time and efforts you took to contact us. If you have questions, please contact me at
  *************** **** ******** We are ready to help you Monday through Friday, 9:00 a.m. to 5:00 p.m. Central
  Time. We do accept telecommunications relay service calls.
  Sincerely,
  ***** **
  Executive Office Case Specialist
  Enterprise Complaints Management Office
  enclosures
  cc: Better Business Bureau

• Initial Complaint

  Date:12/01/2022

  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 a TOD account (*********) for me and my 2 brothers. I've submitted ALL the paperwork to receive distribution from the account. Wells Fargo did provide one distribution from the account, however there remains a balance. After 4 months of trying to obtain the funds and talking to multiple Wells Fargo employees, all of which told me they "sent it to processing" and to expect the transfers in either 3-5 business days or 7-10 business days, there has not been a distribution. I spoke with the "person-in-charge" today and she said she's sending it to be processed. I have no confidence that Wells Fago will process the claim. Again Wells Fargo has had ALL the required paperwork to make this transition for over a year. Any assistance you can provide is appreciated.

  Business Response

  Date: 12/20/2022

  Please see the attached Bank response. 

  Dear **** ******
  
  Thank you for your patience while we looked into your concerns regarding the residual transfer for your mother’s
  account. We’ve completed our research and are ready to share our findings.
  
  At Wells Fargo, we pride ourselves on developing and maintaining quality financial relationships and strive to
  consistently deliver the exemplary service we know our customers deserve. We understand your deep frustration
  pertaining to this matter and sincerely apologize that your experience has fallen short of expectations.
  
  Our research indicates that the residual in the account was created due to beneficiaries claiming their portion of
  the account at different points in time. During the initial estate transfers, each beneficiary received equal amounts
  of cash and investments. The account residual is dividends from the remaining assets that accrued after the first
  beneficiary, yourself, claimed their share of the account. Our estates team needed to calculate how much of the
  residual each beneficiary was entitled to based on when the dividends were received, and when the investments
  were claimed. Unfortunately, the calculations added additional processing time to the estates transfer.
  
  We can confirm that the residual balance has been distributed. Because you were the first beneficiary to claim their
  portion of the account, you are not eligible for a residual transfer. The dividends for your share of the investments
  would have been paid to your account with ****** *******, assuming the investments were not liquidated.
  
  For additional questions regarding this process, please contact our Estate Processing representatives at
  ************* They are available Monday through Friday, 7:00 a.m. to 5:00 p.m. Central Time.
  
  
  
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  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 **********************************************************************. See additional Wells Fargo privacy notices at
  *********************************************
  
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  *** ** ******* **
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  me at *************** **** *******. We’re ready to help you Monday through Friday from 8:00 a.m. to 5:00
  p.m. Central Time. We accept telecommunications relay service calls.
  

  
  

• Initial Complaint

  Date:11/30/2022

  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.

  I deposited my payroll check on Wednesday, November 23rd. This check comes from a multi-million dollar nationwide healthcare company. My paycheck was put on hold until December 5th, 13 whole days after I got paid I was told that the hold reason was "You Need To Refer To Maker Of Check". I spoke to someone named ******** who said it could be released after 5 business days. Well I chat today as it is the 5th business day and I was told it needs to be 5 whole business days. I asked to speak to a supervisor and I was transferred to someone named ***** who states that they were not able to collect the funds which is false. I do not have the luxury of waiting 13 days for my paycheck to clear. I want my money to be released immediately.

  Business Response

  Date: 12/06/2022

  Please see the attached Bank response. 

  Thank you for your patience while we looked into your concerns. Weve completed our research and are ready to
  share our findings.
  
  At Wells Fargo, we pride ourselves on developing and maintaining quality financial relationships and strive to
  consistently deliver the exemplary service we know our customers deserve. It was very difficult to learn that we
  have not met your expectations. We'd like you to know you're a valued customer, and we strive to help our
  customers succeed financially. Thank you for taking the time to share your experience with us. We value your
  feedback and look to customers like you for your opinions about how we can provide the service you expect and
  deserve.
  
  What you need to know about deposits and deposits holds
  
  Unfortunately, many times the requested resolution does not match the relief we are able to provide. As an
  advocate for our customers, we strive to remedy each request to the best of our ability; however, we are restricted
  by items beyond our control, such as federal regulations, third party service agreements, and legal or regulatory
  implications. Please understand, the resolution we are providing is within the resources and compliance guidelines
  we are held to.
  
  Check number ****** for $2,358.73 was deposited to your account ending in **** on November 23, 2022. We
  were unable to confirm issuance of the item. On November 25, 2022, we placed a temporary precautionary hold
  on the full amount of the check to ensure the check would not be returned unpaid. The hold was removed on the
  same date. This check was placed on deposit hold pending further review due to unusual activity in the account
  from which this check was drawn. The hold has been placed to protect you while the review is being completed.
  
  
  
  
  
  
  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 https://www.wellsfargo.com/privacy-security/notice-of-data-collection/. See additional Wells Fargo privacy notices at
  https://www.wellsfargo.com/privacy-security/.
  
  2021 Wells Fargo Bank, N.A. All rights reserved.
  ECMOBT129_Res_M_E_122021
  
  On November 25, 2022, we placed a secondary temporary hold on check number ****** for $2,358.73 of the
  deposited funds. This hold was placed because we received notification the deposited item may be returned. We
  communicated this hold to your online banking secure message center on November 24, 2022, with the hold
  reason of: you need to refer to maker of check. Refer to Maker means Wells Fargo has determined there was a
  reason to place a hold on the item you deposited. We do not have any additional information available. Refer to
  Maker can apply to several situations where a hold needs to be placed. We recommend contacting the issuer of the
  check for additional information regarding the account status at the maker bank.
  
  The secondary hold expired December 2, 2022, and the funds were made available the next business day on
  December 5, 2022. We confirmed the above deposits holds complied with our Availability of Funds Policy practices
  as outlined in the Deposit Account Agreement and no bank error occurred. We regret any frustration or
  inconvenience this experience caused.
  
  For more information, please refer to the Deposit Account Agreement. You can access a full copy of the
  agreement at your local Wells Fargo branch, or by visiting us online:
  
  1. Access wellsfargo.com > Personal
  2. Type Consumer Account Disclosures in the search bar at the top of your screen.
  3. Follow the link, input your zip code.
  4. Select Deposit Account Agreement (PDF)
  
  We regret any misinformation you may have received about the ability to have the deposit hold released early and
  being informed by a Wells Fargo representative that you would have to wait 5 business days to have the hold
  reviewed for early release. As of September 22, 2022, Wells Fargo no longer reviews deposit holds for courtesy
  removal eligibility for deposit holds under $25,000.00. Holds may seem like an inconvenience, but they are actually
  a way for us to protect our customers from uncertainty and fraud. We want to help you uncover any potential
  problems with a deposited check before you spend the money, as you will be responsible for repaying the full
  amount of any deposited checks that are returned unpaid.
  
  While we realize the information provided may not alleviate your frustrations, we hope this letter serves to clarify
  Wells Fargos action with regard to this matter.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact us at
  ************. Were ready to help you Monday through Friday from 8:00 a.m. to 4:30 p.m. Central Time. ************ telecommunications relay service calls.
  

  
  

  Customer Answer

  Date: 12/07/2022

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  Date:11/23/2022

  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 name is **** ****** ** *******. On December 22, 2021 my partner (boyfriend) passed away. I started with this situation on February 2022. He had an IRA account in Well Fargo in which I am the Primary Beneficiary. The bank send me the forms 6 times because the bank always lost or can find one of the form. I also, attached the will and death certificate to the forms. I fax the papers 20 times, send 4 certified mail with signature and 14 calls. Their excused is that because I wasn't married with him I'm not the beneficiary. I told them that in the will he mentioned his son name and he don't heritage nothing. There answer was IRA Processing Department does not read the will (they don't need to read that). Again, I submitted all the paper but this time with proof that the Bank Statement they send every month said that **** ****** ** ******* (Beneficiary) and they continued that I'm not the beneficiary. I went to one of the Wells Fargo Advisor (FMC) *** ******** *** ***** ********, he called the bank and requested the forms before I faxed and mailed he checked that everything was filled and I took the forms to get notarized.

  Business Response

  Date: 12/14/2022

  Please see the attached Bank response. 

  Thank you for your patience while we looked into your concerns. We’ve completed our research and are ready to
  share our findings.
  
  To comply with Federal and State laws and to keep in accordance with our respective regulators it is beholden
  upon Wells Fargo Advisors (WFA) to be certain that all actions taken with in an account are by an authorized
  person and that all instructions are clear and non-contradictory.
  
  We affirm that your name is listed as beneficiary on the account statement of ******* ** ***** Individual
  Retirement Account (IRA) ending in ****, however the listing was is in error. Our research showed that for all
  forms that provide an area to designate a beneficiary, there was no person or entity named in those fields. We
  apologize for the error on the statements and the confusion that may have resulted.
  
  We have received several forms for the distribution of the ******* ** ***** IRA. Many of these forms were
  different iterations of the IRA Beneficiary Surviving Child Certification form all of which have had errors of missing
  account numbers, account holder being incorrect, the “type of claim” left blank, and missing page two of the form.
  There errors were found together or separately on multiple filings of the form.
  
  The IRA Beneficiary Claim form instructions dated March 11, 2022, did not indicate a method of distribution nor
  was a tax withholding option elected.
  
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  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 **********************************************************************. See additional Wells Fargo privacy notices at
  *********************************************
  
  © 2021 Wells Fargo Advisors, LLC. All rights reserved.
  ***** ********************
  The IRA Beneficiary Claim form dated October 19, 2022, but received October 24, 2022, was unactionable
  because the form was missing the beneficiary’s name and it directed a cash distribution, however the account
  contains securities assets which cannot be distributed in cash.
  
  November 14, 2022, we received distribution instructions which instructed us to disburse cash. The account
  contained securities at the time of the processing of the form.
  
  We have received a subsequent IRA Beneficiary Claim form dated December 1, 2022, in section 5 “Payment
  Instruction”, there is no indication of how the assets are to be distributed or to where the assets are to be sent.
  Each form must be filled out with complete instruction. We are unable to use partial forms or to use information
  on a previously filed form in order to make a “completed” form.
  
  Please submit a Letter of Testamentary, an IRA Beneficiary Surviving Child Certification, and an IRA Beneficiary
  Claim Form so that we can conclude this account. After submission, allow 7-10 business days for processing of the
  documents. We are including the IRA Beneficiary Surviving Child Certification, and an IRA Beneficiary Claim Form
  with this letter for your convenience.
  
  Thank you for your continued work with our Estate Processing group and we appreciate you providing the required
  forms. If you have questions concerning the forms for the distribution process, please contact Wells Fargo
  Advisors Estate Processing ************** from 7:00 a.m. to 5:00 p.m. Central Time Monday through Friday.
  
  We apologize your experience has been less than expected. Wells Fargo Advisors seeks to provide best in class
  customer service on all phone calls and in all levels of service. This complaint acknowledgement and investigation is
  part of our initiative to improve our clients service experience. Your experience will help us assess our services and
  improve our training, process, and accountability.
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  me at *************** *** *******. We’re ready to help you Monday through Friday from 8:00 a.m. to 5:00 p.m.
  Central Time. We accept telecommunications relay service calls.
  

  
  

• Initial Complaint

  Date:11/23/2022

  Type:Order 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.

  For some unknown reason Wells Fargo failed to direct deposit my $1000 monthly check into my checking account on October 25, 2022. I was traveling and unable to check my balance online. I scheduled 3 payments to be paid from my account several days after my usual deposit from Wells Fargo should have been made. When I returned home I found that the failure to deposit the check had caused my account to overdraw and I had been charged 3 overdraft fees of $35 each, a total of $105. I contacted my Wells Fargo advisor and got the check deposited on Nov, 15th. I then requested that Wells Fargo reimburse me the $105 which was due to their failure to pay the contracted $1000 into my account. They refused and even suggested that I ask my bank to refund the fees caused by Wells Fargo’s breach of contract. They failed to meet their obligation to me and have not offered any explanation as to why they failed. I’m out $105 because of their failure. That’s a bit harsh for a 75 year old widow of modest means to accept.

  Business Response

  Date: 12/07/2022

  Please see the attached Bank response. 

  Thank you for your patience while we looked into your concerns. We’ve completed our research and are ready to
  share our findings.
  
  Please be advised that we received your concerns regarding the difficulty you experienced while trying to obtain
  your $1,000.00 check and non-sufficient fees incurred due to the check not being deposited into your checking
  account when you had originally planned on receiving it.
  
  Please note that from our research we can confirm per your conversation with ***** *. with your Advisors office
  on November 22, 2022, that we are unable to refund the fees incurred totaling in $105.00 since the fees were
  charged by your contra firm. Furthermore, the Advisors office is unable to deposit the funds directly into your
  account since you currently do not have earned income which would disqualify any IRA contributions.
  
  Please also know that the reason there was a delay in processing your $1,000.00 check, causing these fees to
  generate was due to you not having any free cash available. On October 25, 2022, when your check was to be
  processed, it was denied because all of the funds were invested in the market. However, we can confirm that on
  November 14, 2022, your Advisors office was able to liquidate the required funds and process the $1,000.00 into
  your checking account ending in ****.
  
  We sincerely regret the frustration, inconvenience, and overall poor service you feel you have experienced while
  trying to resolve this issue. We also highly value your feedback, as we use your feedback as our primary tool in
  improving our products and services. If you have additional questions, please do not hesitate to reach out to your
  
  
  Investment products and services are offered
  Investment and Insurance Products are:
  through Wells Fargo Advisors, a trade name used
  • Not Insured by the FDIC or Any Federal Government Agency
  by Wells Fargo Clearing Services, LLC, Member
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  SIPC, a registered broker-dealer and non-bank
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested
  affiliate of Wells Fargo & Company.
  
  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 *********************************************************************** See additional Wells Fargo privacy notices at
  *********************************************
  
  * **** ***** ***** ********* **** *** ****** *********
  ***** ********************
  ********* ******** ****** ******** *** **** **** ** ***** ** ****** **** ******** *** *** ***** ***** ********
  ******** ** ************* ** *************
  
  How to contact us
  
  We appreciate your time and effort you took to contact us. If you have questions, please contact
  us at *************** ********* *******. We’re ready to help you Monday through Friday from
  8:00 a.m. to 5:00 p.m. Central Time. We accept telecommunications relay service calls.
  

  
  

• Initial Complaint

  Date:11/10/2022

  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 have an IRA account that was set up many years ago. Last night I called for help creating on line access so I can view statements and move money to another account. I want to move the money because I discovered they charge an annual IRA fee of $125.00. I was unable to create on line access to my account, so I called and spoke with a representative. I was told that "there are problems with my account" and I would have to fill out a new account application they sent via email to fix problems. They also were evasive about how much money is in the account and mentioned a "negative balance". I want to see my statements. I already have an account and am not filling out a new application to "fix problems". What kind of racket are they running here? I want to be able to see statements. I want to be able to sign up for on line access without filling out an a new application.

  Business Response

  Date: 11/22/2022

  Please see the attached bank response. 

• Initial Complaint

  Date:11/09/2022

  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 had an investment account that was inactive for several years yet I was still being charged an annual $100 fee. I called to close the account and was told that I could avoid a termination fee by simply withdrawing the entire amount and then the account would close automatically. I filed for that, and after it was rejected was told to terminate the account. This resulted in a $123.22 termination fee which I was told I would not be charged. I feel this is an unethical policy especially as no service was being provided and none of my hard earned money was being invested. I am requesting a full refund of the termination fee.

  Business Response

  Date: 11/18/2022

  Please see the attached Bank response. 

  Dear ***** ** *********
  We're responding to concerns you expressed to the Better Business Bureau pertaining to the $125.00 termination fee assessed to your ROTH Individual Retirement Account (IRA) on November 7, 2022, and the assessment of the annual fee in an inactive account. We have completed our research and would like to share our findings.
  We apologize for any difficulty you had while attempting to gain clarification on this matter. While it is never pleasant to learn we have failed to meet a customer's expectation, we appreciate you sharing your situation to our attention. Feedback such as yours is important because it allows us the opportunity to pinpoint individual coaching needs and identify opportunities to improve our process.
  It is Wells Fargo Advisors' policy to provide our clients with a clear explanation of any charges and fees associated with the services we provide. The IRA termination fee is disclosed when the account is initially established in the Client Agreement as well as annually afterwards. In an effort to accommodate your concern, and as a gesture of goodwill the $125.00 termination fee was credited to your account on November 15,
  Investment and Insurance Products are: • Not Insured by the FDIC or Any Federal
  Government Agency
  • Not a Deposit or Other Obligation of, or
  Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible
  Loss of the Principal Amount Invested
  Investment products and services are offered through Wells Fargo Advisors, a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.
  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 ********************************************************************** See additional Wells Fargo privacy notices at *********************************************
  * **** ***** ***** ********* **** *** ****** *********
  ***** ***** *** * * ******
  2022. We recommend that you speak with the Wells Fargo Advisors Solutions group to distribute these funds. Please be advised we can only close an account with a zero balance.
  We researched the issue regarding the funds in the account not being invested. Our records indicate that you made the request to liquidate the entire account on January 9, 2017, and to keep the proceeds as cash until further notice. Our records do not indicate that we received instructions to invest these funds. Please understand as long as the account is open and does not meet the fee waiver criteria detailed in the annual fee schedule, the annual fee will be assessed.
  How to contact us
  The Wells Fargo Advisors Solutions group can be reached directly at ************** for assistance from Monday through Friday, 7:00 a.m. to 7:00 p.m. Central Time and can help with a distribution request.
  We appreciate your time and effort you took to contact us. If you have questions, please contact me at ************** *** *******. We're ready to help you Monday through Friday from 7:00 a.m. to 3:30 p.m. Central Time. We accept telecommunications relay service calls.
  Sincerely,
  ******** **
  ********* ****** **** **********
  ********** ********** ********** ******