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

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

• 

  Wells Fargo Advisors

  2407 Broadmoor Blvd Monroe, LA 71201

• 

  Wells Fargo Advisors, LLC

  8555 Fern Ave Shreveport, LA 71105-5656

• 

  Wells Fargo Advisors

  175 Harmony Park STE A Hot Springs, AR 71913-5417

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: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 **************************** **********************************

• Initial Complaint

  Date:10/03/2024

  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.

  The clarity of the bank's letter to the consumer needs to be improved. Key aspects the consumer needed to understand were unclear; the letter did not clearly explain pertinent financial information concerning the consumer. Similarly the letter did not clearly explain the reason for the bank's decision. Adding insult to injury the letter had financial and legal terminology that would be difficult for a layperson to understand. Furthermore, the letter did not clearly explain the bank's actions. *The financial institutions actions are inconsistent with applicable banking statutes, regulations, or policies.*

  Business Response

  Date: 10/09/2024

  ***************************************
  PO Box 5133
  *********************
  
  October 9, 2024
  
  ***** H. ******
  PO Box 866
  **********************
  
  
  Subject: Were responding to your concerns
  Wells Fargo case number: ***************** and *****************
  Account number ending in: 4603
  **********************, case number: ********
  
  
  Dear ***** H. ******:
  
  Thank you for contacting us. We completed our research and are providing details to address your concerns
  regarding your expressed dissatisfaction with an exit recommendation letter sent to you on September 9, 2024.
  You expressed that the letter's financial and legal terminology was difficult to understand and did not
  appropriately explain the situation or reasons for the decision. You stated, "the financial institution's actions are
  inconsistent with applicable banking statutes, regulations or policies". You requested the account restriction to be
  removed so that you could transfer or close the account prior to October 10, 2024.
  
  Wells Fargo Advisors strives to provide our clients with the most outstanding customer service, and we sincerely
  regret that your experience has fallen short of your expectations. Please allow us to apologize for any frustration
  or inconvenience this matter may have caused.
  
  The relationship between a client and financial firm is a mutually agreed upon relationship that can be terminated
  at any time without reason by either party. This information is outlined in the General Account Agreement and
  Disclosure Document (GAADD) states the following, We have the right to close your account at any time without
  prior notice to you. The principal decision to hold an account comes down to a review conducted by our qualified
  supervisors. The information and decisions regarding closure are kept confidential. We have included a copy of the
  GAADD for your convenience.
  
  We could not locate any attempted contact from you with our ************************* representatives to
  discuss this matter, and we were unable to contact you to discuss the matter through our call attempts.
  
  
  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/.
  
  We confirmed that the last statement sent from your account covered May 1, 2024, through May 31, 2024. A
  negative debit balance of $ ********** was written off by the Firm on May 23, 2024, and there was a closing
  balance of $0 on the account as of May 31, 2024. There has been no balance on the account since then through the
  writing of this letter.
  
  Wells Fargo Advisors will close any account that no longer holds securities positions or asset balances on or after
  the reassignment date of October 10, 2024, as outlined in the Additional important information section of the exit
  recommendation letter sent to you. Your account will remain restricted until that time. As there are no securities
  or balances in your account your request to transfer the account cannot be accommodated. We trust the
  preceding provided you with a better understanding of our firms position about this matter.
  
  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 us 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
  ***************************************
  **********************************
  
  Enclosures: May 2024 Statement, GAADD, Exit Recommendation Letter
  cc: Better Business Bureau

• Initial Complaint

  Date:08/06/2024

  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 have been dealing with Wells Fargo Financial Services for over 8 months ever since my wife passed away, trying to close my account and receive my money. Their customer service is beyond horrible. They have continually sent me the wrong paperwork to fill out 5 times! And every time I send the paperwork back to them, they either tell me its incorrect or they "haven't" received it. Even though I fax it to them (have confirmation) and mail it to them in the envelope they provided. They tell me there is no office for me to actually go and sit and speak to someone in person but yet they had no problem finding an office when the account was opened and taking my money. Everything is done over the phone by incompetent staff. This is beyond unacceptable. I would NEVER recommend Wells Fargo to anyone. The only option they have left me is taking them to COURT.

  Business Response

  Date: 08/20/2024

  Please see the attached Bank response. 

• Initial Complaint

  Date:08/02/2024

  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 have spent the past month trying to rectify my deceased Mother's account with no avail. I have been hung up on more than twice, have received mis-information and still the account is not correct. I have sent in the correct documents requested of me, but again, the account is still not correct. Well Fargo has my Father's name misspelled on the account and has yet to correct it, even with a call directly from my Father (whom I have a POA). I was told my POA wasn't allowed because my Father is still living. Make that make sense. I need my deceased Mother taken off the account, and my Father's name corrected so that we can move any monies out of Wells Fargo as we will no longer allow Wells Fargo to control the funds. I have been given the run around every time I call or email and I will no longer allow this. My next step is to notify the *************************

  Business Response

  Date: 08/20/2024

  Please see the attached Bank response. 

• Initial Complaint

  Date:07/28/2024

  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 father passed away in 2022. He left his small *** to my brother's and I split 3 ways. The amount is approximately 1000 dollars each. Despite multiple attempts to get this money wells fargo will not complete the transaction. In the beginning they said that we could not cash out because the money were assets. We gave up for a time due to the amount of trouble they were giving us. I recently started trying to get my portion again with the help of my finance advisor. He suggested I ask to liquidate the assets, which wells fargo refused to do. We decided the best course of action was to do a transfer to an external inherited ira ******** Each time we fill out the paper work and submit wells fargo comes up with yet another reason the paperwork is incorrect. Wr have submitted multiple times since May to the point of exhaustion. They state they don't have the death certificate (provided multiple times), the wrong form was submitted, an additional form needs submitted, we didn't check the correct boxes, etc etc etc. They have been withholding for 2 years and it's ridiculous. I'm a masters educated nurse and my financial advisor is educated as well. We aren't doing this many things incorrectly. Please help us rectify this. This is prolonging closure of accounts and in turn grief. Can submit additional documents to bbb if needed

  Customer Answer

  Date: 07/30/2024

  Account number *********

  Customer Answer

  Date: 08/04/2024

  Authorization form attached

  Business Response

  Date: 08/22/2024

  Please see the attached Bank response.      

  Customer Answer

  Date: 08/29/2024

  Complaint: 22055815
  
  I have reviewed the business' response and am rejecting it because: once again additional information is being requested that is trivial and different from what we were originally told. Wells fargo now requesting us to use my dad's name in section 3 instead of wells fargo. We are going to follow these instructions and re fax but I have fear the outcome will be the same and they will continue to request something else be changed. 

   

  ***** and I spoke the other day and he stated he tried to contact the estate **** on my behalf from his **** (complaints and appeals) and they would not speak to him. Even he isn't sure how we are going to escalate if they shoot down this request. 

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

• Initial Complaint

  Date:07/16/2024

  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 have had a Traditional *** with Wells Fargo for 10 years and have successfully accessed this account, until July 2, 2024. While at my local bank branch I did my normal routine of bringing in a Roll-over check to deposit and wanted to set up a Distriibution. On that day I was informed ** had changed it's policies on the Brokerage Accounts, such as mine. Now there would be no local branch access to facilitate ANY activity. My rollover check form state of CA was then. overnighted to the ** Trade Brokerage in ********. From there have been told my account information is not up to date.... and they sent me 2 new forms to complete (one of them being for NEW accounts- even though mine is 10 years old). Since July 8 I have submitted and resubmitted these forms and keep. getting rejected- EACH time I resubnit-- it takes 2-3 business days to get a reply. Meanwhile there is a restriction on access to my recent roll-over of $9,200. The funds cleared, but I cannot get access and have been frustrated by numerous calls and on-line chats to the ** Trader offices- no one tells me what is wrong with the forms. So yesterday I went to certified ** broker near me. He and staff tried to call the St Louis office to help facilitate - but were told they are NOT allowed access until the restrictions are lifted. Now broker says they cannot handle my small account ( less than a Million). I cannot even move my money.I went back to ******** customer assistance and they said actually I need to fill out (another) new form because my signature doesnt match my name spelling on rollover check and forms signed. I submitted that-- and was told that it is another 2-3 days wait and no guarantee it lifts the restrictions. All feedback is contradicting and unclear. I am literally running out of money for ********** and running negative in my ** checking accounts, racking up NSF charges. This situation is damaging my personal finance, my credit score, and standing with my auto finance company.

  Business Response

  Date: 08/09/2024

  ***************************************
  PO Box 5133
  *********************
  
  
  August 9, 2024
  
  
  
  *************************************
  108 Tuxedo Court
  ***********************
  
  
  Subject: Were responding to your concerns
  Wells Fargo case number: 06202407304628416, 06202407294620585, 06202407294622741
  Account number ending in: 1267, 8919, 7987
  **********************, case number: ********
  
  
  Dear *************************************:
  
  We are responding to concerns expressed on July 16, 2024, and July 29, 2024, regarding the restriction on your
  account ending in 1267 and that you were required to submit new forms to have it removed. The forms were
  rejected multiple times, requiring additional submissions which created delays in the restriction removal, and
  resulted in your lack of access to funds. You suggested that you were not informed of why the forms were
  rejected. Despite the restriction, you had no trouble transacting within the account for the last several years. Due
  to your recent inability to access funds, you experienced a negative impact to your Wells Fargo checking account,
  including fees due to insufficient funds. You mentioned receiving contradictory instructions and information which
  led to repeated follow-up conversations both by phone and through online chat. You stated you were no longer
  able to be assisted with your Individual Retirement Account ***** rollovers and distributions in a bank branch, and
  that a Wells Fargo broker declined to service the account as it had a total asset value of less than $1 million. Thank
  you for contacting us. We completed our research and are providing details to address your concerns.
  
  Brokerage Concerns: What you need to know
  
  You stated that on July 2, 2024, you visited a Wells Fargo Bank branch to deposit a rollover check into your ***
  ending in 1267. Although you had previously been assisted with transactions such as these at the branch, you were
  told they would no longer be able to service the account. While the process may seem inconvenient, our policy
  states rollover checks must be physically sent to our *************** team for processing. You indicated the
  rollover check was overnighted to our Brokerage Services location in ***********. We can confirm the funds from
  the rollover check settled on July 8, 2024.
  
  
  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
  
  On July 8, 2024, you called from a bank branch to complete a distribution, at which point you were informed there
  was a restriction on the account that prevented this transaction. Our research shows a restriction was placed on
  the account on January 15, 2015, however, transactional activity was not prohibited until this year. Unfortunately,
  we were unable to identify what caused this oversight. 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 regret that your
  experience has fallen short of expectations. Please allow us to apologize for any frustration or inconvenience these
  matters have caused, including inaccurate and conflicting information that you may have received throughout
  your experience.
  
  To remove the restriction, we required the submission of New Account Application forms, despite the account
  having been active for many years. On July 10, 2024, we received the completed forms. Unfortunately, there were
  pages missing and a required selection on the form was left blank. This led to the rejection of the forms. We
  informed you of these errors during a call interaction on July 11, 2024.
  
  Forms submitted on July 12, 2024, were also rejected due to a mismatch between your first name written on the
  form versus your first name as listed in our records. We communicated this information to you in a call interaction
  on July 16, 2024, and advised you to submit a One and Same Letter to rectify the issue. We received the letter the
  same day.
  
  The restriction was successfully lifted on July 17, 2024. Our records show a distribution was completed on July 18,
  2024, and funds in the amount of $2,340.00 were transferred to your Wells Fargo Checking account ending in
  7987 the same day.
  
  In your correspondence with the Better Business Bureau on July 16, 2024, you mentioned you visited a certified
  Wells Fargo Broker for assistance but were met with the same issues regarding the restriction. You further noted
  the Broker was unable to service your account due to its total value of less than $1 million. Please know that while
  some of our Advisory Programs have a minimum account size of $1 million, there are other options that offer
  services to accounts with a lower minimum value. If you are looking to work with a Financial Advisor, please reach
  out to us by calling ************** Monday through Friday 8:30 a.m. to 9:30 p.m. Eastern time.
  
  On July 29, 2024, you contacted us using our online chat feature to inquire about a secure message you received
  which you stated requested a co-applicant signature on your *** forms. During the interaction you were informed
  there were no further requirements, and the account is unrestricted. Please allow us to apologize for any confusion
  that may have been caused.
  
  Should you have any additional questions about your brokerage account or this process, please contact our
  WellsTrade representatives at 1-800-TRADERS ***************). They are available Monday through Friday,
  8:00 a.m. to 12:00 a.m. Eastern Time.
  
  Banking Concerns: What you need to know
  
  The deposit account is currently enrolled in **************************** (****). This is an optional service that
  allows Wells Fargo, at its discretion, to approve and pay eligible ATM and debit card transactions when the amount
  of the transaction exceeds the available balance in your checking account or in accounts linked for overdraft
  protection. Standard overdraft fees and policies will apply.
  
  **** does not apply to the following transactions:
  
  Recurring debit card transactions
  Pre-authorized transactions
  Checks
  Bill pay transactions using Wells Fargo Online
  
  If sufficient funds are not available in the account, debit card transactions, ATM transactions, and the transactions
  listed above may continue to be authorized into overdraft and assessed an overdraft fee, regardless of whether
  you have added the **** to the account.
  
  If you would like to remove this service, you may do so at any time by:
  
  ************************ at ******************/7. We accept telecommunications relay service calls.
  Signing on to Wells Fargo Online from a computer or tablet (search Overdraft Services).
  Visiting a Wells Fargo ATM (select More Choices).
  Speaking to a banker at any Wells Fargo branch. To locate a branch near you and schedule an
  appointment online, access wellsfargo.com/locator.
  
  If you wish to remain enrolled in this service, you may be assessed an overdraft fee for ATM and everyday
  (onetime) debit card transactions approved into overdraft.
  
  Fee Concern
  
  Our records show the account became overdrawn by the ******************* transaction for $39.00 on June 3,
  2024. We paid the transaction into overdraft and assessed a $35.00 overdraft fee on June 4, 2024, because the
  available balance at the time the transaction was presented was $0.42.
  
  The account also became overdrawn by the Petaluma UB transaction for $145.00 on July 8, 2024. We paid the
  transaction into overdraft and assessed a $35.00 overdraft fee on July 9, 2024, because the available balance at
  the time the transaction was presented was $-17.20.
  
  We understand your concerns, and confirm we appropriately assessed the fees based on the Deposit Account
  Agreement and the Consumer Account Fee & Information Schedule. A full copy of the Deposit Account
  Agreement is available at your Wells Fargo branch or by visiting our website at wellsfargo.com.
  
  While we realize the information provided may not alleviate your frustrations, we hope this correspondence helps
  to clarify our actions about this matter. We strive to provide exceptional service and were sorry we didnt meet
  that expectation in this instance.
  
  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
  
  Should you have additional questions or concerns regarding this letter, I can be reached directly at
  ****************************, Monday through Friday, 9:00 a.m. to 3:00 p.m. Eastern Time. We accept
  telecommunications relay service calls.
  Sincerely,
  
  ******************
  Escalations Representative Registered
  ***************************************
  **********************************