Thread: Did Wells Fargo bank freeze my funds unfairly?

I received a convenience check(a balance transfer check issued by Chase against the line of credit of my credit card) with 0%APR which I could write to myself(i confirmed that with Chase and it was written on the letter which came with the convenience check) and deposit into my checking account. I deposited the check into a Wells Fargo ATM as i had a checking account with Wells Fargo.

Two days later, the Wells Fargo ATM operations office calls me and tells me that they cannot process such balance transfer checks and they have to be presented at a local branch. They informed me that they will be sending me the legal copy of the check back which I can deposit at a Wells Fargo branch. After two days, I find out that a bill payment i scheduled using my Wells Fargo checking account was not sent due to insufficient funds. I had scheduled bill payments depending on the funds I had(which was 3K) BEFORE I deposited the check.

On inquiring, I find out that since the ATM operations group sent my check back to me, it was marked as "Refer to Maker" in bank records and the Loss Prevention Group of Wells Fargo decided to close my checking/savings account, freeze my funds without notifying me. I explain the matter to 7 people on phone(out of which 3 were from the Corporate Executive Office). The people in the phone told me that though they know that it is not my mistake nothing can be done, bank decision to close my account is final and the inconvenience caused to me due to bill payments not getting processed, not having access to my funds is not their concern.

I wrote to John Stumpf(head of the Wells Fargo) about the whole situation but did not hear back and don't expect will) .

1. Do banking regulations allow any bank to terminate a consumer's checking/savings account, freeze their funds without notifying the customer like they did to me? I thought adequate notice was required by law. I had 3K in the bank before I tried to deposit the check. I feel the 3K funds are mine and WF has NO right to freeze them.

2. I am in Florida. So, where I can complain about this malpractice of bank? Dept of Financial Regulations which regulates banks in Florida or Office of Comptroller who regulates banks nationally or both?

3. Is it worth complaining or is it a waste of time as the government regulators could be buddies of Wells Fargo? I notice on the Facebook page of wells Fargo they have thousands of such disgruntled customers like me.

Wow sorry to hear about that man. I wish I could help but I wanted to say I have wells fargo and that scares me. I better change banks before something happens to me. I would say at the very least report it to bbb. What's a good bank to bank with?

I currently reside in Florida too and have been told the banking can be difficult to deal with in this area. Needless to say the circumstances you have endured I would presume to likely be illegal. If the situation has not been remedied you should file complaints with the appropriate parties and regulatory bodies.