Wells Fargo fraud: worst banking experience ever! Worst bank in the country.

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The PF wiki has some [resources on finding a new bank or credit union](/r/personalfinance/wiki/banks_and_credit_unions).


With their history, I don’t see why anyone trusts them with their money anymore. I had a good laugh when I saw the “it’s a new day for Wells Fargo” commercials last year. By the way, a CFPB complaint would’ve likely resolved this much quicker.


When my father died and I inherited his house, I tried to just take over the mortgage. They asked for forms X, Y and Z, and I sent them. A month later, I hadn’t heard anything, so I called. “We didn’t get form Y and Z.” I had a confirmation they were received, but whatever. Sent them again. They lost form X and needed form A too, as I’d been told before. (No I hadn’t.) Tried one more time, and the person on the phone who said they could get the faxes right then managed to LOSE IT somehow. Gave up on them and went and refinanced with my credit union right then. (Literally hung up, got dressed, went to the office.) Had the whole thing done in two weeks and it only took that long because I worked nights and it was hard to arrange times for everyone to be there at once. Got twice what the remaining amount on the house was with payments less than half. Fuck Wells Fargo.


I mean you’re kind of preaching to the choir here. I don’t think you’d find many people in this sub who would disagree with you that WF is terrible. Not to mention why would you ever want to get .05% interest with WF when you could switch and get like 40x more?


You say, “The short version: Online scams, fraud, and identity theft are seriously on the rise in our country. It’s not only because of Covid, its because criminals are getting better at stealing our information and using card swiper inlays, hacking and fake phishing scams that look legitimate.” Then you hypothesize that it was someone inside the bank. Wells Fargo sucks. It is known. However, I doubt it was an inside job. Everyone always thinks that when really it’s just garden variety fraud. Also, Reg E says that banks have to complete their investigation in 10 business days but they are allowed to extend the timeframe if they take additional steps (like granting provisional credit). Paper checks and WF both suck. I’m sorry that you such a terrible experience. Their process is gross and no one deserves that when trying to find out what happened to their money.