Pissed Consumer - Wells Fargo Bank reports

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Wells Fargo Bank reports - FINANCE-Banks

Aug 4, 2007

Wells Fargo complaint

I am aware of this scam because, unfortuneately, it happened to someone I know. It is a scam, and the victims probably should have, in this case, looked in the gift horse's mouth, but that issue aside...

The funds are transferred directly into an account. Wether or not they cleared is not the issue. They DO clear. The sender of the money then files a "fraud" claim. Wells Fargo then refunds the sender's money, and charges the account that it was sent to for the "missing" money. The victim is then held responsible for the missing money, even though Wells Fargo ADMITS they are aware of this scam, and that the original account holder is the one who is actually commiting the fraud (by saying the draft was unauthorized).

I feel it is very important to make sure that as many people as possible are aware of this scam because your bank will actually HELP someone steal money from you. I understand that they are following policies that are meant to protect the consumer, but I think the policies need to be re-examined.

Patricia - Austin, Texas

U.S.A.

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Comments (1)

1. Written by Daisy, on 26-02-2008 14:55

Do you mean that someone puts money into your bank account? Gives you a credit of some sort and then, scams you? Do you know what FIA stands for when it comes from Wells Fargo? Thank you.

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