Wells Fargo Bank ripoff Illegally closed my account Northridge California
I work for Britwork Arts & craft company based in London, England. On 09/13/05, I received a Wells Fargo $19,650 check from a Wells Fargo customer who purchased an item from our company which I deposited the check in my checking account. A hold was put on the check, on 09/16/05 I was informed that the check has been cleared. So I went to the bank and per my company's instruction wire transferred $17,685 to the seller of that item in Japan.
I received the account statement for the period Sept 12 through Sep 16, 2005 showing a deposit of $19,650, and a withdrawal of $17,727.80 (which included the wire transfer cost), and a balance of $1,922.20.
After the wire transfer, the check issuer informed the bank to reverse the transaction and Wells Fargo informed me that the deposited check is returned??. And in a letter I was informed that because of Wells Fargo's customer bad check, they have closed my account???? Following this letter, I received a new account statemen for the period of Sep 17 through October 18, 2005 showing this:
Balance on 09/16 $1,922.22
Deposit 0.00
Withdrawals -19,723.95
Balance on 10/18 -$17,801.75 (including penalties)
If the Wells argo customer has tried to cheat our company by first valdating the check and later denying validation, why my account was closed? Also, why the bank has not sent his returned chck to me?, finally why the bank does not give me the balance of my deposit which is $1,922.20?
Dr rajden
Glendale, California
U.S.A.
3 Updates & Rebuttals
Cory
San Antonio,Texas,
U.S.A.
Wire Transfer
#4Consumer Suggestion
Wed, November 09, 2005
This is one of the risks of doing business. I've had it nearly happen to me several times. You're worried about $1,922.20, when you got scammed out of $17,801.75? Do you expect Wells Fargo to eat the $17,801.75 loss? You don't clearly state if the customer has the item or not. You sent the seller his money, without first verifing the check. That's your fault. With these types of deals, I get wire transfers. There is NO WAY they can be reversed. The bank on the other end guarantees the funds. If there is a problem, they eat it, it's their problem, not mine. You should have posted the name of the person who wrote you the bad check and if he made off with the item, not WF. If he did, that's theft. As a side note, you say you "work" for Britwork out of London. They can't be too happy about this, what exactly do you do for them and what do they have to say about all this. Don't forget, get your money wire transfered in the future.
Ken
Randolph,Massachusetts,
U.S.A.
Timing...
#4Consumer Comment
Wed, November 09, 2005
This may or may not help, but is worth checking:
The bank that he check was drawn on has until midnight of the second day after they received the check, to return it to your bank. If they did not return it within this time frame, it is a 'late return', and you are within your rights to force them to honor it.
As for your $1,922, it just isn't there. After the debited your account for the 19k, you are now overdrawn 17 odd-thousand. If the check was not a late return, your only recourse is against the person who wrote you the check.
They definitely have to return the check to you, as it is likely evidence in a potential lawsuit.
Robert
Wallingford,Connecticut,
U.S.A.
Wells Fargo used in name only.
#4Consumer Comment
Wed, November 09, 2005
You, unfortunately fell victim to a long running scam.
The "buyer" and the "seller" are probably partners in this scam. The "buyer" sends you a "certified" check. You deposit it into you account. After the normal hold time, you draw out the funds to wire to the "seller". Several weeks later your bank discovers that the "certified" check is a fake.
Wells Fargo really has nothing to do with this scam other than to have their name used on a fake "certified" check. They never issued it. The only thing they did was report to your bank that no such account exists.
Your bank than had no other alternative but to close your account due to the loss of $17,685 which you are now on the hook for.
You will probably never hear anything further from the "buyer/seller", they are long gone with your money.
You may want to contact your local authorities to file a report. It may help when your bank comes after you for their 17K.
Good luck.