Wells Fargo Consumer Loan Complaint

Wells Fargo Consumer loan department,

Vehicle loan Managing the loan or lease Ohio

I had an auto loan through Wells Fargo Dealer Services WFDS. '' A payoff check was received by WFDS on - -, 2015. On - -, 2015, a pre-scheduled $500.00 loan payment was taken from my account. This surpised me as I presumed that the payoff of my loan would cause automatic payments to stop. My wife called WFDS on - -, 2015 to inquire about the matter. She was told that a record confirming that the money was removed from my account ( a bank account statement ) must be submitted to show that WFDS actually received the money in order to return it. My wife could not get any further information regarding the account, though, as only my name was on the account. She advised me to call them for more information. I called WFDS and was apologized to. I was told that the charge would be reversed in 2-3 business days. I accepted this answer and hung


was I informed that I needed to send evidence confirming that the money had been taken from my account. To my recollection, I explained that this was ridiculous as 1 ) I was not told this a week earlier 2 ) that a large banking institution could n't tell if it had my money and 3 ) that they never called me regarding this matter. Regardless, I sent a letter explaining the issue as well as requested evidence of the withdrawal by WFDS. By the middle of the next week, approximately - -, 2015 to the best of my recollection, I had not gotten the check and called WFDS. At this time, after some effort I spoke to a supervisor who told me that it typically takes 10 business days to issue a refund check. I told WFDS that this was acceptable and they agreed to - overnight me the check when it was available. I presumed then, that the check would be back to me by Tuesday, - - at the absolute latest. On Wednesday, - -, I called WFDS to inquire regarding the check. I was told then that WFDS had mailed the check to me on October 30. The - which I had been promised, apparently, had not happened. I expressed that I was upset about this and requested an explanation from the company on the following issues:1 ) Explain why it is taking 3 weeks to return money to me that WFDS has no right to. 2 ) Explain why WFDS, a large banking institution needs evidence to confirm that it has taken money from me when it has long cleared my account. 3 ) Explain what happens to my money when it is wrongfully held by WFDS. Does it collect interest and where does that go? Presuming this happens to many people and that WFDS services many auto loans, do they reap a large benefit from this? Today, Thursday, - -, a representative from an executive office at WFDS contacted me and apologized for the issues that I have faced. She explained that she is unsure where my check has been sent back to me yet, but made a best effort to explain the - issues outlined above. She was, though, very dismissive on issue ( 3 ) stating that they are a large bank and are highly scrutinized and regulated. She told me she would not go into it. Please note that the information set forth above is accurate to the best of my recollection and knowledge. I do not have the benefit of operating a call center, as WFDS does. Thus, I expect that I may be challenged, based upon their records, as to the certain dates or the minute specifics of exactly what transpired.