Wells Fargo & Company Bank Account Or Service Complaint

Other bank product/service Account opening, closing, or management

Wells Fargo & Company Bank account or service department,

Other bank product/service Account opening, closing, or management Oregon

I authorized a Wells Fargo - account to be opened in my name with my previous employer. When I terminated my employment I had meant to keep the account open until the FINAL employer match was deposited. I started receiving letters stating a 'forced IRA ' was opened in my behalf. Whom authorized this? I was n't given a time limit on rolling the money into an IRA. Assuming the money was still in my original - I called Wells Fargo to get a check remitted to my current bank where I 'd opened up an IRA account for the retirement money. I was told that the - was still open, but the money was n't there! Instead, it contained the last remittance from my previous employer. What?! I was able to close the - account and have the balance sent by check to me, which I will have to pay taxes on. The bulk of the money was tied up in an account I NEVER OPENED! How do I get MY money? I have to open the IRA account. In order to do that, I have to not only sign an application, but I have to prove my identity!

not! I signed the form to open the account, I sent the proof of identity notarized, now I have to painstakingly call back someone at Wells Fargo to make sure that happened. I feel that I will most likely have to spend yet another hour to close the account I NEVER AUTHORIZED to open! Sad, frustrated, out time and money and still looking for MY money in -!

Wells Fargo & Company customer in Oregon
Apr 06, 2017

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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