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Wells Fargo bank closed my accounts and haven't sent me my funds. I keep getting run around about who to call; what can I do?

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  • why did they close your account? How long has it been? Commented Feb 24, 2023 at 11:58
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    This sounds like a possible identity theft case. I'd try presenting it to the bank that way and see what they say.
    – keshlam
    Commented Feb 24, 2023 at 14:23
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    Go to a physical branch and talk to a customer-service banker in person. Make sure to bring sufficient documentation to prove you are who you say you are and whatever other facts you may have about your accounts.
    – brhans
    Commented Feb 24, 2023 at 15:21
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    After all the scandals, why would anyone do/continue business with Wells Fargo?
    – findwindow
    Commented Feb 24, 2023 at 22:58

1 Answer 1

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If Wells Fargo suspect that you have been using the accounts for illegal activity, then they will block or close the accounts. They will not tell you why they have closed them, and they will not give you any money back until the investigations have concluded.

If that's the case, there is very little you can do about it.

Edit, in response to a lot of comments. Banks can be fined many millions of dollars if they are found to have allowed their accounts to be used for money laundering or other illegal activities.

So if a law inforcement agent tells the bank that a person is being investigated for such illegal activities, the bank has little choice as to what they will do. The account will be locked immediately, to stop the alleged criminal getting the money. The bank will not tell the customer what is happening, because you wouldn't tell an alleged criminal what they are being investigated for. The account holder will not be allowed access to the money, because it's subject to a criminal investigation.

There are two outcomes in the long term (which may be many months). Either the account holder is prosecuted and the money is seized. Or the account holder is given their money back and told to go away and never try to open an account with that bank ever again.

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    Not that I don't believe you, but some sort of citation would be helpful. Commented Feb 24, 2023 at 19:07
  • Why can't you sue them? A bank stealing your money seems like a reasonably serious crime. Commented Feb 24, 2023 at 19:49
  • You can sue anyone, at any time, for anything. If you don't have a good argument, that just wastes your money and the court 's time. Arguing that ill-gotten gains should not be turned over to the government is not likely to have the result you want.
    – keshlam
    Commented Feb 24, 2023 at 21:55
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    @user253751 They aren't stealing the money. They have closed the accounts, and will not give the money back while it is being investigated by law enforcement authorities.
    – Simon B
    Commented Feb 24, 2023 at 23:23
  • @keshlam what ill-gotten gains? as far as we know there are none. Keep in mind that Wells Fargo in particular has a reputation for stealings its customers' money. Commented Feb 24, 2023 at 23:24

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