My $4,829 deposit was made on 12-19-05. Today is 1-30-06 and still my money is nowhere to be found. At the time I made the deposit the bank teller had me fill out a special form and she gave me a special receipt titled "Collection Item Receipt". This was the only receipt she gave me. She also told me that it would probably take about 7-10 business days to clear the check but that it could take as long as 3 weeks.
So I waited 3 weeks, checking my account online everyday to see if it had cleared yet. Finally, after three weeks I went into complain to my local branch where I deposited the check. They just told me to keep waiting due to it might of been delayed due to the holidays. Meanwhile, I have already begun to make payments on this money even though I hadn't even gotten the money yet. I also complained to the 1-800-wellsfargo phone line and had sent them an email. (no response to the email and the phone rep. Was an idiot)
So I waited another week and still nothing, bank is still telling me the same thing; keep waiting. However, now they are saying the found the check and it was received by one department but is in the process of being transfered to the accounts receivable department. They informed me that once the accounts receivable department processes it it will immediately deposited into my account (this was two weeks ago). Meanwhile, the issuing bank of the check (CITI BANK) is telling me the money was paid to Wells Fargo and it should be in my account as of three weeks ago.
WELL it been SIX weeks now and Wells Fargo is still just giving me excuses and not trying to do anything about it. They act as if they cant even find the check and they don't seem to want to move things to the next level to resolve the problem. I've already made TWO payments on this money. Still no money. HOW CAN A BANK GET AWAY WITH IS?
This problem has caused me financial harm. I won't get into what this has caused me but lets just say I desperately needed this money over four weeks ago.
In summary, Wells Fargo Bank HAS EITHER LOST MY MONEY Or IS LYING TO ME AND HOLDING IT SOMEWHERE TO COLLECT INTEREST ON IT My complaint on Wells Fargo Bank started about four weeks ago. I deposited a large check into my savings account. The check was for $4,829 and was in my name from my credit card company CITI BANK (it was a balance transfer check). It's been six weeks today and Wells Fargo still has not deposited my money into my account.
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