Thursday, July 15
Sub: Complaint against Denial of Account Opening
I have unsuccessfully attempted to open a Checking Account with WELLS FARGO BANK, despite my multiple visits to their branch at 14325 Cedar Avenue South, Apple Valley, MN 55124 Branch.
I have been assisted by the bank's personal banker Ms. Beatriz D. Winters. While the officer assisted me during ALL my visits, the incremental information provided progressively has led to a confusion regarding the banks policies towards opening a new Checking Account; until the Branch Manager Ms. Nona Gibson finally turned me down and informed me of the banks decision that the account could not be opened because of adverse information obtained about me. The reason provided was adverse information against me which is "too many inquiries in a short duration" on my Chexsystems Report. This decision was made after requesting multiple information that could and affirms my good standing.
The sequence of events is as follows
During my first visit to the branch on 25th June apart from the personal information I was also instructed to disclose my expected average daily balance that I would be maintaining in the account. This is the first instance that I have been asked this question. However I answered the question.
After some attempts at the computer terminal, the officer then advised me that there was a problem opening my Checking account and I was verbally instructed to obtain a letter from "Chexsystems" allowing me to open the account. I was also handed the "Deposit Account Adverse Action Notice".
Upon enquiry with Chexsystems, I established that Chexsystems does not and did not participate in the decisions of the banks and merely provided banking history information about an individual. Acknowledging a possible miscommunication (though my English communication skills including listening and speaking abilities are tested to International Standard), I proceeded to obtain my report to facilitate further communication with the bank. I received my report within 2 days.
My Chexsystems report contained Inquiries initiated By Consumer Action from three (3) banks of which I currently am a customer of and another enquiry from Wells Fargo Bank.
Upon returning to the bank, the same bank officer offered to assist me and while seemed surprised by my return in that short period, reviewed the report and "recollected" that the banks (of which I continue to be a customer of good standing) have been purportedly reporting me and my accounts as "NSF". I was surprised with the findings and drew the officer's attention to my "No information found" under the "Reported Information" in the Chexsystems report. I also assured that I did not have a single financial instrument till date which has been returned unpaid.
The officer then advised me to obtain a letter from each of my banks to support my claim after which she could have no hesitation to open the account. I was unhappy since this requirement was not communicated to me during my first visit neither was I convinced that the banks were reporting my account as NSF.
I clarified that it could be difficult to obtain the letters from banks since 2 out of my 3 existing banks were out of MN state and had no branch offices in Minnesota. I offered to provide information readily from one bank based out in Minnesota, however was turned down pending information from all the banks.
While I still await the testimonial from one of the three banks, I obtained two testimonials from two separate banks, one from a first ranked1 national bank and another from a local bank, which in my opinion, combined with my Chexsystems report could be sufficient affirmation towards my good standing and enable the bank to proceed with opening my Checking Account.
I therefore visited the branch on 14th July at 6:00pm and was greeted by the same bank officer. After the officer verified all the information and instructed me that I would have to await the Branch Manager's approval and since the Branch Manager was unavailable at that instance, it would be communicated to me at a later date. This was again contrary to the earlier assurance given to me.
Being discontented by the explanation provided, I requested an appointment with the next higher officer of the branch to which I was informed that this particular bank officer was the senior most authority at that instance in the bank. I waited on the banks decision next day and was communicated that the bank would not be able to open an account. Upon requesting a reason, I was informed that the bank had "adverse information against me".
When I requested the source of the information the bank denied disclosing the information however upon repeated request (that I wanted to dispute any untrue information and that I had a right to know the source which led to the banks decision), the reason for denied account opening changed to too many inquiries in a short duration.
I feel that this reason alone is not sufficient to deny a Checking Account to me, in the light that I have provided good standing letters from the existing banks. I therefore feel that I have been wrongfully denied opening of a checking account by WELLS FARGO and feel discriminated. Also the inquiry by WELLS FARGO on Chexsystems with an unsuccessful account opened status leads to damaging my creditability.
I am attaching copies of all documents exchanged between myself and the bank along with this letter. I therefore wish to enlist the Boards help in investigating this matter and advise me of the investigations outcome and to advise me of whether a violation of law has occurred.
I can be reached during the daytime at (#)#-# or via email at (address and phone number removed by usacomplaints.com).
Sincerely,
Shree
Apple Vallet, Minnesota
U.S.A.
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