Every month, I pay two bills totaling $1000 using Wells Fargo’s pay bill feature. However, despite Wells Fargo mailing the checks ten days ago, the recipients never received them. Upon contacting the post office, they confirmed they didn’t have the checks. Wells Fargo stopped the payments but informed me that I wouldn’t receive a refund and must file a claim instead. Despite the checks not being cashed, Wells Fargo stated that they wouldn’t refund the money.
My concern is whether it’s legal for Wells Fargo to withhold a refund when the money is lost but not stolen, as the checks haven’t been cashed. The missing payment has not only caused me to miss my May due date but also put me in a position where I cannot afford to make a double payment. Wells Fargo’s stance seems to leave me at a loss of $1000 with no recourse.
I’ve experienced a similar situation where I went to the store and used their bill payment service, but the money was sent to a company with the same name. I called the 800 number, and they informed me that the company had returned the money. I then returned to the store where I made the payment, and they issued a refund. This transaction was completed electronically, and I received a receipt at the time of payment.
The money isn’t lost - the checks just haven’t been cashed yet. The bank can’t control the post office, which can take days or weeks to deliver mail. Once delivered, the checks might just be sitting on someone’s desk.
You said the checks were sent only ten days ago, which isn’t much time for delivery and deposit.
If the bank stopped payment, contact the recipient. If they try to deposit the checks now, they’ll bounce, they’ll get charged a fee, and you might face issues with them.
Your representative is in error. Are you certain that the stop payment in bill pay was made correctly? You receive your money back if they stopped paying on your bill pay check, but I’m not sure how many business days it takes. It takes, I believe, a few bus days.
Document everything related to the missing checks. Contact Wells Fargo and escalate the issue, requesting to speak to a supervisor. If necessary, file a complaint with the Consumer Financial Protection Bureau (CFPB). Consider legal advice if the issue remains unresolved.