Last year, Wells Fargo notified me to update the address on my small business account, as it was registered to a P.O. Box, which was no longer permitted. I promptly adjusted it to my home address online and updated my credit card billing addresses with all vendors. I assumed the matter was resolved until three days ago when Wells Fargo unexpectedly closed my account and withdrew all funds. Each time I inquire, I receive conflicting explanations. While my address was updated, it seems there was a clerical issue, and now they insist I can’t use my home address for business. They mention a hidden physical location address only accessible to representatives, which needs updating. Though I acknowledge my oversight, my primary concern now is retrieving my funds. Despite switching banks and updating all necessary information, the timeline for receiving my money remains uncertain. Does anyone know how long it typically takes for Wells Fargo to issue a check after account closure?
Your account termination has been handled inconsistently and frustratingly by Wells Fargo. You need to take care of the clerical issue, but for now you just want to get your money back. After an account is closed, the time it takes to get a check varies, but it usually takes a few days to a few weeks. Keep putting pressure on Wells Fargo to provide clarification and updates, and if you want to move things along quickly, think about getting advice from banking authorities or legal counsel.
Typically, banks won’t take this action unless you have a significant number of overdraft fees, have broken a lot of rules, or have engaged in a lot of fraudulent conduct.
A cheque will be mailed to the address listed on the account if there are any funds in the account.
By being persistent and following the right channels, you should be able to get your money back from Wells Fargo.
Timeline for Wells Fargo Check Issuance After Account Closure:
While Wells Fargo does not publicly disclose a specific timeframe for issuing checks after account closure, reports from users indicate it can vary from a few days to up to two weeks.
Steps to Recover Funds:
Contact Wells Fargo Again: Call their customer service and calmly explain your situation. Request to speak with a supervisor, citing previous attempts to resolve the issue.
Request Written Confirmation: If they assure you that a check will be issued, ask for written confirmation detailing the estimated mailing date.
Explore Expedited Options: Inquire about any available options for expedited check delivery, even if there are associated fees.
Consider Filing a Dispute: If Wells Fargo is unresponsive or if the timeline seems unreasonable, you can file a complaint with the Consumer Financial Protection Bureau (CFPB). They can assist in mediating the issue with Wells Fargo. Here’s the link to file a complaint with the CFPB: CFPB Complaint Portal