Wells Fargo customers report missing deposits to their bank accounts
Wells Fargo customers took to social media this week to voice their alarm over direct deposits they had made that did not show up in their bank accounts.
A rash of customers contacted Wells Fargo on Thursday through X, formerly Twitter, to inform them of the issue as well as voice their frustration. Some insisted they would switch banks.
"I'm taking my checking, my savings, and my IRA from Wells Fargo Advisors," one customer said in a tweet. "Safer burying in my backyard!" That same day, more than 100 reports were submitted to website status monitor Downdetector, more than half of which involved mobile deposits.
By Friday morning, however, most of the account issues had been resolved, a Wells Fargo representative told CBS MoneyWatch.
"A limited number of customers were unable to see recent deposit transactions on their accounts," the spokesperson said in a statement. "The vast majority have been resolved and the few remaining issues will be resolved soon. We sincerely apologize for any inconvenience."
The spokesperson did not specify what caused the problem.
Major inconvenience for some
Confusion over the disappearing deposits fueled a host of angry posts on X (the social media platform formerly known as Twitter). More than a thousand tweets mentioned Wells Fargo on Thursday, data from hashtag analytics tool Tweet Binder shows.
You “misplaced” two of my deposits as well as God knows how many others. I’m taking my checking, my savings, and my IRA from Wells Fargo Advisors. Safer burying in my backyard! @BurkeandHerbert I’m on my way!
— Lisa (@RealityLuvr) August 3, 2023
One user expressed frustration about having to miss work to pay their rent in person after struggling to deposit the money at three different Wells Fargo branches.
"I want [Wells Fargo] to pay me for my time that I now have to take off for work tomorrow to deposit this in person," the user tweeted.
Another customer complained that they would not be able to pay their rent at all because their money went missing.
"I don't have enough cushion for them to lose a $2K deposit when rent is due," the user said in a tweet. "How does a bank stay in business like this?"
🤬-heart attack. So Wells Fargo has a problem with lost deposits, they are aware but don't know when it will be fixed. I don't have enough cushion for them to lose a $2K deposit when rent is due. How does a bank stay in business like this @WellsFargo
— JustJeani🟧 (@JustJeani) August 3, 2023
This isn't the first time Wells Fargo customers' deposits have done a disappearing act. The bank said in March that customers' deposits were "not showing on their accounts" due to a "technical issue," NBC reported.