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Wells Fargo bank branch in NY

Technology > Investment Platforms

Wells Fargo Customers Report Online Account Balance Problems

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What You Need to Know

  • Trouble reports, while down significantly, continued Friday.
  • The bank said a systems issue has been resolved.

Consumers went online to report trouble Tuesday with their accounts at Wells Fargo, which has drawn complaints on social media about various glitches in recent months.

While the trouble reports subsided and then stayed relatively limited throughout the week, complaints hadn’t completely disappeared by Friday.

Downdetector, which tracks outages at financial institutions, social media platforms and communications companies, showed it had received more than 350 consumer problem reports on Wells Fargo around 2:15 p.m. Eastern Time on Tuesday.

More than 70% of those reports dealt with account balances or transactions, the site indicated.

Problem reports stayed under the 100 mark on Downdetector as of early afternoon Friday.

While Wells Fargo didn’t respond to a request for comment Tuesday, the bank provided the following statement to ThinkAdvisor on Friday: “Due to a systems issue that has been resolved, some customers may have experienced a delay in posted transactions. The majority of customers are not affected by this issue. Any overdraft fees incurred as a result of this incident will be automatically reversed.”

On X, formerly Twitter, one increasingly frustrated user who resorted to using an angry emoji tweeted to Wells Fargo that the bank’s system was down nationwide Tuesday.

“Thank you for bringing this to our attention. Technical teams are aware and working to resolve this issue as quickly as possible,” the bank’s @Ask_WellsFargo account responded at the time.

One Downdetector user posted Tuesday about having two “debit card pending correction” charges with no explanation, including where the money was going. Downdetector and X posts Monday and Tuesday indicated other customers were finding similar random charges for various amounts.

Downdetector users also reported account balance issues in previous days, including one with a newborn who posted his account that had amounted to more than $7,000 and had gone negative.

On Friday, Downdetector users reported finding unexpected negative balances in their Wells Fargo accounts. “I’ve never had this happen before and I’m extremely upset,” one posted. “This is my clue it’s time to change banks!”

“Hey @WellsFargo, where’s my paycheck?” one X user posted Friday afternoon. “We are having a known issue right now. Our technical teams are aware and working to resolve this issue as quickly as they can,” the bank’s customer assistance account responded.

In August, consumers took to social media sites to report problems transferring funds and using their debit cards at Wells Fargo. And about three weeks earlier, customers complained about deposits that appeared to be missing from their bank accounts.

In March, Wells Fargo online customers reported account issues, including direct-deposit paychecks that appeared to be missing.

Image: Bloomberg


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