Wells Fargo accidentally drains $4,000 from customer’s bank account, pushing balance into red for days: report

Banking giant Wells Fargo allegedly left a customer’s account in the dark for days because of confusion over a paper check.

Gerald Monroe Mann, a Sacramento resident and longtime Wells Fargo customer, says he wrote a check for $400 — and soon after discovered $4,000 had been withdrawn from his account, CBS News reports.

After spending hours on the phone, Mann confirmed that the recipient had cashed the check at Wells Fargo — and the bank had mistakenly added an extra zero to the amount.

The payment drained both Mann’s savings and checking accounts, leaving him $900 in the red.

Mann says he went back and forth with Wells Fargo representatives and was told he would have to wait 10 business days for his case to be processed. Meanwhile, he says he was essentially cut off from his finances.

“Now I messed up because you were wrong. Not cool. Why would he treat me like this?

I was a very good customer… I’m not rich. Money is important.”

In a statement, Wells Fargo says that after learning about the accident, it returned the missing funds to Mann in about four business days.

The lender also issued another statement after news of the bank error broke in an effort to explain why it took so long to repay Mann.

“We are pleased to have been able to help resolve this issue for our client. As an industry, banks must follow a set process that includes allotted time frames to investigate and help customers recover funds involving check disputes. We are working to complete the process as quickly as possible on behalf of our clients.”

Mann says that even though Wells Fargo didn’t charge him overdraft fees, he ran out of funds for eight days.

“When they make a mistake, it shouldn’t be that person’s problem. It can’t be the first time it’s happened. And you have to have something in place to take care of that so people don’t get confused in the process.”

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