ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

Woman Raises Concern Against Banking With Wells Fargo Amid $44K Loss

A social media user garnered 61.7K views on a recent video sharing her harrowing ordeal of losing $30,000 with Wells Fargo Bank.
PUBLISHED APR 12, 2024
Cover Image Source: TikTok | @effnem
Cover Image Source: TikTok | @effnem

Recently, certain banks, including Wells Fargo and Chase, have come under scrutiny due to numerous scams and customer complaints of lost funds. A TikTok user, Effy (@effnem), garnered 61.7K views on a recent video where she shared her harrowing ordeal of losing $30,000 with Wells Fargo Bank. She started the video by saying, "On Dec. 1, 2023, I found out that Wells Fargo allowed over $30,000 to be removed fraudulently from my bank account. I was not getting notified—they just allowed the money to leave."

Snapshots from the video. Image Source: TikTok|@effnem
 Image Source: TikTok | @effnem

She continued her video by saying, "I don’t know how they authorized that much money, and they don’t want to do anything about it." After conversing with the bank over calls, she discovered an additional withdrawal of $9,500, escalating the total loss to $44,000.

Despite her diligent efforts, she found herself helpless as the bank refused to take responsibility for the entire scam. Effy elaborated, "They’re closing the case. I spoke with Wells Fargo. They did their investigation. They said that I am a victim of spoofing but because they can’t prove it, because whoever hacked my account was so good at it, they’re not going to give me my money back. Literally, that’s what they said. So I don’t know what to do."

The TikTok user also noted that the funds vanished through unnoticed debit card transactions, which were inconsistent with her typical spending patterns. Despite involving authorities such as the FDIC, CFPB, and OCC, Wells Fargo evaded responsibility.

Snapshots from the video. Image Source: TikTok|@effnem
 Image Source: TikTok | @effnem

In response to the video, viewers had many suggestions for poor Effy. @Tonyar_ commented, "Get an attorney! Deposit accounts are insured by the FDIC to at least $250,000." @Ash wrote, "File a complaint with the FDIC and they will pull all the calls because at the end of the day, the signs were there it was a scammer and they are responsible for the safety and security of your account."

@hondasrdbest said, "I got $826.13 in my bank acct. If someone steals it I'm going Rambo on everyone at the bank." @Alycia Nycole shared, "How can they say you're a victim of spoofing but can't prove it? This is so terrible. I’m so sorry you're going through this."

Screenshot of a comment under the video. Image Source: TikTok|@effnem
 Image Source: TikTok | @effnem

@LucyLu commented, "Literally Wells Fargo’s, Bank of America & Chase are the worst banks ever." "This has been happening so much with Wells Fargo and Chase Bank. I'm starting to believe they're doing it themselves pretending it's someone else," remarked @shopp2226.

@Hunter Shappley wrote, "I had a similar situation and the bank refused to help multiple times and I filed a complaint with the Better Business Bureau and I had the money within a month. I’m so sorry that happened to you!." @Sal Gomez said, "I tell everyone this...DO NOT PUT YOUR MONEY IN A BANK. Open an account with a Credit Union. Trust me."

Screenshot of a comment under the video. Image Source: TikTok|@effnem
 Image Source: TikTok | @effnem

Effy's experience is not unique; several other users have also voiced their loss of trust in the bank, recounting their negative encounters. The sentiment echoes across social media platforms as individuals share their stories of disappointment and frustration.

She also urges anyone with funds deposited in Wells Fargo to consider withdrawing their money. Furthermore, she strongly advises against banking with the institution, citing her unfortunate experience as a cautionary tale.

For more such content, you can follow @effnem on TikTok.

MORE ON MARKET REALIST
"His wife says throw away a thousand dollars and go for it," host Drew Carey announced.
16 hours ago
The 51-year-old was paired with Matt Damon for the episode which was hosted by Jimmy Kimmel.
1 day ago
The 11-year-old hoped to get half a million dollars for what he believed was the heat shield from the Apollo mission.
1 day ago
She could have also won an all-expense paid trip to India along with the prize money.
1 day ago
The guest wanted $10,000 for the star note despite not knowing much about its valuation in the first place.
1 day ago
Daymond John loved the product from the moment he tasted it and was eager to get involved with the company.
1 day ago
This was a rare occasion in the history of the game show that a car wasn't the most valuable prize.
2 days ago
No such rule has ever been confirmed by the show but fans have their doubts.
2 days ago
The pawn shop owner seemed to have gotten a good deal for the set on the day.
2 days ago
An insider claimed that these changes were meant to jazz up the newest season of the show.
3 days ago
The pawn shop owner wanted to fix the car with his son, but failed to do one of the first things needed.
3 days ago
The contestant's wife also stated what she wanted when it was her turn to answer.
3 days ago
The funniest part of it all was that the shocked contestants were actually from New Jersey.
4 days ago
The entrepreneurs got him in to invest two of his buisnesses rather than one.
4 days ago
Jonathan Hugendubler pulled off a generational upset on the show to beat Scott Riccardi.
4 days ago
Steve Harvey saw an opportunity to turn it into a hilarious segment, and he was more than successful.
5 days ago
Mr. Wonderful seemed to have been highly impressed by the company and wanted a piece of it.
5 days ago
Her mother was a massive fan of the show and had passed away around the time her episode was taped.
5 days ago
The expert was also in awe of the one-of-a-kind item that was part of the set of medals.
5 days ago
Steve Harvey can be a ruthless game show host if the time calls for it.
6 days ago