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Wells Fargo Set-Off from my Business account taken from Son's account


rureadymyfriend
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I decided to migrate my accounts from Wells Fargo to another Bank. I closed my Business account in November (a DBA) with approval of the branch manager. About a month later I received a collection call on a personal account that I thought had been closed, it had a small balance still and had not been closed for some unknown reason. After doing some research I discovered WF attached a negative debit to the personal account since they had deposited funds into my Business account in Error, and I had closed the Biz account. This bank teller error was apparently done in late October and wasn’t found for about a month. I went into a branch to see if I could figure out what was going on, they advised me to contact the branch where the deposit was made in error. I did, and I asked for proof of the error, they could not provide this information since it had someone else’s personal info, they advised me to contact the branch where we closed the account, they advised me to contact the branch where we opened the account. They advised me to contact… You get the point, no one wanted to take responsibility for the error. I called WF and filed a dispute on this matter a couple of weeks ago and received a letter dated January 26, 2012 requesting I contact the branch where the deposit originated in error on Oct. 27th 2011. Having done that already, I instead, contacted the Branch where we closed the biz account yesterday, Feb. 1st where the most helpful WF manager is to mail me info and evidence showing the error and gave me the number to the recovery dept. since they charged off the account on Dec. 28th 2011. I called the recovery dept. today to discover they had taken $1288 from my Son’s savings account two days ago claiming Right of Set-off. And I still owe $40, Can You Pay That Today? Needless to say Wells Fargo has me furious!

My Son is in College in another state. My son’s account was open with his Mom (My x-wife) as a signer. My x-wife was a signer on my old Biz account and the personal account that was overdrawn by WF in an attempt to collect due to their error. This felt like I was stabbed in the heart when I heard they had cleared out my Son’s savings account. I am still trying to figure out the error…. The banks error on my Biz account was then attached to a personal account, and then attached to my Sons account because of the connection of my x-wife. Can the arm of the Bank reach that far without proving or showing evidence of the error? I am in no way connected to my Son’s account except through his Mom. It seems Criminal the way this was done. Is there anything I can do?

Edited by rureadymyfriend
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Probably not...since these accounts were DBA accounts, it was a sole proprietorship...meaning there's no difference between your business finds and your personal funds in the eyes of the bank. That being the case, you may not have any recourse other than complaining to the Office of Comptroller of Currency - their Federal regulator.

What's strange is the ex is on the business as a signer - and they took funds from an account (essentially a joint account)...

It'd be a completely different story if the funds had been in an entity account (LLC, corp) and those funds were withdrawn.

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Probably not...since these accounts were DBA accounts, it was a sole proprietorship...meaning there's no difference between your business finds and your personal funds in the eyes of the bank. That being the case, you may not have any recourse other than complaining to the Office of Comptroller of Currency - their Federal regulator.

What's strange is the ex is on the business as a signer - and they took funds from an account (essentially a joint account)...

It'd be a completely different story if the funds had been in an entity account (LLC, corp) and those funds were withdrawn.

Yes, LLC is on the to-do list for the Business.

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