Wells Fargo Freezes 92 Year-Old Man’s Bank Account Without Notice, Triggering Eight Month Battle To Withdraw His Money: Report
A 92 year-old man who recently lost his “true love” says Wells Fargo abruptly froze his account, triggering an eight month battle to access his cash.
Frank W. Pfluger says he discovered Wells Fargo locked him out of his bank account just weeks after losing his wife of 67 years in September, reports NBC10 Philadelphia.
Frank says he was trying to withdraw a few hundred dollars from his account, but the lender unexpectedly blocked him from accessing his funds.
“There should have been close to $2,000 or $2,500 in it and the ATM popped up and said ‘Insufficient Funds’.”
The account in question is a joint account between Frank and his late wife Miriam. Frank says Wells Fargo had no legal basis to freeze the joint account even though his wife had passed away.
“We could never get a straight answer as to why they had bothered to freeze the account because it was a joint account with rights of survivorship.”
Frank says Wells Fargo asked him to complete a letter of authorization, which he did four times between November 28th, 2023, and January 4th, 2024.
On April 1st, Frank received a letter from Wells Fargo saying that “the Estate process has been completed and the funds are available to withdraw… either at a Wells Fargo bank branch or online money movement.”
But even with the notice, Frank still could not access or withdraw his money. At that point, he reached out to NBC10.
The media outlet approached Wells Fargo to inquire about Frank’s case. Within days, Wells Fargo issued a statement saying “We are happy to have resolved the matter for the customer.”
When pressed for more details, a Wells Fargo spokesperson directed NBC10 to a part of its website that explains what happens to a joint account when a loved one passes.
“Most of these bank accounts carry automatic rights of survivorship, which means the joint owner will have full access to the funds.”
Within 10 days of seeking media intervention, Frank says he received a check from Wells Fargo amounting to $1,993.91.
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The post Wells Fargo Freezes 92 Year-Old Man’s Bank Account Without Notice, Triggering Eight Month Battle To Withdraw His Money: Report appeared first on The Daily Hodl.
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Author: Henry Kanapi
