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Our mother passed away in June 2012 in Florida. She had an investment account with Wells Fargo Advisors (originally with Wachovia, purchased by Wells Fargo). My brother and sister and I have been trying since July 2012 to get Wells Fargo to close this account and distribute the assets among the three of us, our mom's named beneficiaries. Wells Fargo has created one obstacle after another for almost 7 months now. We have submitted every bit of paperwork they requested, and now the line has gone dead, and no one appears to be responsible for closing her account. Her original financial representative says he can't handle it, that we need work with corporate who asked for more and more forms to be filled out and notarized (which we did), and who now doesn't respond at all. Wells Fargo recently posted record profits--no doubt, corrupt business practices like this have contributed.
The complaint has been investigated and resolved to the customer’s satisfaction.
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I have a similar problem. This must be a common thread in Wells Fargo maintenance of deposits to make the SEC or FDIC happy. They keep money that belongs to deceased account holders in spite of wills, trusts, lawyers, etc... The legal recipients are ignored. I can't get anyone above the "specialist" they assigned to my case to call me.
I have the same problem, they make you jump through hoops and then the line is dead and no one seems to be able to help. My deceased husands money is after 6 months still sitting there and I have not a clue how to proceed next. Meanwhile, tuition, braces, etc are piling up. How can they do this? Has anyone found a remedy besides getting an attorney?
I'm having the same problem with Wells Fargo in Brooklawn, NJ. My mother passed away last month and I have bee to the bank three separate times doing what I can in supplying the necessary paperwork to release the measley $253 balance left in my mothers checking account. I am executor and sole beneficiary in her will. First they informed me that I needed the original death certificate and will (understandable). I left my first visit needing what they called an L8 form. I downloaded this off internet filled it out and returned a week later, only to be then told I needed a court order of probate. I then paid $100 at the county office to probate the will and get a 'short certificate '. I then returned for the third time with all the paperwork.
The branch manager stated that I now had everything I needed and that the worker behind the desk (felt I truly knew Michael after fighting and explanations of 3 visits) was to then start the closure of the account. He then telephoned to get things going with their 'legal dept' who then informed him that I needed an EIN number! Michael, a bit furious as well asked why after more than four calls this was the first mention of needing an EIN number.
Now let me fast forward a bit to explain that after returning home angry and beaten, I found out EIN stands for employee identification number. Both my mother and I have been on SS and not had an employer for over 30 years! What the hell is wrong with this bank? Why all the misinformation?
Our mother passed away December 2020. We have been trying to transfer funds from 3 brokerage accounts she had invested with Wells Fargo for a year now. We had to go through probate, but then have filled out form after form to no avail. It's a black hole. You fill out the forms they request, then hear nothing. They have your phone number, email, and address, yet no response from them. When you call on the phone, you get a brand new uninformed employee each time. Each of us (myself and siblings) follows the new instructions for "refilling" the paperwork out each time one of us calls. I am fed up and plan to close my business and personal accounts with Wells Fargo. Any advice as to what can be done, would be greatly appreciated.