Understanding the Claims Process - Wells Fargo (2024)

FAQs

How do claims work with Wells Fargo? ›

Within 10 business days, your claim will be resolved or your account will receive a temporary credit if additional investigation is needed. We will also reverse related fees and adjust interest as applicable, if temporary credit is issued or upon the resolution of your claim.

Call 1-800-642-4720 to report credit card fraud.

Wells Fargo sends you a new credit card and closes your old card when you submit a dispute for unauthorized charges. It can take Wells Fargo 30 to 60 days to investigate your dispute, accept your claim, and refund your money.

If, for whatever reason, you believe you're owed money and the bank has not yet made contact, you may call Wells Fargo at 844-484-5089, Monday through Friday, from 9 a.m. to 6 p.m. Eastern time.

To initiate a dispute please call 1-800-642-4720 or sign on to Wells Fargo Online and access Track Claims in Account Services. Once you contact us, we'll help resolve your claim as quickly and easily as possible. For questions about a dispute you have already filed, please call 1-800-390-0533.

Your insurance company will look at your policy to see if it covers the type of damage you had. An adjuster might visit in person or look at pictures of the damage to estimate repair costs. The insurance company might ask for more information to decide if it will accept your claim.

Bank customers may then submit a claim by simply identifying the disputed transaction and following the prompts. Wells Fargo will notify the customer of their ruling once the investigation is complete. If they feel the claim is valid, the funds will be returned to the customer's account permanently.

Typically, the bank has a team of investigators responsible for investigating suspicious activity that comes up. At a high-level, it involves detecting instances of potential fraud and escalating these cases to investigators who can determine whether it was fraud and, ideally, what type of fraud has occurred and how.

If you find a suspicious card transaction, call the number on the back of your card immediately. Your card comes with Zero Liability protectionFootnote 1 ¹ which means you will be reimbursed for promptly reported unauthorized card transactions, subject to certain conditions.

For example, banks usually issue refunds within 7 to 10 days for transactions involving a stolen debit card or unauthorized electronic fund transfers. For more complex cases, like those involving considerable sums or intricate tactics like a check scam, most banks will resolve claims within 10 to 45 days.

However, if you are an eligible settlement class member with an uncashed payment, you may still claim your payment. To do so, you must send a written request, either via email to info@wfsettlement.com, or via U.S. Mail to: Wells Fargo Unauthorized Accounts Settlement, P.O. Box 2594, Faribault, MN 55021-9594.

How long does it take for funds to settle Wells Fargo? ›

Wells Fargo Bank's general policy is to make deposited funds available on the first business day after the Bank receives a deposit. In some cases, however, we may place a deposit hold on these funds and delay availability for up to 7 business days.

All types of deposits held at Wells Fargo Bank are covered by FDIC insurance including the following examples: Checking Accounts. Savings Accounts. Time Accounts (CDs)

A chargeback occurs when you successfully dispute a charge on your credit card. The charge is taken off your credit card account and the money paid to the merchant is reversed (or “charged back” to the merchant). Many people dispute credit card charges for services not rendered.

If a cardholder files a bank dispute, the bank will investigate the claim. They will then decide whether the cardholder's claim is true, and if a chargeback is justified. If the bank can clarify the charge to the cardholder's satisfaction, then the matter is resolved.

Once the bank receives the cardholder's inquiry, the Federal Trade Commission rules give them 30 days to respond, acknowledging the customer's claim. In an effort to provide better service to customers, though, banks will generally move quickly on disputes.

The bank is alerted of suspicious activity through either the bank's detection system or from fraud claims from customers. They then collect all the information they have before conducting a thorough investigation. They then review all the details and make a decision on the case before taking action.

Wells Fargo customers from 2011 to 2022 are potentially covered by the settlement. Wells Fargo is required to notify its customers if they are included but if you believe you are eligible for a payment and have not received a letter yet, you should first contact Wells Fargo at 844-484-5089.

Important Information About My Wells Fargo Deals

To receive Deals, You generally need to make at least one (1) purchase transaction with Your Eligible Card(s) at a merchant. To redeem Deals, You must first activate the Deals and then use Your Eligible Card(s) to receive the benefits.

In general, when a bank is notified about an unauthorized electronic transfer, it must investigate the situation and report to the account holder in a specific amount of time. If the transaction is unauthorized, the bank must refund all or part of the money depending on how quickly the account holder notified the bank.