CB Banks Wells Fargo Complaints #1282-1301

Wells Fargo review: merchant services / equipment ( 1 comment)

AZ1123 of Glendale, US

Mar 22, 2010 12:19 am UTC

Resolved

In June of 2009 I had opened several business banking accounts at the Wells Fargo in Fountain Hills, AZ. At the time the representative suggested we can open a merchant account and suggested we can rent the equipment from their affiliate company. She disclosed the cost of the equipment. However, failed to inform me this was in fact a 36 month lease, non transferable, and would require a personal guarantee. I also did not at the time receive a copy of the contract either from Wells Fargo or the equipment provider and still have not been furnished with a contract. I made several attempts to resolve this issue and I have spoken with the manager and have filed complaint with Wells Fargo. However, as of March 2010 I have not been able to resolve this issue. I am holding Wells Fargo liable for misrepresentations as it is the company’s responsibility to make certain all sales associates who handle contractual information to be properly trained to inform potential customers with pertinent information prior to leasing equipment. I would also like to inform you that at the time I met with the sales associate I was on Wells Fargo premises, which is governed by both Federal and State regulations, and failure to inform me about this information constitutes fraud and makes this contract null and void. I am asking your assistance in this matter any information that can assist me to resolve this issue would be greatly appreciated. Feel free to contact me if you require any additional details.

I appreciate your opinion however this has become a criminal case.
Federal and state laws regulate banks; any misrepresentation an employee makes constitutes fraud and is governed by the comptroller of currency.

Resolved

The complaint has been investigated and resolved to the customer’s satisfaction.

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Franklin D

1 comments

Franklin D of US

Apr 02, 2010 2:18 pm UTC

I think this a common theme for business owners who want to blame their lack of understanding or refusal to read important contracts on somebody else. I'm a succesful business owner myself and take pride in making sure I understand everthing that is going on within my business because the bottom line its my dollar. I think this is a lesson that this owner needs to learn for their negligence and hopefully won't make the same mistake again.

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