Some Wells Fargo customers have had a question this week when they checked the balance in their accounts: Where's my money? The bank has acknowledged that some people can't see or access amounts that were supposed to have been deposited, CNN reports. That's caused problems, with customers reporting they were charged overdraft fees and small-business owners saying they couldn't meet payroll. A Dallas woman told NBC News she had to borrow $500 from a friend to move into her new apartment after deposits not only were missing, but her account was hundreds of dollars overdrawn. Amber Matherly said she felt "entirely panicked."
It's the second time this year Wells Fargo has had this problem. In March, it took the bank a few days to restore balances. Wells Fargo offered assurances Friday that the issue was mostly resolved and would be completely solved soon. An analyst at Bankrate suggests that anyone who spots a problem with their account contact the bank's customer service staff by phone, social media, or any other available means. Those with a linked savings account might consider moving money from it to cover bills until the problem is fixed, Greg McBride said.
In the meantime, customers are losing faith in their bank. A woman in Alaska should've had her rent and utility bills paid by Friday with deposits due Wednesday. Instead, Wells Fargo told her Friday that she won't be able to get to her account for three to five days. "I simply cannot live without my funds now," Jeani Cortez told NBC. A customer in Texas who also suffered through the March outage plans to switch banks. "The words 'banking' and 'confidence' shouldn't end in a question mark," he said. Two weeks ago, he was laid off. "That money was a little bit important to me yesterday," Brent Morrison said Friday. (More Wells Fargo stories.)
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