Identifying the Common Wells Fargo Scams

If you’ve received a message that appears to be from Wells Fargo but something seems a little off, it could be a bank or identity theft scam. Some of the common Wells Fargo scams include tech support, wire transfers, and fake check scams. You may even get a fraudulent notice about tax forms. The following sections contain all the details about these scams and how to avoid them.

What are Wells Fargo scams?

Scammers use a host of seemingly legitimate ways to access your Wells Fargo bank account. These criminals are stealthy and employ tactics like phishing emails, text messages, phone calls, and even fraudulent websites that include the bank’s logo.

Fortunately, these scams come with some details that can help you know they’re not from Wells Fargo. Below are the most common Wells Fargo scams, along with some actionable tips and steps to avoid falling for them.

Phishing emails

Phishing emails are popular scam techniques that urge the recipient to act quickly before there’s time to think about consequences. These emails typically claim your account is frozen due to suspicious activity and will require action on your part. Sometimes, it’s simply a message stating that you need to dispute recent charges on your account.

If you receive these phishing emails, you can spot them quickly by looking for typos, grammatical errors, incorrect capitalization, and impersonal greetings. Since scammers often send batches of emails, they won’t use your name but may use phrases like “Dear Sir or Madam.” The best identity theft protection keeps your data safe from scammers and hackers.

Text messages

When scammers send Wells Fargo text messages, they’re trying to get your financial data. If you get a text message from an address or phone number you don’t recognize, don’t reply or click on a link.

Some of the common Wells Fargo official short codes are 93557, 93733, 93729, and 93236. Wells Fargo doesn’t ask you to send your private information via text message. If you have any doubts, sign in to your official Wells Fargo account online for assistance. Text message scams may also include poor grammar, typos, and incorrect capitalization.

Phone calls

Scammers may try to call you, claiming to be Wells Fargo employees. They usually ask for your Social Security number, bank login information, and other private data. Scammers might even ask for access to your device by sending you a link.

Fraudulent websites

Some scammers set up fraudulent websites to fool customers. These can be tricky because scammers sometimes use fake websites that include the Wells Fargo logo, which may look official, enticing you to think it’s safe and legitimate. Oftentimes, these fake websites request card or account information and may even demand that you share your online login credentials. Wells Fargo will never request your login information, and the only links you should open are from “WellsFargo.com.”

Glue and tap

This Wells Fargo scam happens when someone pours glue into an ATM card reader and then pretends to be a helpful stranger. The person will suggest you tap your card since inserting it doesn’t work. When you tap your card, the transaction window is still active when you walk away, and the thief can make additional withdrawals from your account.

Avoid this scam by using another ATM if the card reader doesn’t work. Alternatively, if there’s a helpful stranger who suggests you use the tap function, it might be best to walk away. Always log out when you end a transaction so no one else can see your bank account information.

What does a Wells Fargo scam look like?

A Wells Fargo scam can look like many other scams but will include information that affects your account. The most common Wells Fargo scams mention at least one of these:

• Fake fraud alerts
• Unusual account activity
• Ask to send money
• Too-good-to-be-true promises
• Account verification

Fake fraud alerts

One of the tactics scammers may use is sending fake fraud alerts. They may ask if you tried to use the Zelle app or another third-party app, like Venmo. These imposters will ask for your access codes to try and sign on to your account. They’ll claim that it’s blocked or frozen and that your account needs verification. Zelle and other reputable businesses will never ask for your codes or other private information through the app.

Unusual account activity

Scammers may send you a text or email claiming there’s been unusual account activity and include a link for you to click to get more information. You should never click on a link from a number you don’t recognize. If you’re concerned, check your account on the official Wells Fargo app or website.

Ask to send money

Messages asking you to send money are cause for skepticism, as your bank won’t randomly make this request. You may get a scammer claiming to be a Wells Fargo employee and telling you they overpaid for an item or service. They’ll ask you to send the difference to resolve the issue. Again, if you have any questions, contact Wells Fargo directly.

Too-good-to-be-true promises

If you receive communication promoting a big giveaway, asking you to fill out a survey, or wanting you to click a link for a special credit card promotion, it could be a scam. You’ll likely receive a link that directs you to another website, which could install malware on your device.

Account verification

This is a common alert that many people receive. The scammer will send you a text or email saying that you need to verify your account or update your information. It may demand you reset your password, so you believe it’s a genuine text attempting to protect you. Scammers want your private information, and this is an easy way for them to get it.

What to do if you fall for a scam

If you fall prey to a Wells Fargo scam, it’s crucial to act quickly. You’ll want to take some immediate steps to remedy the situation and prevent further issues. Scammers are smart, but with these tips, you can mitigate future damage.

Review your accounts

Check for unauthorized activity by logging in to your official Wells Fargo account. While you’re there, change your online banking password and include letters, numbers, and symbols.

Contact the fraud department

Contact the Wells Fargo fraud department by calling or emailing them directly. If you have checking, savings, or debit card fraud, call 800-869-3557 to report the issue. If you received a suspicious email or text and clicked the link, call 866-867-5568. Otherwise, report the fraud to reportphish@wellsfargo.com.

File an FTC complaint

Report scams to the Federal Trade Commission. You’ll be asked some questions about what happened, and the FTC will guide you through a recovery plan. These steps can help repair any damage scammers may have caused you.

Lock your accounts

You can temporarily turn off your Wells Fargo credit or debit card to restrict scammers from using it for purchases. Any recurring payments you have set up will still go through. When you log in to your Wells Fargo account, search under the Card Controls menu and toggle the settings to turn your debit or credit card off. You can also ask them to freeze your accounts if you call to report the fraud.

Freeze credit

Contact the major credit bureaus to put a freeze on your credit to prevent anyone else from accessing your credit information. If you choose to apply for new credit in the future, you’ll need to contact them to remove the freeze. Here are the phone numbers and email contact addresses for each credit bureau:

• Equifax: 888-298-0045 or https://www.equifax.com/personal/credit-report-services/credit-freeze/
• Experian: 888-397-3742 or https://www.experian.com/freeze/center.html
• TransUnion: 800-916-8800 or https://www.transunion.com/credit-freeze

Run antivirus software

Since hackers are notorious for installing malware on devices to steal your data, it’s always good to run an antivirus scan. Antivirus software helps protect against malware in the future and threats that may be lingering on your machine now if you’ve clicked on a dangerous link.

Preemptive security measures to protect your bank account

There are security precautions you should take if you haven’t fallen victim to a Wells Fargo scam yet or if you have and you want to keep yourself safe going forward. These include options like using one of the best password managers, checking your account periodically, and using Wells Fargo tools at your disposal.

Password protection

When you set up a password, use a combination of characters, letters, and numbers to strengthen the password. Set up two-factor authentication for an extra layer of security protection. A password manager, like NordPass, will boost your online account protection.

Routinely check your account

You should monitor your bank account regularly to check the status and look for suspicious activity. If there are unauthorized transactions, it’ll be much easier to catch them if you frequently review your account.

Zero-Liability Protection

Wells Fargo has zero-liability protection for debit and credit card customers that costs nothing. If you report unauthorized card transactions promptly, you won’t be held responsible for the fraudulent charges.

Wells Fargo scam FAQs

Bottom line

Wells Fargo scams can cause customers many undue hardships, like having their identity and finances stolen. Scammers have developed believable techniques to trick you into giving up your private information, utilizing phishing emails, text messages, or even phone calls to steal what belongs to you.

Now that you know the red flags to look for, you won’t be susceptible to these Wells Fargo scams. If you receive communication that seems to be from Wells Fargo but isn't quite right, one of the best things you can do is to just take your time and consider the situation. Never act urgently and always use caution before responding to any message or clicking on links from unknown sources.

The best antivirus software will help protect you against the most advanced threats. If you have any concerns about your account, contact Wells Fargo directly for assistance.