If you received a certain type of phone call in the past decade, you could be owed money from Wells Fargo — up to $5,000. The bank has agreed to a multi-million-dollar class-action settlement for unauthorized call recordings, and you might be one of the people eligible for compensation.
Let’s go step by step through what this is to you and how to receive your refund.
Why is Wells Fargo refunding customers?
Wells Fargo was sued with a class-action lawsuit alleging the bank and its subsidiaries were recording customer calls without customers’ knowledge. The calls were made to sell credit card processing services by utilizing The Credit Wholesale Company, Wells Fargo, or Rather than taking the case to court further, Wells Fargo settled. That is to say that affected customers — both individuals and small businesses — are now eligible for payment for invasion of privacy.
You could be eligible if you got this type of call
You’ll be eligible for payment if you satisfy one specific condition
You were contacted for a sales or solicitation purpose by The Credit Wholesale Company between October 22, 2014, and November 17, 2023.
These calls were made to resell credit card processing services on behalf of Wells Fargo or Priority Technology Holdings.
If you can confirm that you were called by one of those companies and you have either the phone number that was used to call you or the name of the firm that called you, you can file a claim.
Claim up to $5,000
If you believe you are qualified, don’t wait. Here is what to do:
1. Visit the official class-action settlement website.
2. Make the claim online, typing in your name and the number that was called.
3. Alternatively, you can print off the form and complete it and send it by post according to the instructions on the website.
The deadline for making your claim was April 11, so only claims up to then will be paid.
How much will you receive?
All eligible persons receive between $86 and $5,000, depending on the number of people who have made a legitimate claim. The lower the number of claims, the higher your payout might be.
Remember that settlement money only pays out to those who validly filed within the timeframe. The sooner claims are submitted, the more likely it is that the full $5,000 amount might be received.
Why this matters
This case shows how seriously courts are taking privacy intrusions, especially where businesses record phone calls without your knowledge. Even if it was decades ago that you had the one call, you still retain rights.
If you were affected and timely filed your complaint, beware. A check from Wells Fargo could be headed your way soon.
