Bank fraud: An Upstate couple's warning after losing $15,000

Yahoo

11-03-2025

(WSPA) – If someone steals from your bank account, you're protected right? Unfortunately, it's not always that clear cut since the bank won't usually return your funds if someone tricked you into moving the money.
But what if your account was accessed and your money was used without you doing a thing
One Upstate couple is warning others to check their accounts carefully, after their long fight for their rights when they lost $15,000 to bank fraud.
As a land developer in rural Oconee County, Chad Galbreath had always felt secure using his local bank.
So when he and his wife Heather discovered dozens of random purchases they never approved in their business account, they immediately called a friend at their Wells Fargo branch in Seneca.
'We were panicking, you know. And so she and I just spent hours on the phone going through charges,' Mrs. Galbreath said.
The Galbreaths said nearly $10,000 was missing from their business account, but were told the account had been frozen with nearly $9,000 remaining. The next day came a wake up call.
'By morning we were $700 in the red, so it had continued even overnight after we had called and talked to the morning, so there wasn't really a hold on the account, so we went into the negative,' Mrs. Galbreaths said.
'That's just crazy, like, why they let this many go through,' Mr. Galbreath said.
They assumed they had fraud protection for the charges they never approved, until Wells Fargo repeatedly denied their request for reimbursement.
The Galbreaths said part of the problem is that Wells Fargo said they failed to report the problem within 60 days, a bank imposed time limit that was threatening to leave them out thousands if it were true.
The couple showed 7NEWS the 126 fraudulent charges occurred within 47 days of when they notified the bank.
Greenville Attorney Rodney Pillsbury said the law is on their side thanks to the Electronic Fund Transfer Act.
'This is one of the few acts still in play that is consumer friendly. It was passed during the Carter administration and it provides a cap on consumers' liability if some fraudster has truly gotten access to their account and transfers funds, then the financial institution is still responsible for that,' Pillsbury said.
But despite the law, the Galbreaths said the denials kept coming.
'So, on the third one, I took each individual charge and started contacting the business and getting disputes letterheads emails saying these were not our charges,' Mrs. Galbreath said.
The couple had almost given up hope, until they reached out to 7NEWS Here to Help, and the bank reopened their investigation.
'It was within 24 hours of you, after 8 months of not hearing anything and they never return calls like we always had to call,' Mrs. Galbreath said.
In a statement, Wells Fargo told 7NEWS:
'We are pleased we could resolve this matter by working directly with our customer. We sincerely apologize for their experience; this does not reflect the customer service we strive to provide. We are dedicated to ensuring our customer interactions reflect our commitment to excellence, as well as the confidence in knowing that safeguarding their assets is our top priority.'
7NEWS business accounts, like the one that the Galbreath owned, may be less likely to get flagged for transactions.
And when the Galbreaths finally got a reimbursement check of more than $15,000, they knew it was time to warn others.
'That's our sole purpose in doing this, besides being eternally grateful to you for your help, but just to make people aware. Definitely check your accounts daily, I would recommend that to anyone, and don't be sure that your money is safe,' Galbreath said.
If you ever have trouble with a bank fraud case, you can contact the SC Department of Consumer Affairs to make sure financial institutions are accountable for following the Electronic Fund Transfer Act.
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