Wells Fargo Customer Sues Bank After Losing Thousands in Check Fraud

A Philadelphia man, John William Pollard, is taking legal action against Wells Fargo after the bank refused to reimburse him for tens of thousands of dollars stolen in a single fraudulent transaction.

According to Time Magazine, Pollard originally wrote a check for $84.53 to pay his Verizon phone bill. However, the check was stolen in the mail, altered to $45,678.12, and cashed by someone named Olivia Wallace. Unbeknownst to Pollard and his wife, a large deposit had been recently made into their Wells Fargo checking account, leaving them unaware of the theft.

It wasn’t until Verizon reminded them of their unpaid phone bill that the Pollards discovered they had fallen victim to check fraud. Despite reporting the incident to Wells Fargo in early 2022, they have not received any reimbursement.

In a lawsuit filed in the U.S. District Court of Pennsylvania, the Pollards claim that Wells Fargo initially assured them they would be refunded. They argue that the bank should have flagged the suspicious transaction, as they had never written a check for such a large amount before.

However, in August 2023, a Wells Fargo lawyer contended that the Pollards had failed to report the fraud within 30 days of the incident, and therefore, the bank was not liable to reimburse them. This policy is in line with Wells Fargo’s terms and conditions, which require customers to report fraudulent transactions within 30 days.

In response to the lawsuit, Wells Fargo stated to Time Magazine that they advise all customers to file timely claims for any suspected fraudulent transactions on their accounts.

Despite the ongoing dispute, Patrice, John William’s wife, stated that they are still keeping their money, including their retirement funds, at Wells Fargo. However, she mentioned that this may change once the case is resolved, and some friends have suggested they consider using a credit union instead.

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