NEW SMYRNA BEACH, Fla. – A New Smyrna Beach couple received a fraud alert message from their bank about suspicious activity on their account.
Despite disputing the charge, $950 was withdrawn from their account.
Austin and Jessica Reaves are still trying to understand how it happened.
“I think the bank should have protected me in that situation, and they didn’t,” Austin Reaves said. “It was clear fraud.”
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Their bank, Wells Fargo, also flagged the charge as suspicious.
The Reaves received a high-priority notification in their account from “fraud detection” asking them to review recent card activity.
At the same time, they got a text message asking, “Do you recognize the declined transaction of $950 to Coinbase on card 3585? Reply Yes or No.”
The Reaves replied “No,” but the bank’s system responded, “invalid command,” and the charge went through anyway.
“I was really confused because I thought, as soon as you say no, they should shut your card off right away. And somehow, some way, it got through.” Austin Reaves said.
According to bank statements, the $950 charge was initially declined but was approved four minutes later.
Before that, there were two smaller unauthorized transactions to Coinbase for $1.25 and $1.57, which the bank refunded immediately.
However, the $950 charge was not refunded.
“I think I should have gotten reimbursed right away for the $950, because I said no,” Austin Reaves told News 6.
The couple filed a claim with Wells Fargo, but it was denied multiple times.
The bank’s reason for denial was, “Based on our investigation, we confirmed that the card used was in your possession when the claim was filed, and the shipping address provided to the merchant matches the address we have on file,” according to a notice the bank sent the couple.
“I think in today’s age, we know that you don’t need the physical card to use somebody’s card. Skimming can be used off of a gas station pump,” Austine Reaves said
“So many data breaches, you know, there’s so many ways that a card could get compromised,” Jessica Reaves said.
The day after the $950 charge, the bank declined a $200 Coinbase charge, and two days later, two $50 Coinbase charges were also declined.
“I don’t feel like my money is protected at all,” Austin Reaves said.
The couple has been trying to get reimbursed for three months.
News 6 contacted Wells Fargo on the couple’s behalf.
It took a couple of phone calls, emails, and a few days, but then a bank spokesperson sent us a statement.
“We appreciate this matter being brought to our attention. After reviewing additional information, we are pleased we could resolve the issue, and the money is back in our customer’s account. At the same time, we apologize for the inconvenience and worry they encountered during the time it took to resolve. It does not reflect the level of service we aim to deliver.”
The Reaves are relieved.
“We appreciate your help. Investigative journalism is really important. We appreciate all your help,” Austin Reaves said.