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My account has been charged three times the correct amount for an overdraft thanks to a policy by Wachovia to ensure profits through usury disguised as a consumer protection. In light of the amount of money your company handles daily, I trust you will not find my complaint too petty to resolve. Wachovia has unrepentant stolen $70 from my account thanks to an anomaly in the way your corporation chooses to process payments. Rather than in the order in which they were performed, as with cash or any other bank, Wachovia processes charges to an account in the order of highest to lowest.
The most recent transaction on my account should be an ATM withdrawal of $160. I admit that it was made in advance of a check for $170 that was due to clear. I deserve one single overdraft fee of $35. Wachovia acknowledges the financial struggles of its customers by its policy of covering the cost of the first transaction to overdraw, and by offering Overdraft Protection.
This does not however give you license to triple-dip into my account, or warrant having your CSR Natalie Dunn and her service manager Jenica Hobson -- who informed me there is NO "customer satisfaction" at Wachovia -- lecture me on maintaining my register. It is useless to do so if I cannot count on when your bank decides it is convenient enough to process my charges. Commerce Bank across the street from me is capable of doing the math at any hour of any night of the week.
This is clearly an effort by the bank to ensure its profits through its borderline-low balance customers, simply because you likely find them too stupid to dispute the way you do business. It is regretful that your company is too large or your agents too inept to refund $70 of the $105 overdraft fees charged to my account.
$70 back is all I ask. I am not asking for free money, I am asking your bank to steal just slightly less from me. This will bring me closer to the zero-balance I need to close my account due to complete and total dissatisfaction. And this is a win-win for all involved, since every agent I spoke to seemed all too happy to lose my business. Your agents told me that I have already had "courtesy refunds" in the past, but I find no favor in asking for money back that should never have been taken.
I have already removed my bi-weekly payroll from direct deposit into your bank. If you can do nothing to refund $70 of the $105 USURY leveled against me, I will close my account, and you will have one less unsuspecting low-income individual to arbitrarily derive your black ink from. I will have my grandmother, brother, and sister do the same, and I will tell everyone I know of the terrible experience I had in getting a multi-million dollar corporation to refund the less-than $100 it unethically took from me.
If my trust in financial institutions isn't totally shattered by then, I plan to open an account with a small enough community bank that DOES offer "customer satisfaction;" that CAN recognize where its strange policies cause problems for the customer, and that CAN correct them when they do.
People beware!
I had over 1000 dollars in my account when a merchant accidentally entered wrong information for the charge, the merchant immediately refunded the amount back to my account, well I called to report the accidental charge by the merchant the same day, knowing of Wachovia's stand on issuing overdraft funds for smaller items first,which is wrong to begin with, correct accounting processes should be that all items posted should be paid first to last in transaction date and time of transaction, but regardless, I contacted them immediately when I got home and discovered that the REFUND was not posting but the CHARGE was, it concerned me because all of it was completed by the merchant at the same exact time! I was told that they would hold the amount until the refund showed, well low and behold they charged my account $245.00 in overdraft fees for the previous 7 transactions, their reason, it would have overdrafted anyway due to the incorrectly charged transaction, my argument with them is that it was incorrect and the refund would have given me more then ample amount of funding to cover the previous 7 transactions, not to mention that an (above and beyond my full balance transfer of money should have been credited the same day, but like the refund was not.
I even had the confirmation of the money transfer and completion from my brokerage account in hand! Wachovia said they hadn't seen any wire come through their business and again it was the merchant who is responsible for the credits. My question, what exactly if ever, is Wachovia accountable for? I would love to be included in any class action lawsuit against Wachovia at this time for improper accounting practices! Sign me up. I want my account refunded the improper overdraft funds they took out and any other damages that occur from this ongoing issue.
I too have been stolen from with Wachovia's horrible overdraft policy. I am living paycheck to paycheck and occasionally do spend to much. On Monday this week I checked my account and had $117.87 left with pending charges of $42.22 and $18.23 bringing my available balance to $57.42. At that time I decided to pay $40 toward my cell phone bill, this brought my available balance to $17.42. The following morning I found my cell phone to be off and because I was leading a work related youth group trip and did not have access to another phone, I decided it best to pay the remaining $43.71 causing me to overdraft for a total of $26.29. I expected to have one $35 charge and was more than happy to pay that.
Instead I was charge $70 on Tuesday evening and another $35 both Wednesday and Thursday nights. When I called they said they take the money out of your account when it is authorized not when it posts. Since the account was negative when the $42.22 and $18.23 was posted (even though these transactions had already been deducted from my balance) the charged overdraft/unavailable funds fees. This of course caused the $40 charge to be negative and the $43.71 resulting in charges of $140 to my account.
How is it that a bank can charge fees on payments that they authorized and deducted the amount from your account? I wish I could just deposit $61.29 into this account and risk Wachovia coming after me, but my direct deposit has already been sent from my company and I can't get a paper check.
Wachovia's customer service just responds this is our policy, you need to understand it and don't rely on our web-site for balances... Even with a registry I would have done the same thing and expected to be charged once. How is the consumer supposed to know when payments are posted? If there is a class action suit against Wachovia I would like to be a part of it. If there are any experts in bank law please let me know if this policy is legal.
This same thing happened to me as well. I went on a trip and had around $900 in my account. I charged about $ 700 and had $200 put on hold as a deposit on a rental. I was charged over $600 dollars in NSF charges the manager took off $70 in nsf fees and told me I'm responsible for all of the charges. What they do is they put some charges on hold then charge the other items to account, when this caused the account to go negative they then put thru the charges that we're on hold (from highest to lowest) thus causing more nsf fees on funds that we're previously put aside for these charges. This can only be perceived as a blatant disregard for their customers in what should be an illegal practice. If ever there is a class action please count me in. I'll get my bank statements and the lawyers can do the math. I already tell everyone I know not to do business with them and so should you.
I have had nothing but problems with Wachovia and I beg everyone thinking of banking with them to run the other way unless you have money to just throw away. I closed my account almost two months ago and took my business to another bank. My orginal reasons where I did not think they were honest in handling of my account for simular reasons that are being brought up here. As stated, my account was closed with them CLOSED-and they continue to send me letters of being in the negative and they are charging my account all find of fees for charges that were incurred AFTER I had the account closed and I mean months later. These charges are not possible, I have no ATM card or checks with them. Its just another way to harrase me and to take every penny they can. They like to harrase people. WHen in fact, they owe me money. I have contacted the Better Business Bureru and I will shortly be contacting the Attorney Generals Office in hopes they can assist me.
I made three purchases on Sept 30,2007. I had 1200.00 in my account at the time of the purchases. These purchases conviently did not go through until 10-2. On the same day my house payment cleared. I was charged $105 for these transaction when I had the money in my account at the time that I made the purchases. Since the payment cleared for my house payment on the same day that the other 3 purchases cleared they took out the house payment first instead of the other 3 purchases that I made first when I actually had money in my account for these. Back in August I had 7 overdraft fees when my account did not go negative until a payment cleared on 8-28. I called about this and I was told that it wasn't when the payment cleared but it was when it was authorized. I have been told two different ways that they deduct payments. Wachovia seems to change there policy on how they deduct payments when there is a way to screw you out of your hard earned money. I am going to contact the BBB as well. Wachovia is equally as bad as a con artist.
All of us need to come together and filed a lawsuit against Wachovia Bank and run them out of business. I had problems too just recently. My account was positive on Sept 30, but on Oct 1 it has overdrawn with fees over $400.00. I email and called all week and no response until Oct 5. They use this poor excuse. We are very sorry about the inconvenient this may have cause. Yea right. Right now I am so mad I can scream. Whenever a suit arise, I am all for it. I ask them for a breakdown. They going to send it in writing in an email. A breakdown is a register from the bank that has all your account breakdown with the date, time, payor/payee information, and etc. You should be able to get whatever you want from your bank, because we are trusting them with our money. I think all Americans should go back to getting a paper check and cash it; then pay for your bills at the store or get a money order and send it by mail. This way you will know how much the fees will be before you cash your check or pay the bills. Anyone who is banking at Wachovia needs to close their account and stop all automatic ACH withdrawals and deposits. Please let get the word out and put up a fight against this bank so they can close their doors or restructure their financial institution.
I noticed that my rent check had been returned despite the fact that my direct deposit had been in the account days before the check hit and the balance was more than my check. They did, however, clear another check, for $35, still leaving enough in my account for the larger check.
I printed my statement and went into the branch to get an explanation. I was told that my account was negative when the check hit. I asked them to show me on the screen where that was, because my direct deposit clearly was in the account before
the check hit, followed by a $43 additional deposit I made at the teller window, which I was given a slip with my balance that showed my direct deposit in the bank already. They could not show me a number that was negative on the day that the check hit, nor the day before the check hit. Yet they insisted that the eighteen hundred dollars in the account that their system showed in my printout and on their screen was not real. They could not give me any really explanation and the woman
who I spoke to insisted that she was the manager, although I have serious doubts about it due to her lack of ability to communicate properly. Finally I just closed my account.
Damage Resulting = Now I am out $35 in bank charges for that and $125 in charges from my landlord. I also have lost check writing privileges to my landlord because of this.
You people make me sick.. If you all just kept an accurate check book register, you would not be getting any NSF and overdraft fees in the first place... STOP SPENDING MONEY THAT YOU DO NOT HAVE TO SPEND;IT'S THAT EASY! Quit placing the blame on your bank for your poor bookeeping and overspending...you all know I am right! When you use your checkcard, write it down in your cute little checkbook register, and grab your cute little calculator, and subtract your purchase from your previous balance, and write down your new balance... that is what you have left to spend! Oh, and how's this for a great idea, folks... try balancing your checkbook every month when your bank mails you your statement! Grow up and take some responsibility people.
Hi Responsible Adult,
Since you are so responsible and believe that the banks do no wrong, then can you explain the poor and rude customer service? Is that due to "poor bookkeeping" as well? How about the fact that I do budget my checkbook and write everything done in my "cute little checkbook register" that Wachovia CHARGED me for and when a MERCHANT overcharged ME, not ME miscalculating, the bank STILL charged ME overdraft fees. How is that MY MISTAKE? Also, not everybody has extra money to leave hanging around in their bank just in case a MERCHANT messes up...have you checked out our economy status lately? So instead of ASSUMING that WE are not responsible people, get your facts straight!
I have a comment on this whole thing, and I'm so mad I can hardly write. I have to come back later when I can make sure I don't curse up a storm. All I have to say is that I am DONE with wachovia. been with them for over 15 years, since back when they were First Union (didn't know that, huh? ;^) ). Exorbitant fees, improper registering of deposits/withdrawals and a general lack of common sense. And no, this is not about overdrafts, this is about them skewing the numbers, MAKING the account go overdraft which CAUSES the overdraft fees.
My situation still isn't straightened out, and once it is I'll post. Forget Wachovia and find something different, really--- this is from someone who's let things slide with these folks for too long. I'm fed up.
You can read more about Wachovia Bank and other banks too at http://www.thebanksucks.com/category/wachovia-bank-sucks/
If anyone out there needs help go to this link for help, http://www.attorneyannmiller.com/contact_us.htm, there is a class action suit going on, in fact many class action suits are on the way or out there already.
We also have fallen prey and have been a victom of Wachovia Banks corruption.
You can find out all the info on Wachovia bank by going to another web site out there called,
Wachoviabank-sucks.com. This is not just locally or nationwide it is world wide in at least two other countrys. Wachovia settled in a lawsuit of 124 million for drug money laundering in a foreign latin country. Wachovia also took lots of money from the elderly and the helpless like beneficiary's to trust accouns that were handycapped. I guess Wachovia bank didn' think that these so called "helpless" individuals wouldn't fight back but Wachovia was wrong and they did fight back and we too are fighting back with wisdom and counsil and the mighty pen of email and internet public informtion. Also we are contacting multiple news tycoons to put the storys out there to help the pubic get the help they need.
sallylovesjc@yahoo.com
email me if you have any more storys or if you have been a victom of Wachovia bank.
I am volunteering to further investigate to help the public, family members as well as my self so we can stop this abuse!
just like all of you, i had a very bad experience with wachovia. i had pulled a supervisor aside and told her that my husband and i were splitting up and i needed to open a new account so that my money was safe. she assured me that she would do everything that she could to make this happen. i spent about an hour with her opening a new acct., changing my pin number, closing out my old savings acct. and old checking acct. and even asking her at least a dozen times to make sure that there was NOT over draft protection on the new acct. she told me over and over again there was no over draft protection and there was NO way that he could touch the money. unfortunately she did not tell me that they supervisors and teller at wachovia were not qualified to do their jobs because he walked into a bank down the street, told the teller he wanted over 3K from his acct. the teller saw that he did not have the money so she went into my acct. and took the money. every debt purchase he made on his acct. came out of my acct. the supervisor to cover her tracks, said that there must have been over draft protection hiding somewhere in the system that she could not see. so now i am being sued by wachovia for the acct. going into the negative. this should have never happened. the teller should have never given him the money at the bank and the supervisor should have told the truth when asked if she set up overdraft protection on my acct. if anyone has had any luck getting through to this so called bank or has found a company willing to take these liars on, please e-mail me at k_tydlaska@yahoo.com. i am looking for any advice to take care of what actually happened because the truth needs to come out that wachovia is full of incompetent people.
Wachovia also stole from me! I deposited my payckeck, which usually clears in 2 days. It has always been the case for over a year. This time Wachovia recieved its money 2 days later from my company as usual. (I have the proof on my employer's bank record that Wachovia had the money.) They decided to hold on to my money for some unexplainable reason for 5 additional days. As a result My bills and rent check bounced and Wachovia charged me overdraft fees. Hmmm...lets see, they physicaly got their money to cover my paycheck deposit from my employer's bank...but did not put MY MONEY in my account for 5 days prior...then they charge me fees. They also have told me there is nothing I can do about it though I have the proof that they had the money and the check had cleared.. Blantant Theft, Never go to Wachovia.
First I tried to contact Wachovia to try and repay my bills 2 months ago. I didn't have the zip code that matched their records so I was repeatedly put on hold and never spoke to anyone. They had a bizarre address that I have never lived in so I hadn't received any bills in over a year from their company. Then I get a call on 2/20/2010 after 2 months of trying to contact them saying that I'm late in repayment and charging me a $6.00 late fee (its the principal). Its their fault that it was late. Also they've been sending my private information to someone else at an unknown (to me) address. Also now that I'm trying to log in and pay my bill I'm getting a notice on the website saying that the service I requested is unavailable.
I would love to be part of a class action against Wachovia/Wells Fargo.
They blatantly stole money through overdraft fees by the way they posted checks I wrote. When I called, I was on line for many minutes and would be cut off several times and have to go back through the same routine. They were rude and callous in their dealings with a smirky attitude which defies all the rules of service.
Their theft came at a very bad time in my life, being unemployed with a medical emergency. It cost me several hundred dollars of which, months later I have not gotten over.
At 69 years old and a professional business man, living off a small budget { 13 years as a former banker}, their tactics are nothing short of stealing and white collar crime which should be brought to trial and pay back.
How do I feel about bailing out their bank who stole from me SCREW THEM!