Wachovia The Right to Offset more like the right to Rip off! Manassas Virginia
I have had numerous difficulties with Wachovia Bank. To begin with, they will change the way charge card purchases come through from when they actually where made (They always take out largest to smallest, making more fees occur).
This is only a minor difficulty compared to what I am going through now. About a month ago I had some serious family issuses that cause my account to be negative by about $1,000. I went to my local branch and discussed the issue and set up a payment plan. The bank manager informed me that I have 60 days from when my account was last positive (June 13, 2007) to pay back all of the funds and if I didn't my account would be frozen and when I brought my account back to zero I would have to pay a $45.00 fee to re-open my account. He was also kind enough to give me $280.00 in fees back.
On June 28th, 2007 someone from the Recovery Department talked to my husband about how my account would be paid back. My husband informed him of the deal we had made with our local brach and he said "Ok I see that in our system." As promised I deposited $200.00 towards my negative account on July 11th and I thought we were on our way to alieviating the problem.
Then on July 13th my husband's account (We have seperate accounts, but my name is on his account) was magically missing almost $800, we looked and discovered that without warning, Wachovia pulled out the money out of my husband's account.
All the Drones at Wachovia could say was it was "The right to offset" without giving a logical explanation. So now my account is at a zero balance and all of his payments that were automatically debited out of his account will now cause fees and a negative balance for him as well! Robbing Peter to pay Paul, doesn't really make much sense only cents for Wachovia!
Julie
Manassas, Virginia
U.S.A.
4 Updates & Rebuttals
Mike
River Edge,New Jersey,
U.S.A.
Can I ask a stupid question?
#5Consumer Comment
Tue, August 07, 2007
If your husbands account had so much money in it, why didn't you use that money instead of basically committing fraud by knowingly overdrawing your account?
Dave
Jacksonville,Florida,
U.S.A.
The previous poster is absolutely correct
#5Consumer Comment
Tue, August 07, 2007
First of all, I hate Wachovia and closed my accounts with over a year ago because of their underhanded tactics, however, in this case, they were correct in taking your husband's money. It does clearly state that they can use whatever accounts necessary that are in your name to fund another account should that account become negative. In this case, it was probably the left hand not knowing what the right hand was doing.
All banks will do this. It's pretty much the only way they can recoup money owed to them.
Bookkeeper31411
Savannah,Georgia,
U.S.A.
Wachovia Professional responders
#5Consumer Comment
Mon, August 06, 2007
I agree with you. You make agreements with Wachovia to resolve the situation in a very professional manner and Wachovia blind sides you. And to add insult Wachovia has professional responders post negative responses to our complaints.
Only when Congress gets out of the lobbyist's pockets will this abuse stop. Beware of the professinal responders they are only there to discredit the consumers who are tired of being ripped off.
Duane
Monroe,North Carolina,
U.S.A.
Seems like...
#5Consumer Comment
Sat, July 14, 2007
....you were the one robbing Peter to pay Paul - not Wachovia.
Wachovia has every right to do exactly what they have done. You cannot reasonably expect that it is OK to drive account 'A' into a huge negative, alll the while keeping your money in account 'B'. Read your account agreement that you signed when you opened up the accounts, it will have information on what Wachovia can do.
You got off pretty easy if they gave you back $280.00 in fees.