- Report: #271424
Complaint Review: Wachovia Bank NA - Greensboro North Carolina
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Wachovia Bank NA
wachovia.com Greensboro, 27410 North Carolina, U.S.A.
Phone:
1-800-922-4684
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Wachovia Banking Wachovia Bank, NA fradulent overdraft policy, ensuring maximum amount of overdraft fees can be deducted by holding items until you overdraft Ripoff Greensboro North Carolina
"We're totally obsessed with ripping you off" I feel that should be the tag line for Wachovia. My friends call the company "Walk All Over Ya" and I am starting to have the same opinion. It seems that any time I have ever overdrafted other charges that should have gone thru are held until instead of having 1 item overdraft you have many, many more increasing their profits while robbing you of your money. I even have called to discuss my concerns and feelings that this was a fradulent practice that is especially damaging to those of us who don't have extra resources or live paycheck to paycheck. I was informed by a supervisor that I needed to learn to manage my money better and that basically there was nothing she could or would should I say do to rectify the situation. This was after I called three days in advance to request a stop payment on an electronic transfer and once again was told I could not be helped. I asked her what the point of putting you money in bank was if you had no control over the funds you put in. She replied "you are totally in control mam". In conclusion I find Wachovia to be not "totally obsessed" with pleasing their customers but rather totally obsessed with making as much money off the unfortunate circumstances of the less fortunate. Can anything be done about this? I remain optomistic that one day the power will belong to the majority of the working class poor and lower middle class instead of the money hungry heartless corporations!
Pdoffconsumer
Greensboro, North Carolina
U.S.A.
Pdoffconsumer
Greensboro, North Carolina
U.S.A.
4 Updates & Rebuttals
Edgeman
Chico,California,
U.S.A.
Stop choosing to give the banks O/D fees!
#2Consumer Comment
Sun, June 15, 2008
With gas and food costs rising, I'm sure that money could be put to better use than giving it to the banks as fees. The best way to do that is not to overspend your account. Not by a dollar or even a penny. If you have to write your balance on a scrap of paper in your wallet, do it.
Nancy
Steilacoom,Washington,
U.S.A.
proper money management
#3Consumer Suggestion
Sun, June 15, 2008
So Why did you spend $6.00 when you only had $5.00. If you have trouble with the math, why not take out about $20.00 on CASH, then when you want to make all those pesky little purchases, you can just pay cash and avoid the whole thing. Another thing that most of you all who apparentlya re addicted to your debit cards, the bank can, and usually does, charge you a fee for using your pin number. I always use mine as a credit when I can so I do not have to use my pin number.
Usmc0231
Greensboro,North Carolina,
U.S.A.
Wachovia does have fraudulent policies
#4Consumer Comment
Sat, June 14, 2008
The respondent to this posting obviously has not been victimized by Wachovia. Let's say you have $25 in your account. You go out one day and make transactions on your check card in the amounts of $5, $10, and another for $5. Your balance should now be $5, and those transactions are on hold. The next day you go out and spend $6, only $1 more than you have in the account. You are immediately hit with a $35 overdraft fee making your balance -$36. Then when all 3 of the other transactions come off hold, you will be hit with 3 more $35 fees, even though the money was held out and was available when you made the purchase. So now you have spent only $1 more than you had, but your balance is now -$141 due to the $140 in overdraft fees. In addition, when that last purchase comes off hold, you be charged ANOTHER OD fee. Now your balance is -$176, $175 of which is O/D fees.The purpose of a HOLD is to ensure the money is there when it is paid. They hold money out, then charge an O/D fee when it comes off of hold even if you had money there to pay for that transaction. They just assume us consumers are too stupid to realize what they are doing.
Robert
Wallingford,Connecticut,
U.S.A.
If the funds are available to draw against...
#5Consumer Comment
Fri, August 31, 2007
it makes no difference if they hold the transaction for days, months or years. You are spending money that has already been spent, therefore overdrawing your account. There is nothing fraudulent about their NSF policies. They are certainly not for the customers advantage but still not fraudulent. They are spelled out in your account terms and conditions. Give it a read sometime. Don't wait for the movie to come out. You may be surprised what else the bank can do.
