Paul Santos
New Haven,#2Consumer Comment
Fri, September 12, 2008
Former Wachovia Customer: I'm not an employee but I have worked at several large banks over my life-time AND have come across customers like you regularly. My 18 yrs bank experience makes me qualified to post a comment in response to your banking situation. (invariably they are almost all the same scenario's) Firstly, You obviously were charged $ 1,000.00 or more in OVERDRAFT fee's because (clearly) you do not have sufficient funds in your account. If you had any money or a positive balance in your account, the bank wouldn't single you or your business out and bounce your checks for the FUN OF it. Secondly, you never mentioned the line of work you're in. What kind of business (in this day and age) do you run that does NOT have a "line of credit or overdraft protection" linked to it? Most successful businesses have safety nets in place. Without a well executed financial plan, It makes me wonder if your business is still open? Thirdly, many banks determine a "Risk Value" with all accounts. If you have poor credit and a history of overdrafts, your risk value goes up exponentially. I'd imagine your credit is weaker than most and your business has limited or no credit history on Dun and Bradstreet. The bank did not even want to take your deposit, that speaks volumes of your situation. On behalf of all the Bank of America, Citizen's and Webster Bankers in MA and CT........we know this kind of client and we wish her well doing business at some other bank, not ours.
Striderq
Columbia,#3UPDATE Employee
Sun, October 21, 2007
Cathy, I am really sorry to hear that you have been treated this way. Yes, I do work for Wachovia but I would like to offer a suggestion that may help in your situation. I work with personal accounts, but I think you would have these options on business accounts as well. First, make sure your account is still open. Now for the automatic payments. It depends on how these were authorized. if this is something you set up through online billpay, go back to billpay and delete the payments. If these are showing as automatic debits, that means the companies are using your routing number & account number. You can place a stop payment on the company ID number. It will cost $31 per stop for six months, but it will keep the companies from being able to take any more debits from your account. Again this price is for a personal account, it may be different for a business account. If the payments are showing as a checkcard purchase, close your checkcard and get a completely different number issued to you. Then contact the dispute department in Wachovia to help you dispute the payments taken since you cancelled with the companies. there are time frames involved with the typw of transaction going through, so please do this as soon as possible. Again, I am sorry to hear of your trouble. I would ask you not judge the entire company by the actions of one or two people. Most of all I would like to wish you the best of luck with your business.