Complaint Review: Wachovia Bank - Charlotte Nationwide

Yes, Wachovia does charge unavailable funds fees. However, wachovia is not the "only" bank to charge these fees. several reports here on ROR state "overdrawn when money still in my account" or words to taht effect. Well, folks that's unavailable funds fees. Any item that posts to your account that leaves less in your account than you need for the total of your checkcard holds. I am sorry to hear that this happened to you. However I have a couple of questions about your post. You said there was "NSF fees from my account, when there was sufficient charges to cover every transaction on my account." If there had been sufficient charges (funds) in your account there should have been no fees. How did the fee post? Did it show as "NSF for #123 $125.65" or did it show as "NSF/OD fees"? If it showed as the first, it indicates that something was presented against your account and there were not enough available funds to pay the item & it was returned unpaid. If this happens the fee is accessed the business day after the item is returned. If it posted the second way, then it indicates that there was at least one item that posted that left less in your account than you needed for your holds. I hope this helps explain what happened.

Yes, Wachovia does charge unavailable funds fees. However, wachovia is not the "only" bank to charge these fees. several reports here on ROR state "overdrawn when money still in my account" or words to taht effect. Well, folks that's unavailable funds fees. Any item that posts to your account that leaves less in your account than you need for the total of your checkcard holds. I am sorry to hear that this happened to you. However I have a couple of questions about your post. You said there was "NSF fees from my account, when there was sufficient charges to cover every transaction on my account." If there had been sufficient charges (funds) in your account there should have been no fees. How did the fee post? Did it show as "NSF for #123 $125.65" or did it show as "NSF/OD fees"? If it showed as the first, it indicates that something was presented against your account and there were not enough available funds to pay the item & it was returned unpaid. If this happens the fee is accessed the business day after the item is returned. If it posted the second way, then it indicates that there was at least one item that posted that left less in your account than you needed for your holds. I hope this helps explain what happened.

Yes, Wachovia does charge unavailable funds fees. However, wachovia is not the "only" bank to charge these fees. several reports here on ROR state "overdrawn when money still in my account" or words to taht effect. Well, folks that's unavailable funds fees. Any item that posts to your account that leaves less in your account than you need for the total of your checkcard holds. I am sorry to hear that this happened to you. However I have a couple of questions about your post. You said there was "NSF fees from my account, when there was sufficient charges to cover every transaction on my account." If there had been sufficient charges (funds) in your account there should have been no fees. How did the fee post? Did it show as "NSF for #123 $125.65" or did it show as "NSF/OD fees"? If it showed as the first, it indicates that something was presented against your account and there were not enough available funds to pay the item & it was returned unpaid. If this happens the fee is accessed the business day after the item is returned. If it posted the second way, then it indicates that there was at least one item that posted that left less in your account than you needed for your holds. I hope this helps explain what happened.

Jessica, I am sorry to hear this happened to you, especially before the holiday. But unfortunately this problem is WEIRD to say the least, as you yourself have discovered. However the title of your OP gets the term exactly right. These are specifically called "Unavailable Funds" fees. So, we now have Overdraft Fees, Insufficient Funds Fees, and now the new fad (by Wachovia only so far), Unavailable Funds Fees. These are kind of hard to explain but what this amounts to is FEES charged to you for transactions that POST to your account, while your AVAILABLE balance is negative. The uproar is these transactions that POST have already been ACCOUNTED for previously and your balance was still POSITIVE after these transactions were made. But then you make another purchase AFTERWARDS leaving your AVAILABLE balance negative. So after that final transaction is made and ON HOLD your AVAILABLE balance is negative. Because this balance is NEGATIVE when the PREVIOUS transactions post to your account, Wachovia charges you the Unavailable Funds Fee, even though your LEDGER (POSTED) balance and your AVAILABLE balance were BOTH positive when the first group of transactions were made, held, and taken away. I know it's confusing but Wachovia is THE ONLY bank I'm aware of so far that does this. My recommendation would be to find a bank that doesn't do this, which shouldn't be too hard to do.