Complaint Review: Wachovia Bank - Richmond Virginia

Many restaurant's machines are automatically programmed to hold an additional 15% for tips. This is a deal between the owner and their own credit card processing company. The manager may not know this. Whenever you give your debit card to "start a tab" they may swipe the card for a preset amount to make sure there is enough money to pay. Always ask if they are going to swipe the card. It doesn't matter that you told them you would be paying cash. The bartender should have told you he was going to swipe the card. Let's say the bartender swiped your card for $200. The machine automatically held $230. Let's say your tab was $150 that you paid for in cash. That $200 will be held on your account until the real amount hard posts to your account, or the bank will give it 3 days or so to hard post before they take off the hold (as you learned). Due to Wachovia's new policy for overdrafts/NSF based on available balance rather than posted balance, it is definitely conceivable that Wachovia returned the check to the doctor because the AVAILABLE balance was not enough. Sorry Jim, you were incorrect when you stated the money was still in the bank when the doctor's check bounced. It no longer matters what the balance is, it now goes by the available balance. That available balance is the balance of the account minus the amount the pub swiped. The OP could have had enough of a balance to pay the check, but not enough of an available balance (due to the swipe). The complaint of the OP was that Wachovia bounced the check to his doctor because Wachovia used the "swipe" against him. A swipe that will never hard post because the OP paid the bill in cash. A swipe that will be held for the maximum time that Wachovia holds for because they will never get confirmation from the merchant that the amount owed is correct. The post definitely makes sense. For you to accuse the OP of not paying his bill was not nice.

First, I can't believe for a second you believed what the manager told you?! Per the merchant agreement the bar would have with any bank, the bank must ONLY charge you what the merchant says you owe; they can't tack on additional charges anytime they feel like it, otherwise you'd see anything increased by 20-1000%. I mean why stop at 15%, when they could do so much more? If the amount on your charge is somehow 15% more than you thought, that isn't the bank - that was the BAR that did that to you. Amazing you believed that... Second, the rest of your post makes no sense. You indicate the bank put a hold on your funds, but that would mean the money is still in your account when the check to your doctor bounced. What is really speaks to is the fact you did not have sufficient funds in your account for your check, the bar tab, and anything else out there. Moreover - here is another lulu that throws a wrench into your thinking: if the bank were to truly hold your funds, guess who would be bitching to high heaven? Yes, the manager of the bar who told you the biggest lie yet because he hasn't gotten your money for your evening of drinks. Banks only hold money until they get confirmation from the merchant that the amount owed is correct. If you want to talk to a bartender about your problems, that's one thing. But I would place no stock in their financial acumen; it leaves much to be desired. If you want REAL advice, stop using your debit card for anything - that thing will rob you of money - regardless of which bank you're with. Best of luck to you.....

The pub put the hold on your account. Wachovia would never have known the pub even had the debit card unless the staff had swiped it through their terminal. It's not really any different than how a lot of car rental outfits, restaurants and hotels put holds on your card. From reading your report, I don't think you're a bad person or that you intended to float funds. I think that you just didn't realize that the merchant would put a hold on your account and that would impact your available funds. In the future, I suggest that you give restaurants and pubs a credit card as opposed to your debit card. That way you will know that your checks won't bounce.