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Wachovia Bank Multiple overdraft fees on one overdraft Severna Park Maryland
I've been a customer of Wachovia Bank for a little over a year now, and I rarely have over five or six hundred dollars in my account at any one time, so I have accepted that the bank really doesn't care about my business.
On several occasions I have lost track of my account balance by a few dollars and have received over a hundred dollars in fees because of one overdraft. This last time, I had roughly a hundred dollars in my account, made a couple thirty dollar purchases and then several small ones (you know, coffee, cigarettes, ten bucks for gas).
Monday morning, I checked the online balance and it said thirty dollars, made two purchases totaling twenty dollars, and came home to find that i had incurred 105 dollars in overdrafts that day. In fact, I had bounced by a little over a dollar, but ALL PENDING transactions were charged overdrafts.
Honestly, and maybe i'm just an idiot here, if only one transaction went negative, wouldn't you assume that I would be charged ONE overdraft? I ended up with yet another overdraft the next day when one of the check card holds went through(even though it had already been added in to make my account negative).
I can see the logic in making the penalties severe to prevent abuse, but isn't the 35 dollars to cover a few dollars enough? why do they need to overdraft things that NEVER OVERDRAFTED??!! It's a slightly different problem from the one you are discussing, but I think that if you're going to talk about legality of fees, these ones are more likely to arouse SOME kind of response from the people who regulate banks.