- Report: #471703
Complaint Review: Wachovia Dormancy - Nationwide
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Author Confirmed
Why?
Wachovia Dormancy
wachovia.com Nationwide, U.S.A.
Phone:
800-9224684
Web:
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Wachovia Wachovia Dormancy Inactivity Your Home Town. Nationwide
I opened a personal checking account 3 years ago almost to the day.
I did not want to pay their 5$ check cashing fee.
I withdrew all funds but 1$.
In January they charged the first of three 5$ Dormancy fee's.
Apparently around new years I failed to open and send in a post card to keep my account as "Active Open" this let the 1$ balance checking account slip into Dormancy.
Today I opened a letter from Focus Receivables Management LLC informing me that I owe 54$
When I called Wachovia they informed me that this was my own doing and all I had to do was request the account be closed instead. They also state that "Dormancy fee's" can not be refunded in my state. My only option is to call the debt collector and pay the debt or my credit score will be damaged.
Having no other account then this bogus free personal checking there to cash perhaps 3 checks avoiding 15$ in fee's has now cost me 54$
Long story short: Do not trust the banking industry, they are there to make money.
Don
Boynton Beach, Florida
U.S.A.
I did not want to pay their 5$ check cashing fee.
I withdrew all funds but 1$.
In January they charged the first of three 5$ Dormancy fee's.
Apparently around new years I failed to open and send in a post card to keep my account as "Active Open" this let the 1$ balance checking account slip into Dormancy.
Today I opened a letter from Focus Receivables Management LLC informing me that I owe 54$
When I called Wachovia they informed me that this was my own doing and all I had to do was request the account be closed instead. They also state that "Dormancy fee's" can not be refunded in my state. My only option is to call the debt collector and pay the debt or my credit score will be damaged.
Having no other account then this bogus free personal checking there to cash perhaps 3 checks avoiding 15$ in fee's has now cost me 54$
Long story short: Do not trust the banking industry, they are there to make money.
Don
Boynton Beach, Florida
U.S.A.
2 Updates & Rebuttals
Jim
Anaheim,California,
U.S.A.
You Did This To Yourself
#2Consumer Comment
Tue, July 21, 2009
This is not a bank issue. If you open an account and leave it dormant for a certain number of years, the account becomes dormant and the money is turned over to the State Controller or Treasurer, depending on the state. This is a statuatory function of the state you're in and the banks have no say over it. You should have simply closed the account......not a rip off.
Edgeman
Chico,California,
U.S.A.
Where's the ripoff?
#3Consumer Comment
Tue, July 21, 2009
You let your account go dormant, thus you were charged the fees that you agreed to when you put your signature on the account agreement. If you didn't want to pay the fees, you could have made some kind of transaction to avoid them. I have heard about a customer at one bank that deposits pocket change in order to keep the account active.
