Wachovia stole money out of my our account leaving a zero balance and only 10 dollars in both of my childrens savings account. When we went to bed on Sunday night my wife and I were sound and finacially stable, when we awoke Monday morning we were flat broke and in disbelief. Over night Wachovia had taken all of the money out of our accounts and opened up a "recovery account" sealing us off from all of our funds.

My wife who was a former employee of Wachovia was calm and called them to see if there was some mistake, this is when they told here about the "recovery account". They said that they had overpaid her and were simply collecting the money from her account directly. This was not the case. They told my wife that they were justified in taking the money and did not have to give any notice before their actions. Upon later reviewing her records we found that not only did they not over pay her but they still owe her a weeks back pay plus money for paid-time-off she sold back befor quitting.

So this is the case. Because of Wachovia's underhanded act we were left with out money to pay for basics our kids need to get through a school week and also money to pay the bills and buy groceries. When told of our situation the representatives on the phone just laughed and said it was no fault of Wachovia's and the money is theirs.

There have been many reports of Wachovia ripping off it's former employees and drafting moneys out of their accounts yet not many people do things about it when it happens. This cannot be right. I for one will not lay down and let one of the largest banks in America (Japanese owned)run over its employees and customers. This has got to stop. The average person loses about 1300 dollars a year from wachovia's bogus charges and withdrawl policies.

James

Douglasville, Georgia
U.S.A.

Click Here to read other Ripoff Reports on Wachovia

10 Updates & Rebuttals

Hawkwheels

Hanford,
California,
U.S.A.

I AGREE WITH YOU AND A SIMILAR THING HAPPEN TO ME

#2UPDATE EX-employee responds

Tue, March 31, 2009

I too am a former wachovia employee in california, I worked for them for almost a year and because they did not want to allow me to go to school i quit. Well three weeks later i get a call that my accounts are frozen and that a customer was claiming i closed her cd's without her knowing even though i asked for id followed all proper proceedures they still are denying me access to my account, but i am not allowing them to bully me i have retained an attorney and i will fight.

Hates Dumb People!!!

Lovely,
Nebraska,
U.S.A.

Japanese?

#3UPDATE Employee

Sun, November 16, 2008

I think theres several things you need to look into...and check your resources. And who said Wachovia was ever associated with Japanese? wow

Numberonebanker205

Birmingham,
Alabama,
U.S.A.

Recovery Accounts

#4UPDATE Employee

Sat, November 01, 2008

Let's be real here. If the leave the company before the pay date, you will owe. The way you get paid is up to the date. Example: A pay period ends on 11/15/2008 and you decide to leave before that. They will dock you the amount owed for not finishing the pay period. If you had any other accounts you owed money for, they will take it out of the checking account you have.

Wb Employee

Salem,
Oregon,
U.S.A.

Wachovia's Practice Is Justified, Fairness aside.

#5UPDATE Employee

Sun, October 19, 2008

All wachovia employees agree to terms and conditioned, and rarely does someone readover there terms and conditions before signing the dotted line. Wachovia has the right to offsett money they paid you if it was paid to you before you earned it. And no one should know better than a former Wachovia employee that the absence of knowledge and awareness doesn't excuse a person from accountability.

Wb Employee

Salem,
Oregon,
U.S.A.

Wachovia's Practice Is Justified, Fairness aside.

#6UPDATE Employee

Sun, October 19, 2008

Naples,
Florida,
U.S.A.

Hmmmm......

#7Consumer Comment

Tue, November 08, 2005

Since you CHOOSE not to provide us with even ONE report about how Wachovia is "Stealing Money" from ex-employees, Maybe you would CHOOSE to provide us with the Major new source that provided you with the amount of $1300.00 that you are saying that Wachovia is stealing from the average customer each year. Was it from CNN, NBC,CBS,FOX,MSNBC? Where? By the way I'm an account holder with Wachovia and I haven't lost any money. How? I keep an accurate balance in my checkbook. And I also recommend you print out the reports, so IF Wachovia removes the reports you will have a hard copy for your records. And don't come back here and try to tell us that the reports have been removed.....Because I don't think that they were even there. I look forward to your response.

James

Douglasville,
Georgia,
U.S.A.

Wachovia suit

#8Author of original report

Wed, November 02, 2005

I and several other ex employees are filing suit after reviewing their cases. Our attorney have suggested that we not release information that may be in anyway link to these cases as Wachovia may try to shut off certain resources or sites reporting about their practices. If you would like more information just go below and click on any link to read about other particular cases.

Naples,
Florida,
U.S.A.

Please help....

#9Consumer Comment

Wed, November 02, 2005

Can you please provide us with the report numbers about Wachovia ripping off other employees. Also, where did you get the amount of $1300.00 that you say Wachovia is ripping of customers out of?

Naples,
Florida,
U.S.A.

Please help....

#10Consumer Comment

Wed, November 02, 2005

Can you please provide us with the report numbers about Wachovia ripping off other employees. Also, where did you get the amount of $1300.00 that you say Wachovia is ripping of customers out of?

Naples,
Florida,
U.S.A.

Please help....

#11Consumer Comment

Wed, November 02, 2005

Can you please provide us with the report numbers about Wachovia ripping off other employees. Also, where did you get the amount of $1300.00 that you say Wachovia is ripping of customers out of?

Reports & Rebuttal