Wachovia Bank NSF fees; real-time transactions Mays Landing New Jersey

As others have written, this is really about ALL banks , I suppose. One Saturday I used my debit card for several small purchases. I had the funds to cover these purchases, and late that night the combined amounts of those purchases were evident from the balance.

On the following Monday, my mortgage company sent through an electronic debit that they were not supposed to. Instead of the mortgage payment overdrafting the account, they retroactively placed the Saturday transactions in front of the Monday transactions, causing $420 in overdraft charges, and I didn't have money to deposit to pay these charges, as we only had slightly more than the combined amount of these debits. what should have been a 35 dollar nsf fee became a $420 nsf fee. If this is legal, it should not be.

There is a video called "maxed out", in which the fact that credit card companies and banks have become dependent on these and late and overcredit-limit fees for their profits. I am not an "eat the rich" type, but it is in fact the poor and the poor-money-manager types that they prey upon. The well-to-do might not have even noticed such a problem. Am I the only one to whom this smells rancid?

Joelb
mays landing, New Jersey
U.S.A.