Wachovia Bank Retroactive overdraft fees Raleigh North Carolina

You chose to not tell us what grevious sins Wachovia Bank had committed against you, so we must focus on your very childish plan of retribution. Bottom line- don't waste your time.

Banks with subprime loan losses are looking for revenue enhancements. So the mature solution is that you patronize a bank that was never involved in the subprime loan losses mess. Credit unions are often an excellent choice.

Move on with your life.

Friendly says it all. This IS a childish way to address your grievance. Moreover, the first time you try these transactions they will view it, close your account, send you a check for your $1.01, then report you to Chexsystems as being closed for abusing the account. You won't win this one.

I'm sure Wachovia will be absolutely devastated by your little "scheme".

Get over yourself. You obviously don't manage your finances properly. Therefore, you get charged for it. Maybe you should cash all of your checks at Wal Mart and put your cash in your mattress or something.

First off, thank you three for the "constructive" (dripping with sarcasm) advice.

Secondly, I'd like to detail my situation as it occurred.

My wife and I had 2 checking accounts with Wachovia. The first being our household account, from which we paid our utilities, mortgage, cars, etc. from. The second being our spending cash account. This was for our fun money, online purchases, etc. which we would generally keep below $500. This was done for a specific reason. A few years back we made some purchases online and shortly afterward had our identity stolen in the amount of $2500, and $1500. In time we recouped those losses but needless to say it was quite time consuming and inconvenient. Shortly before moving to our current location my wife's father passed and left us a substantial inheritance and we swore to never put that money at risk as it affords us a comfortable lifestyle and will more than cover college for our 2 children. Now, our "fun" account balance had fallen below $50 because recently I had quit working to stay home with the kids, but while I was working we had set up an automatic transfer to savings on each pay period. Long story short, even though there was less than $50 in the account, the transfer still took place, I was charged an overdraft fee for the transfer, and then subsequently charged over draft fees retroactively for the purchases made the previous day which took the account below the $50. I immediately contacted the customer service line to try to get an explanation as to why a computer could not perform remedial math and not see that there was not $50 available to transfer and also why I was charged fees for purchases made prior to this occurrence. What I got was the flimsiest excuse about how the transfer would cancel itself (which it did not) and that even though my account was showing overdraft I could still make purchases (which I could not) because Wachovia did not want to "inconvenience" me. In the end I wound up with $140 in over draft fees plus the $50 which amazingly enough was transferred to savings despite there not being $50 in the account to begin with. After all of this I contacted customer service again to get the issue straightened out and was told that the overdraft fees would not be refunded, sorry about your luck.

At this point I investigated Wachovia here and found that I was not the only person to experience this style of treatment so I proceeded to follow through with my method. In addition, I printed off many of the 489 Ripoff Reports that I had found here concerning Wachovia's practices and proceeded to post them in the direct vicinity of the branch that I had been dealing with, which happens to be in a moderately busy commercial area. After the second time I visited to make my 1 cent deposit I was contacted personally by a representative of the branch to discuss my displeasure. Upon leaving the branch I had all of the overdraft fees refunded back to the account, the original $50 transferred back and was provided an additional $50 in the account for my troubles.

Since this time, my wife and I have removed all monies from all accounts, checking and savings, cashed out all matured investments and now do business with a more reputable financial establishment which, after explaining to them our dealings with wachovia, took the time to sit down with us and explain all policies, and procedures in detail, relevant to our particular banking needs.

In summary, because wachovia was so tightfisted over less than $200 they have lost business in the mid six figures.

Ultimately, the lesson here is:

1. Research your financial institution vigorously if you have a substantial amount of money involved.

2. When you hit someone in the wallet you get better results than just standing idly by or begging for understanding.

Last but not least to Abigail, the wachovia employee in Michigan,

It is your exact type of condescending, degrading attitude, which seems to be typical among most wachovia employees, that will end up causing their downfall someday. I've seen larger, and wealthier institutions than yours collapse. I'll be sure to email the screen print of your response to Wachovia corporate as I'm sure they would be interested in how its employees represent them. I'm confident there aren't too many employees named Abigail that work for Wachovia in a town with a population less than 3000.

Good luck......

excerpt from "Time" article:

"and Wachovia was sold in a deal that protected both depositors and owners of the company's bonds but left shareholders with very little"

I can do nothing but laugh in glee at this.