• Report: #501097

Complaint Review: Bank Of America, Citibank, JPMorgan, Wachovia

  • Submitted: Sun, September 27, 2009
  • Updated: Sun, May 27, 2012

  • Reported By: Brandr — Egg Harbor New Jersey USA
Bank Of America, Citibank, JPMorgan, Wachovia
Philadelphia Ave Egg Harbor, New Jersey United States of America
  • Phone: 800-922-46
  • Web:
  • Category: Banks

Bank Of America, Citibank, JPMorgan, Wachovia All The Big Banks: Wachovia dictates use of savings Egg Harbor, New Jersey

*Consumer Comment: Brandr,

*Consumer Comment: PROTESTER SONG 102......... just type in 879510 at this site....

*Consumer Comment: 'GOOGLE' THIS SONG

*Consumer Comment: 'GOOGLE' this. "KARL" is running out of ammo..

*Consumer Comment: DISH POEM...

*Consumer Comment: Brandr, Did you know that Wachovia Corporation is part of the Federal Reserve......

*Consumer Comment: Brandr..it is already being "addresssed"...

*Consumer Comment: Brandr...

*Consumer Comment: The bank was right...

*Consumer Suggestion: Savings account

*Consumer Comment: Brandr, It's good to let off some 'steam' and spread the word all over the....

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About a year after opening a chequing account with Wachovia, I opened a savings account and deposited 15,000. In 2 Months I made 10 dollars in interest. Since I had an account with another bank which payed noticeably higher interest, I decided I was going to close my wachovia savings account. I began transferrring money from my savings account to my chequing account in 1000 dollar increments online. Each time I did this, I was shown a message informing me that if I continued transferring funds out of my savings account the bank was obligated to report this to the government and that if these transfers continued, the government would compel them to close my savings account and transfer my savings into a non-interest bearing chequing account.

 I thought this sounded preposterous and was incensed that the bank was telling me what I could and couldn't do with my own money ( this wasn't a CD account just an ordinary savings account), but since I was going to close the account anyway, I really wasn't bothered by their bullying scaremonger tactics. Recently, I inadvertantly withdrew 40 dollars from my savings at the ATM. I meant to withdraw from my chequing account. I was charged a 45 dollar excessive withdrawal fee! After having 100s of dollars stolen in ISF fees, this was the straw which broke the camel's back. I once had someone deposit two cheques concurrently. A supposedly lost cheque, and the replacement I had given them. I had enough money to cover one of these 325 dollar cheques, but the bank bounced then both and assessed a ridiculous ISF fee. The usurious, predatory fee schedule this bank uses to steal it's customers' money really makes me wonder how they manage to keep any.

I am closing my accounts with Wachovia and expecting to be hit hard for my outrageous consumer proactivity. Hopefully my true story will cost them a few customers and at least compensate me with a small moral victory. I am waiting for the Obama administration to address the fact that banks make 60% of their profits in predatory fees. I fear I wait in vain.

This report was posted on Ripoff Report on 09/27/2009 07:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/Bank-Of-America-Citibank-JPMorgan-Wachovia/Egg-Harbor-New-Jersey-08215/Bank-Of-America-Citibank-JPMorgan-Wachovia-All-The-Big-Banks-Wachovia-dictates-use-of-501097. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 Consumer Comment

Brandr,

AUTHOR: Karl - ()

I'll bet that there are a lot of people in Cyprus who wish that they would taken all of their money out of the banks and buried it somewhere, wouldn't you agree?

You can 'Google' this- CYPRUS DEPOSITORS OVER 100.000 EUROS COULD LOSE 60% OF THEIR SAVINGS, and read the related articles that recently became available ob the web.

P.S. Feel free to give us an update to your Ripoff Report when you get a chance.
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#2 Consumer Comment

PROTESTER SONG 102......... just type in 879510 at this site....

AUTHOR: Karl - (USA)

to see if it is available in the consumer comments section at Ripoff Report #879510.

Thank You

***FRAUD ALERT: Make sure to type in 837982 at this site and read Sheryl's Ripoff Report for important information and spread it all over the web at sites like Twitter and Facebook!

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#3 Consumer Comment

'GOOGLE' THIS SONG

AUTHOR: Karl - (USA)

'GOOGLE' THIS
(Please sing to the tune of "Yesterday")

Anyone can 'Google' this- FREE MIDI THE BEATLES MIDI FILES, and click on 'Yesterday' and sing the following lyrics to that midi tune, right?

Here we go- 1, 2, 3, 4....

'Google' this
If you want to learn just 'Google' this
Tell your Mom and Dad and text your Sis
Get on the web and 'Google' this.

Bankers lied
Squidman's stinky now he's getting fried
Stock is lower he is horrified
Send squidman out with next low tide.

System is diseased
Banks are sick, just heard one sneeze
Wall Street is a crock
Be prepared for one more shock.

'Google' this
Worldwide web can bring you so much bliss
Contact Charlie, Pam, and please tell Chris
Get on the web and 'Google' this.

Government's a sham
Put the blame on Uncle Sam
Politicians lie
Now the people Occupy.

'Google' this
You will learn that Wall Street was remiss
Lots of people mad and others pissed
Get on the web and 'Google' this
MMMM 'Google' this.

End.

Anyone can 'Google' this- FRONTLINE: MONEY, POWER AND WALL STREET, and watch it on the web in order to learn that much of the banking system in the USA is built on a foundation of lies, deception, fraud, greed, trickery, manipulation, deep corruption, and the constant pursuit to financially injure the innocent people living in America and all over the world.

Then 'Google' the following nine videos and watch them on the web for proof that the U.S. Government is being controlled by a cartel of corrupt, greedy, and inept bankers who also control Wall Street and even the price of oil-

1) FULL SHOW: HOW BIG BANKS ARE REWRITING THE RULES OF OUR ECONOMY

2) AMERICA: FREEDOM TO FASCISM

3) FRONTLINE: THE WARNING

4) INDYMAC BOYS GET SWEETHEART DEAL

5) YOUTUBE FALL OF THE REPUBLIC

6) WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO

7) WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010

8) EX-SALT LAKE MAYOR ROCKY ANDERSON FORMER DEMOCRACY NOW

9) DID SPECULATION FUEL OIL PRICE SWINGS

Feel free to type in 269041 at this site and read what is stated in 'Consumer Comment #3' at Ripoff Report #269041, entitled "Blame it on a Lawyer" in order to learn more about stocks and the stock market.

Thank You

"Knowledge is power."

POWER TO THE PEOPLE













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#4 Consumer Comment

'GOOGLE' this. "KARL" is running out of ammo..

AUTHOR: Ronny g - (USA)

..Seems he has resorted to dreading up 2-3-4 year old posts to reply to these days. Why is that?
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#5 Consumer Comment

DISH POEM...

AUTHOR: Karl - (USA)

was submitted at this website on May 3, 2012.

Just stay at this site and type in- DISH, and go to Ripoff Report #877772 to see if it is available in the consumer comments section at Ripoff Report #877772.
(You can also type in 877772 at this site and that will take you there.)

Thank You

***FERRARI ALERT: Make sure to stay at this site and type in- FERRARI, and read the Ripoff Reports for valuable information if you are part of the 1% of the American population that might have a Ferrari.
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#6 Consumer Comment

Brandr, Did you know that Wachovia Corporation is part of the Federal Reserve......

AUTHOR: Karl - (USA)

according to information that is available on the web?

If you 'Google' this- WHO OWNS THE FED?, and go to the site with the five charts you will see that Wachovia Corporation is listed in 'Chart 3'.

Some people in the USA understand that the Federal Reserve is ultimately in control the U.S. Government. Maybe that is why they told you that they would report the transferring of funds to the government, wouldn't you now agree?

Make sure to 'Google' all of the following videos and watch them on the web for proof that the banking cartel (Federal Reserve) is ultimately in control of the U.S. Government, Wall Street, and even the price of oil-

1) FRONTLINE: MONEY, POWER AND WALL STREET

2) WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010

3) AMERICA: FREEDOM TO FASCISM

4) INDYMAC BOYS GET SWEETHEART DEAL

5) WHO OWNS THE FED BANK, WHO CONTROLS WHO VIDEO

6) YOUTUBE FALL OF THE REPUBLIC

7) FRONTLINE: THE WARNING

8) FULL SHOW: HOW BIG BANKS ARE REWRITING THE RULES OF OUR ECONOMY

9) DID SPECULATION FUEL OIL PRICE SWINGS

Then 'Google' this- THE ASCENT OF MONEY PBS, and watch the episode entitled 'Bonds of War' on the web in order to understand what is happening, and what is about to happen in the USA, Europe, Asia, and other parts of the world in the near future.

Have a nice weekend.



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#7 Consumer Comment

Brandr..it is already being "addresssed"...

AUTHOR: Ronny g - (USA)

"I am waiting for the Obama administration to address the fact that banks make 60% of their profits in predatory fees. I fear I wait in vain."

Now I am no big fan of Obama..and I am an independent Libertarian..I normally don't agree with either of the "main" parties..I lump them into one actually.."Republicrats".

But there is notice by this administration..and some members of congress regarding certain tactics and policies the banks have used to yield excessive fees. Some banks have already put changes into effect voluntarily..some will by next year..and legislation as well as lawsuits could bring on even more changes to better protect our money..and be more fair to the customer..nothing unreasonable.

Has far as the specific issue you had..yes..if those are Government regualtions..we can't blame the bank..no can do. I never had the issue of worrying about any "fees" from withdrawing too much money at once..so I never looked into it..I can't debate the issue with integrity.

If you really do want full control of all your money these days....I think Karl is on to something..simply avoid these butthole banks altogether.




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#8 Consumer Comment

Brandr...

AUTHOR: Karl - (U.S.A.)

Simply take ALL of your money out of any bank account you have. It's YOUR money! You can do whatever you'd like with it. You can put it in a box & bury it somewhere. At least you'll know where it is and you'll be able to get it whenever you want, right? And you won't be assessed any fees! I have all of my money buried in a box somewhere in the mountains of Colorado. I'm 100% certain that the bears, mountain lions, squirrels, & other critters won't touch it. I TRUST them!


Have a nice evening.
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#9 Consumer Comment

The bank was right...

AUTHOR: Robert - (U.S.A.)

I thought this sounded preposterous and was incensed that the bank was telling me what I could and couldn't do with my own money

-Preposterous or not the bank was right.  If you have a problem talk to the Government about Regulation D(Reg D).  That specifically limits the withdraws you can make out of an "Interest Bearing Account".  I am actually happy to hear that they at least notified you of this in advance and didn't just start hitting you with the fee.

I inadvertently withdrew 40 dollars from my savings at the ATM. I meant to withdraw from my chequing account. I was charged a 45 dollar excessive withdrawal fee!

- That was your mistake and as they notified you they are required to do this by Government regulations.  The same thing would have happened at any bank.

I once had someone deposit two cheques concurrently. A supposedly lost cheque, and the replacement I had given them.

- Your problem is the person that cashed BOTH checks.  Unless you had put a Stop Payment on the check, the bank has no idea that it should not be paid.  In that case it would be a case of a Bank Error, and they should make it right.  But if there was no Stop Payment you need to go after that person for not only the extra $325 but ALL of the fees they caused.

Even with the fact that it is Government regulations and another person that caused your fees.  I will leave it to other well meaning people to post how you are still a victim of the banks policies.

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#10 Consumer Suggestion

Savings account

AUTHOR: Flynrider - (U.S.A.)

What you experienced with the savings account holds true at any bank. There are federal rules which limit the number of transfers out of a savings account in a given month. They're spelled out in the terms and conditions for the account and are pretty much the same for any savings account in a U.S. bank. You should consider making fewer, larger transfers to stay within the limit. Or, if your planning on closing the account, just have them close the whole thing and move the entire balance to your checking account.

 From the Wachovia savings account FAQ :

Federal regulation limits outgoing transfers to third parties or pre-authorized transfers (including overdraft transfers), or transfers made by telephone or personal computer, to six per statement cycle. No more than three of these transfers may be by check, draft, or check card. A fee may apply for exceeding withdrawal transaction

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#11 Consumer Comment

Brandr, It's good to let off some 'steam' and spread the word all over the....

AUTHOR: Karl - (U.S.A.)

WORLDWIDE WEB!

A good place to do it is at BusinessWeek.com because they are the #1 Business magazine, according to a report I read, with readers from all over the world. Anyone can go to BusinessEeek.com and read the articles, & even post comments in the 'comments section'.

If you 'Google' this- SOCIAL MEDIA WILL CHANGE YOUR BUSINESS, you can read that BusinessWeek article and you can also read all the comments. I believe on March 31st 2008 at 6:00 PM, a song was posted there that's entitled- 'WEB SONG'.

Sing a song- you can't go wrong!

Good luck to you.
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