Wachovia Bank Take action against Wachovia's overdraft practices with a Class Action Suit Ripoff Savannah Georgia

""How do we join the class action suit
We have also been through the same dealings with Wachovia. They have taken a large amount of money out of our account for the same reasons as you. How do we join the class action suit? We live in Pennsylvania. I am sure that if the word gets out there are thousands of people this exact thing has happened to.""

If there is a pending class action lawsuit and you have been wronged, you are usually automatically added as a class plaintiff (you are mailed documents about the actions, including instructions as to how to opt out of the class action.) Currently, I can find NO lawsuit over the posting order that banks use.

So, you're free to start your own lawsuit and request class action (if you wish.)

Starting a lawsuit is quick and easy. Here's the basic steps to starting a class action lawsuit:

Step 1. You have to have a case; a basis for the lawsuit. Usually this means that the defendant is doing something illegal and/or fraudulent. The ORDER that a bank uses to post actions is up to the bank-they can post actions in any order. The ORDER that a bank posts actions is not a basis for a lawsuit and NO attorney is going to annoy a court by filing a frivolous suit based on the posting ORDER.

Step 2. Find an attorney that is willing to handle and file your case. (refer to step 1.)

Step 3. Cough up the CASH needed to start the lawsuit. Filing a lawsuit costs MONEY-court fees, administrative fees, initial legal fees, etc. You have to be willing to FUND the lawsuit proceedings. NOTE: the administrative costs for a class action lawsuit can be staggering depending on the possible number of members to the class. Defendant records have to be obtained and reproduced, the potential members of the class have to be NOTIFIED of the lawsuit and their option to opt OUT of the class action, etc. The greater the number of possible class plaintiffs, the GREATER the administrative costs-can be tens of thousands of dollars.

Step 4. Proceed with lawsuit-file a lawsuit in a higher court and request class action status. Class actions status is NOT automatic-the court has to GRANT class action status. The plaintiff must convince the court that many folks are victims of the same circumstances or that there is reason to believe that many folks are victims of the same circumstances.

If you have a case for a suit against a lender, you would be better off filing an individual lawsuit.

""How do we join the class action suit
We have also been through the same dealings with Wachovia. They have taken a large amount of money out of our account for the same reasons as you. How do we join the class action suit? We live in Pennsylvania. I am sure that if the word gets out there are thousands of people this exact thing has happened to.""

If there is a pending class action lawsuit and you have been wronged, you are usually automatically added as a class plaintiff (you are mailed documents about the actions, including instructions as to how to opt out of the class action.) Currently, I can find NO lawsuit over the posting order that banks use.

So, you're free to start your own lawsuit and request class action (if you wish.)

Starting a lawsuit is quick and easy. Here's the basic steps to starting a class action lawsuit:

Step 1. You have to have a case; a basis for the lawsuit. Usually this means that the defendant is doing something illegal and/or fraudulent. The ORDER that a bank uses to post actions is up to the bank-they can post actions in any order. The ORDER that a bank posts actions is not a basis for a lawsuit and NO attorney is going to annoy a court by filing a frivolous suit based on the posting ORDER.

Step 2. Find an attorney that is willing to handle and file your case. (refer to step 1.)

Step 3. Cough up the CASH needed to start the lawsuit. Filing a lawsuit costs MONEY-court fees, administrative fees, initial legal fees, etc. You have to be willing to FUND the lawsuit proceedings. NOTE: the administrative costs for a class action lawsuit can be staggering depending on the possible number of members to the class. Defendant records have to be obtained and reproduced, the potential members of the class have to be NOTIFIED of the lawsuit and their option to opt OUT of the class action, etc. The greater the number of possible class plaintiffs, the GREATER the administrative costs-can be tens of thousands of dollars.

Step 4. Proceed with lawsuit-file a lawsuit in a higher court and request class action status. Class actions status is NOT automatic-the court has to GRANT class action status. The plaintiff must convince the court that many folks are victims of the same circumstances or that there is reason to believe that many folks are victims of the same circumstances.

If you have a case for a suit against a lender, you would be better off filing an individual lawsuit.

""How do we join the class action suit
We have also been through the same dealings with Wachovia. They have taken a large amount of money out of our account for the same reasons as you. How do we join the class action suit? We live in Pennsylvania. I am sure that if the word gets out there are thousands of people this exact thing has happened to.""

If there is a pending class action lawsuit and you have been wronged, you are usually automatically added as a class plaintiff (you are mailed documents about the actions, including instructions as to how to opt out of the class action.) Currently, I can find NO lawsuit over the posting order that banks use.

So, you're free to start your own lawsuit and request class action (if you wish.)

Starting a lawsuit is quick and easy. Here's the basic steps to starting a class action lawsuit:

Step 1. You have to have a case; a basis for the lawsuit. Usually this means that the defendant is doing something illegal and/or fraudulent. The ORDER that a bank uses to post actions is up to the bank-they can post actions in any order. The ORDER that a bank posts actions is not a basis for a lawsuit and NO attorney is going to annoy a court by filing a frivolous suit based on the posting ORDER.

Step 2. Find an attorney that is willing to handle and file your case. (refer to step 1.)

Step 3. Cough up the CASH needed to start the lawsuit. Filing a lawsuit costs MONEY-court fees, administrative fees, initial legal fees, etc. You have to be willing to FUND the lawsuit proceedings. NOTE: the administrative costs for a class action lawsuit can be staggering depending on the possible number of members to the class. Defendant records have to be obtained and reproduced, the potential members of the class have to be NOTIFIED of the lawsuit and their option to opt OUT of the class action, etc. The greater the number of possible class plaintiffs, the GREATER the administrative costs-can be tens of thousands of dollars.

Step 4. Proceed with lawsuit-file a lawsuit in a higher court and request class action status. Class actions status is NOT automatic-the court has to GRANT class action status. The plaintiff must convince the court that many folks are victims of the same circumstances or that there is reason to believe that many folks are victims of the same circumstances.

If you have a case for a suit against a lender, you would be better off filing an individual lawsuit.

#1 Each and every night Wachovia posts in the following order: deposits/credits for that business day and then debits (yes, largest to smallest) for that business day. Look at your statements, you'll se this is consistant. Not something that is changed daily.
#2 Debit cards holds will post when the merchant requests the payment by forwarding the documentation. HINT: if you use your card as a debit card (meaning put your PIN in with the purchase, there will always be a hold creatd and the item will post the next business day. Use it as a credit card and it will post when the merchant requests payment.
#3 If you keep a register and don't overspend your account, it will not matter what order the items are posted in, you will not be accessed a fee. But if you feel that you still have money because you still have checks, well then you will pay lots of fees.

The largest to smallest posting: pay your mortgage vs pay your Starbucks cofee. Will the posting of the largest item first cause more fees? Yes if the customer continually overspends their account. If the banks posted smallest to largest would you be happy that you Starbucks was paid without a fee but your mortgage/rent check as returned unpaid? This would cause fees with your landlord and possibly a requirement that you pay in guaranteed funds, i.e. cash or money order. But again, if you don't overspend your account the point is mute because you won't be accessed fees. It's really simple.

P.S. As far as the lawsuit, you might want to check the results of other lawsuits where the judge and lawyer suing the banks admitted that the banks can charge ahy amount for OD fees and post in whatever order they want as long as the customer is notified. This notification is covered by the Terms & Conditions given you when you open your account. And for Edward, yes the notification 'if you overspend your account you will be charged a fee' is valid. Please don't continue to argue semantics in response to a mathematic problem.

Step 1. Have a BASIS for a lawsuit; identify the laws, regulations, fraudulent practices, etc. that the bank is violating.

Step 2. Find an attorney who will handle your lawsuit.

Step 3. PAY the initial legal fees, court costs, administrative costs, etc. to proceed with the lawsuit.

It's just this simple.

We have also been through the same dealings with Wachovia. They have taken a large amount of money out of our account for the same reasons as you. How do we join the class action suit? We live in Pennsylvania. I am sure that if the word gets out there are thousands of people this exact thing has happened to.

Thank you,

We have also been through the same dealings with Wachovia. They have taken a large amount of money out of our account for the same reasons as you. How do we join the class action suit? We live in Pennsylvania. I am sure that if the word gets out there are thousands of people this exact thing has happened to.

Thank you,

We have also been through the same dealings with Wachovia. They have taken a large amount of money out of our account for the same reasons as you. How do we join the class action suit? We live in Pennsylvania. I am sure that if the word gets out there are thousands of people this exact thing has happened to.

Thank you,

You were not asked to endorse a bank..you were asked to provide a list of the banks you claim post transactions in a manner that does not maximize NSF fee collection.

One last time...please post the information you claim you have...if you actually do have it. You have claimed ad nausium that this list exists and would serve customers better than other banks. Either put up or shut up.

You were not asked to endorse a bank..you were asked to provide a list of the banks you claim post transactions in a manner that does not maximize NSF fee collection.

One last time...please post the information you claim you have...if you actually do have it. You have claimed ad nausium that this list exists and would serve customers better than other banks. Either put up or shut up.

You were not asked to endorse a bank..you were asked to provide a list of the banks you claim post transactions in a manner that does not maximize NSF fee collection.

One last time...please post the information you claim you have...if you actually do have it. You have claimed ad nausium that this list exists and would serve customers better than other banks. Either put up or shut up.

Truth Detector, you put me in a precarious position. As you and everyone else have seen in many OP's and rebuttals, MANY bank customers have expressed frustration, and disgust with the Largest-First posting policy by many banks. So logically, a recommendation to them would be to close their account with said bank and switch to one with policies to their liking.

However, as the ROR editors have indicated in the past to other posters, I don't want to come right out and say switch to 'John Doe bank. They're great!'. This makes me out to be a bank cheeleader with a biased agenda, trying to drum up business for a specific bank, either as a branch manager, employee, or loyal customer of said bank. Then, all this would do is cause others to do the same thing for their bank and create a back and forth, 'tit for tat', episode that deviates from unbiased input, recommendations, suggestions, and opinions.

So therefore, I try to remain unbiased, but at the same time, still try to offer a suggestion to the complaining OP. The suggestion is, switch to a bank with your liking, but make YOUR OWN choice.

You've already done some research and have indicated several National banks that do implement this policy. Simply keep going. If you look at any recent list with National banks ranked in terms of total assests, simply start from the top of that list. Those that you mention are at the top. I ASSURE you, you won't have to go to far down the list.

Finally, by your own words in your previous post, you have indicated that these banks 'actively implement policies to maximize profit'. So you're conceding that this is one of the MAIN reasons for implementing such a policy, even at the expense of their customers, contrary to all of the garbage we hear about Mortgage payments. So now, YOU TOO are agreeing with all of the previous complaining OP's about TRUE MOTIVES behind this policy.

Once again, I know that banks are FOR PROFIT businesses. But is it good business to implement a policy that unfairly and adversely hurts thousands of YOUR CUSTOMERS? Then, is it good business to LIE to YOUR CUSTOMERS, about the reason for the policy?

You stated, 'There are still a few National banks that post items in sections by transaction type, for example Deposits first, ATM's second, debit cards third, checks fourth, and so on.'

Maybe you would be so good as to provide us with a list of these mysterious national banks who do not actively implement policies to maximize profit. I know for a fact that Wells Fargo, Key, National City, BOA, Wachovia, Compass, and 5/3 are not among this list.

I do not ask for this list as a joke or to mock you. I would just like to know who they are. seriously.

You stated, 'There are still a few National banks that post items in sections by transaction type, for example Deposits first, ATM's second, debit cards third, checks fourth, and so on.'

Maybe you would be so good as to provide us with a list of these mysterious national banks who do not actively implement policies to maximize profit. I know for a fact that Wells Fargo, Key, National City, BOA, Wachovia, Compass, and 5/3 are not among this list.

I do not ask for this list as a joke or to mock you. I would just like to know who they are. seriously.

You stated, 'There are still a few National banks that post items in sections by transaction type, for example Deposits first, ATM's second, debit cards third, checks fourth, and so on.'

Maybe you would be so good as to provide us with a list of these mysterious national banks who do not actively implement policies to maximize profit. I know for a fact that Wells Fargo, Key, National City, BOA, Wachovia, Compass, and 5/3 are not among this list.

I do not ask for this list as a joke or to mock you. I would just like to know who they are. seriously.

You stated, 'There are still a few National banks that post items in sections by transaction type, for example Deposits first, ATM's second, debit cards third, checks fourth, and so on.'

Maybe you would be so good as to provide us with a list of these mysterious national banks who do not actively implement policies to maximize profit. I know for a fact that Wells Fargo, Key, National City, BOA, Wachovia, Compass, and 5/3 are not among this list.

I do not ask for this list as a joke or to mock you. I would just like to know who they are. seriously.

I wonder if Meisha laughed at the Mortage check writers who whined for bouncing their mortgage checks because THEY TOO couldn't balance their check books which is why the new Largest-To-Smallest posting order was created?

Strideq's last statement is VERY GOOD advice. I wonder if he offered it to the mortage check bouncers a few years ago when they whined to the banks to change their posting order?

In no way do I advocate spending money you don't have. But I'm a human being that understands mistakes do happen. If you're looking for a bank that doesn't seek to kick you when you're downn and UNFAIRLY capitalize on your mistakes here's a suggsestion.

There are still a few National banks that post items in sections by transaction type, for example Deposits first, ATM's second, debit cards third, checks fourth, and so on. Deposits are usually always first and FEES are usually always last, but the order may vary for the other sections in between.

Then within each section they post items in the order they were TRANSACTED. Deposits, ATM's and Debits in order by day/time within their respective sections, and checks in order by check number within their section.

Do not be fooled into thinking that ALL banks practice the Largest first posting order.

Okay here we go. A few points for everyone.
Keep a register, not in your head but on paper. The bank provides them with your checks or you can order them or get them at the branch. Mark down every transaction you make as you make it.
Watch your cutoff times for when your deposit will post. Just because you got the deposit in at 5:55 PM, just before the branch closed, your deposit may not credit until the next business day and will not be available for anything posting or anything purchased that night.
Don't spend more than you have in you account as recorded on your register. The bank can't know about the check you wrote or the pay by phone you authorized until it comes in to post.
As far as leaving this "wicked, rip off bank" and going to another, do yourself a favor first. Put the name of the bank you want to go to in the search block here and look at the results. I bet most of them are going to be from people that don't keep registers complaining about being ripped off for OD fees.
The fees are charged everywhere. It comes down to : DON'T SPEND MORE MONEY THAN YOU HAVE AND YOU WILL NOT GET ANT OD FEES.

Bottom line it doesn't matter when you use your debit card if you overspend you overspend!!! Keep a register....stop trying to spend like you got a AMEX Black Card. Its a checking acct...you don't have the money DON'T USE IT!!! You over spend you going to get fees POINT BLANK PERIOD!! And also some of you try to be slick and use up all the money in your acct so certain payments don't go through (I've done it too) But you got to remember this if your mortgage payment is more than that $25 trip to the nail salon the bank is going to pay it!!! What I learned is ACH withdrawals go through first, then ATM withdrawals, then the checkcard purchases. So to all of you who think you slick and think oh I'll just take all the money out or spend all the money so that my payment bounces and I can deal with it later you only screwing yourself. Some of you still haven't learned to keep a register and you only biting yourself in the butt. Its not the banks fault its your fault!! Oh and you not going to win in any type of class actions suit because of this little booklet you received when you opened the acct. (Some of you probably threw it away.) Its called a depositors agreement!!! Go to your local branch and pick one up. When you signed it you agreed to the fees. That's why I don't bank with banks, I only do credit unions. No multiple NSF fees for returned checks. But then again anytime I ever overdrew my acct I knew so I don't blame the bank. Take responsiblilities for your own actions people. KEEP A REGISTER OR STOP BANKING!!!

I would rather have my charges go through in order the dates they were charged. Holding my charges in some hold purgatory and then processing the largest through is not the answer for me personally. Mistakes happen, we all make them. If i look at my account and I see I have funds available and I use my check card I expect my charge to go through at that time as I see it online especially if i see it deducted from my available balance. You cannot tell me that Holding my charge for 7 days, and then I make one charge on day 7 that is large and it is cleared but puts you in the negative and smaller charges go through that you charged 7 days before and they all bounce is considered fair. I made 10 charges between 10/5/2007 and 10/9/2007 all funds were available to cover these charges, all these charges were held till 10/09/2007, I did 1 transaction that was a few dollars short on 10/09/2007, they took that large charge on the 9th( 4 days later) , put it through FIRST, then instead of processing my prior charges individually, they totalled these charges together as one sum and processed it against my available balance, THEN charged me $35 Dollars for each charge. Well if you are processing my on hold charges as one amount against my available balance why aren't you charging me ONE NSF fee? And...if I made these charges and the funds were available when i did them why are you priortizing the largest charge made 5 days later over what is already available to cover what has already been charged? This is what you call fair? This is deception, plain and simple trickery. I understand if the funds arent available its my fault and I take responsibility for that charge that I made that had no funds, fair enough, charge me that ONE NSF fee...........BUT if i make charges and I know the money is there i want those charges paid not held. Its easier for me to pay $35.00 for one fee and i could figure out a way to fix the mess I made than it is to loose $350.00, and as a customer service organization this bank should be acknowledging this is a problem and looking out for its consumers. Why are there THOUSANDS of posts all over the internet about this if it is not a problem?
I am also looking to join any class action lawsuit: The address I was told to write to for the president of the company is:

Wachovia National Bank
Office of the President
1525 West WT Harris BLVD
Charlotte, NC 28288-0947

BoA announced this weekend, they don't announce things like this on weekdays, that they are RAISING the fee to use their ATM's to $3. I don't know if that's for non-BoA customers or BoA customers. It might be more if you're a non-BoA customer if your bank charges you to use a "foreign" ATM. The announcer speculated that in the next few years it would go to $5. $3 or $5 frickking dollars to get your OWN money out of your OWN frickkin' bank? Keep paying it suckers. Haven't had an ATM card since the early eighty's. And I'm getting sick and tired of those ***hole visa commercials where they show the person holding up the line BY PAYING CASH. **** THEM. I don't know a single quicky place that would rather take a credit card then cash since they have to pay the percentage to visa/mc/ae then wait for the approval and then wait for the printer to spit it out and find a pen, then wait for the customer to sign it and then give the customer his copy, then slot the store's copy. What a line of crap.

if i were you i would leave wachovia and go to bank of america.i had bank of america before i went to wachovia and let me tell you it was the worst mistake i ever made in my life.to this day i don't know why i left bank of america(wait i know why,wachovia has atm machines closer to my house).when i was with bank of america i never had to worry about alot of fees and all my checks were paid on time with being charge a dumb fee.and if went into overdraft with them it was a amount of maybe 55.00 or something not 254.00 like wachovia.at one point i had to pay over 500.00 in overdraft fees with wachovia.man was i mad.i kept all my receipts with wachovia even the merchant receipts and still i find myself paying fees.not no more i'll never go back to those fee jackers.you should try them(bank of america)nothing goes on hold when you make a purchase,it comes out as soon as you make the purchase.so try them i bet you don't have to worry no more.

Scott,

Do you really think that the bank is taking advantage of you? Or are you taking advantage of the bank?

Who cares on the order of posting debits from largest to least. If you had the money in your account to begin with, you would have been fine.

Obviously, you overspent on your account.

Now also based on your complaint, it is clear you do not understand how checkcard holds work.

When you buy something, the second you swipe your card, an authorized hold is guaranteed by Visa for the merchant against your account. That hold is taken out immediately from your checking account as an authorized hold.

Now, that merchant needs to remit a proof-of-sale receipt to your financial institution. This process usually takes 1 to 3 days. But in the mean time, that item is on hold so YOU can track it, and the bank can have it deducted off your posted balance so you don't spend against it.

So while it is on hold, your mortgage debit/check also comes in the same day the bank gets the proof-of-sale. Uh oh, who does the bank pay?

The bank had no clue your mortgage debit/check is out there, only you would through your register (you do keep one, right?) Unless of course you pay your mortgage with your checkcard, but I highly doubt that.

The bank MUST guarantee that Visa Checkcard transaction. Does the bank honor your check? Sure, it pays it off for you, you get charged a $35 overdraft fee.

Or would you perhaps it bouce? So now not only do you pay a $35 non-sufficient fund fee, but your mortgage get the bounced check, charges you a bounce check free and has the impression that you write bad checks. (Or if it was a credit card payment that was returned and now you're stiffed with a higher APR on your balance).

Which would you prefer?