Wachovia Banking Wachovia Bank, NA fradulent overdraft policy, ensuring maximum amount of overdraft fees can be deducted by holding items until you overdraft Ripoff Greensboro North Carolina

With gas and food costs rising, I'm sure that money could be put to better use than giving it to the banks as fees.

The best way to do that is not to overspend your account. Not by a dollar or even a penny.

If you have to write your balance on a scrap of paper in your wallet, do it.

So Why did you spend $6.00 when you only had $5.00. If you have trouble with the math, why not take out about $20.00 on CASH, then when you want to make all those pesky little purchases, you can just pay cash and avoid the whole thing. Another thing that most of you all who apparentlya re addicted to your debit cards, the bank can, and usually does, charge you a fee for using your pin number. I always use mine as a credit when I can so I do not have to use my pin number.

The respondent to this posting obviously has not been victimized by Wachovia. Let's say you have $25 in your account. You go out one day and make transactions on your check card in the amounts of $5, $10, and another for $5. Your balance should now be $5, and those transactions are on hold. The next day you go out and spend $6, only $1 more than you have in the account. You are immediately hit with a $35 overdraft fee making your balance -$36.

Then when all 3 of the other transactions come off hold, you will be hit with 3 more $35 fees, even though the money was held out and was available when you made the purchase. So now you have spent only $1 more than you had, but your balance is now -$141 due to the $140 in overdraft fees. In addition, when that last purchase comes off hold, you be charged ANOTHER OD fee. Now your balance is -$176, $175 of which is O/D fees.The purpose of a HOLD is to ensure the money is there when it is paid. They hold money out, then charge an O/D fee when it comes off of hold even if you had money there to pay for that transaction. They just assume us consumers are too stupid to realize what they are doing.

it makes no difference if they hold the transaction for days, months or years. You are spending money that has already been spent, therefore overdrawing your account. There is nothing fraudulent about their NSF policies. They are certainly not for the customers advantage but still not fraudulent. They are spelled out in your account terms and conditions.

Give it a read sometime. Don't wait for the movie to come out. You may be surprised what else the bank can do.