Report: #158887

Complaint Review: Wachovia Bank - Atlanta Georgia

  • Submitted:
  • Updated:
  • Reported By: snellville Georgia
  • Wachovia Bank 71 17th Street Atlanta, Georgia U.S.A.

Wachovia Bank ripoff Atlanta Georgia

*Consumer Comment: The Big Secret

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For example when you make a purchase with your debit card and it approves the charge if the merchant does not send in the charge at the same time the approval is done. Then what happens if approves another purchase and the merchant has not sent in the provious one it will keep approving charges as long as the merchant has not sent in the actual charge and then when the actual charges get to wachovia and there is a overdarft then wachovia can charge you all the overdraft fees on charges the come in later even though they were approved by wachovia.

This is their secret way of collecting these fees. If it was a regular credit card it would have not approved any more charges once you reach the limit even if the actual charge has not been sent in. It keeps the appoval in the system and does not let you charge any more. But not with Wachovia and their overdraft fees. This month I have paid them over $720 in overdraft fees alone. Our budget has been a little tighter in the lst few months and I have not had as large of a cushion as I normally have in my account. I have banked with this company for 25 years and this is just starting to happen with them.

snellville, Georgia

This report was posted on Ripoff Report on 09/29/2005 04:19 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wachovia-bank/atlanta-georgia-30309-4574/wachovia-bank-ripoff-atlanta-georgia-158887. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

The Big Secret

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

POSTED: Friday, September 30, 2005

How can you write that the bank has a big secret to get fees by letting you overdraw? If this is true, then it's no secret... for a hundred years you could do the same thingby writing checks that you couldn't cover.

As you note in your posting, you are using a debit card, but then you talk about the way a credit card works. Even though they look alike, they are not the same thing, and do not hit your account the same way. If you are going to use one, you absolutely need to know how they work, and what your obligations are.

And speaking of obligations, you have never been relieved of your obligation to keep track of your own money, and not to write checks or make debits against funds that you don't have.

So now Wachovia's big secret is exposed for everyone.
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