Complaint Review: Wachovia - Internet
- Wachovia www.wachovia.com Internet U.S.A.
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- Category: Banks
Wachovia Manipulating my bank transactions Internet
*Consumer Comment: Posting order
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Wachovia manipulates banking transactions in order to obtain excessive overdraft fees. They arrange the debits from the largest to the smallest, regardless of the type of debit. An ATM debit should post immediately, however, it is put into a "processing" status, in order to rearrange the transaction.
Wachovia representatives have stated that they do this in an effort to assist the consumer, stating that the largest debits are, often times, the most important, i.e. mortgage, rent, car, etc. Their rationale does not hold up because while they are collecting excessive amounts of money in fees, they are frequently causing more financial burden to the consumer.
I find it difficult to understand how banks have been permitted to have such control over the order in which I spend my money. Wachovia's process process appears to be methodical and deliberate. I did not ask them to do me any favors by rearranging me debits. I should at least be given a choice whether to allow my mortgage to bounce or my debit from McDonalds!
Carla
Powder Springs, Georgia
U.S.A.
This report was posted on Ripoff Report on 10/16/2008 08:17 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wachovia/internet/wachovia-manipulating-my-bank-transactions-internet-381783. 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
Posting order
AUTHOR: Ken - (U.S.A.)
SUBMITTED: Monday, October 20, 2008
It doesn't matter what order they post, if you have the money in your account to cover the debits. If you don't, and you are using your debit card at McDonalds, your problems go far beyond the posting order.
Consider cutting up the debit card and going back to cash and checks. Every overdraft charge that you DON'T get, will buy you 5 more trips to McD's.
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