Report: #455607

Complaint Review: Wachovia - Nationwide

  • Submitted:
  • Updated:
  • Reported By: Barnegat New Jersey
  • Wachovia wachovia.com Nationwide U.S.A.

Wachovia Fees and transactions held for incurring fees Bayville New Jersey

*Consumer Comment: Weekend deposit?

*Consumer Comment: Deposits on 5/23/09

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I am one more Wachovia victim! They have done this several times this year and today I went to the local branch in Bayville ,NJ to speak to the manager about why the deposit made on Saturday the 23rd of May is still not in my account. She very rudely told me the transaction will take place at Midnight and I stayed awake and video taped the web site at 12:39 and the deposit is not there yet! This manager lied to me and that's how Wachovia is ripping off thousands of customers across the country. They wait for the opportune moment to put the bigger transactions first so they can apply the cascading fees. If anyone is interested in a clas law suit against Wachovia in NJ contact me. This has to stop! My email is (((ROR redacted)))

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

Robson francisco
Barnegat, New Jersey

This report was posted on Ripoff Report on 05/26/2009 09:59 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wachovia/nationwide/wachovia-fees-and-transactions-held-for-incurring-fees-bayville-new-jersey-455607. 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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#2 Consumer Comment

Weekend deposit?

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

POSTED: Wednesday, May 27, 2009
Banks(and that means EVERY bank) do not POST transactions on Weekends or Holidays. So any deposit you make on a weekend(or holiday) will be posted overnight after the first banking day(being available on the 2nd Business Day). So a deposit on Saturday with Monday being a holiday would have it posted on Tuesday night, and available on Wed.

Now, there are exceptions where they are allowed(per Federal Guidelines) to hold checks for an additional amount of time. That may or may not come into play for your account.

Also, while she it would be posted at Midnight, that does not mean that it will show up on-line exactly at midnight. It may be delayed a few hours during the updates. Since you wrote this report not even a couple hours after Midnight(EDT) this could be the case.
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#1 Consumer Comment

Deposits on 5/23/09

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

POSTED: Wednesday, May 27, 2009
Keep in mind that Saturdays are not a business day for the banks. They are open as a courtesy but any deposits made on that day are considered to have been made on the next business day.

In most situations, your deposit would have been a Monday transaction and the funds available on Tuesday. However, Monday May 25th was a holiday so your deposit was actually a Tuesday transaction and the funds should be available on Wednesday the 27th.

Making deposits available the business day after the transaction was processed does not generate overdraft fees.

The only remaining issue is that the manager said that the funds would be available at midnight. I have no idea what time Wachovia typically makes deposits available but none of the other banks I've used made deposits available at midnight. They are usually available between 3 and 5 a.m. One might argue that the manager was mistaken but you'd expect the manager to know better.

In any case, the OP's money should be there when he/she wakes up.
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