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Report: #323097

Complaint Review: World Savings - Charlotte North Carolina

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  • Reported By: Hayward California
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  • World Savings 1525 West W.T. Harris Blvd Charlotte, North Carolina U.S.A.

World Savings HELOC Predatory actions Charlotte North Carolina

*UPDATE EX-employee responds: You're kidding right.

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Late 2007 I obtained an HELOC with World Savings Bank (my then mortgage company). After I received lmy HELOC (approximately one or two months afterwards) Wachovia Bank bought out World Savings leaving me with a balance from the HELOC that transferred over to Wachovia Bank. I made the decision to open a Wachovia checking account so that I can have online bill pay and also free automatic overdraft protection. At the time I opened my checking account with Wachovia bank they gave me a credit card without my approval. After this time I had made several purchases knowing (or thinking) that I had overdraft protection with my HELOC loan. This was not the case. They put everything that was overdrafted on the credit card that they gave me when I received my new checking account. I cannot have overdraft protection, nor can I transfer funds from this HELOC account to another account. What can I do? They did not disclose any of this to me when I got the HELOC loan nor when I got the new account from Wachovia Bank. There are too many restrictions on this HELOC which defeats the purpose of having one. I was deceived.

Hayward, California

This report was posted on Ripoff Report on 04/02/2008 10:04 AM and is a permanent record located here: 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 UPDATE EX-employee responds

You're kidding right.

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

POSTED: Friday, January 09, 2009

You are mad because you opened up a checking account with Wachovia then they gave you a credit card that you didn't have to apply for which gave you the overdraft protection and you are mad because you THOUGHT it would just go to your HELOC which is a MORTGAGE not a banking or deposit product. You stated yourself you didn't know if it would go to the HELOC but your upset because you didn't check on it or think to ask before you bought too much stuff!!!!!!!

So over consumers complaining because they didn't do anything to prevent their mishaps. The free overdraft is with the credit card and if you asked or read the application it would have told you this.

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