My main Wachovia checking account had a balance of over $1,300.00 on January 18. I scheduled a $250.00 payment to my Wachovia MasterCard (managed through MBNA) on January 12 through Wachovia's On-Line Banking transfer drop-down menus (not through their Bill-Pay.) The transfer / payment was scheduled to occur on the MasterCard's due date, January 18. I always pay my Wachovia MasterCard in this manner.
Late on January 18, I checked my email and noticed an "Important Message" from Wachovia. The email said that my transfer / payment wasn't made because my checking account was NSF (Non-Sufficient Fund.)
This meant that my MasterCard payment would now be late and the result would be the card's interest rate would go into "default mode"... From 6.99% to 21.99%
I called Wachovia immediately and talked with two Wachovia representatives and they even called MBNA while I was on hold.
First they tried to tell me that I couldn't pay my MasterCard by using the account transfer screen. I explained that I pay this way every month and had done it this way for many years ever since they began on-line banking. Even their own records backed up my claim. They tried to tell me that I have to pay the MasterCard account through their Bill Pay service because the credit card is contracted out to MBNA. They finally relented when they could not find any record of my ever having made a payment through Bill Pay nor have I ever written a check to MBNA.
They could offer NO reason for the NSF email. Both Wachovia rep's agreed that the money was there. There were NO other pending transfers, deposits, check card holds, or the usual excuses. Even if I DID have NSF, I have four other accounts tied to this checking account as overdraft protection. Nobody could explain why THAT didn't happen.
The sole purpose and intent of this "error" was to drive my MasterCard balance into "default mode." I guarantee that this is a regular and illegal practice done by Wachovia. Most people don't notice subtle changes in their accounts and Wachovia makes millions of dollars a year from this kind of unnoticed fraud.
This is the third time in a year Wachovia has done this to me... But Wachovia's "got me" and they know it. I have eight business and personal accounts with them and they know that changing banks will be an ENORMOUS expense and time consuming project for me!
It's time for me to switch banks, but not until I (finally) deal with the State Banking Commissioner.
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