The following letter I sent in Jan. 6;
Problem Solvers
4466 John Young Parkway
Orlando, Fla. 32804
[email protected].
There is a modern day Grinch ripping us off while we sleep.
When Wachovia itemizes our checking account they do not place the withdrawals by the transaction that comes in first, no, but by the highest amount to the smallest amount. I have overdraft protection and I do not mind paying for overdrafts (even though $30.00 seems quite ridiculous for a service performed by a computer). From 11/23/05 to 1/3/5 I was charged $1170.00 when I should have been charged $90.00. This includes $210 for NSF fees which should have been covered. This does not include the penalty payment that these institutions will charge me.
The Wachovia Way How it Should Be
12/27/05 Overdraft 330.00 -672.31 90.00 -402.31
12/27/05 Debit 9.27 -342.31 124.06 -312.31
12/27/05 Debit 18.00 -333.04 112.00 -188.25
12/27/05 Debit 20.00 -315.04 103.97 -76.25
12/27/05 Debit 24.35 -295.04 74.10 27.72
12/27/05 Debit 25.95 -270.69 63.59 101.82
12/27/05 Debit 31.92 -214.74 40.21 165.41
12/27/05 Debit 40.21 -182.82 31.92 205.62
12/27/05 Debit 63.59 -142.61 25.95 237.54
12/27/05 Debit 74.10 -79.02 24.35 263.49
12/27/05 Debit 103.97 -4.92 20.00 287.84
12/27/05 Check 112.00 99.05 18.00 307.84
12/27/05 Check 124.06 211.05 9.27 325.84
12/23/05 Check 11.80 335.11 11.80 335.11
Do all banks operate the same way or is it just Wachovia? What we need is legislation to stop this abuse of the less fortunate that do not have thousands in their account and live from pay check to pay check. We need someone to champion this cause for the people.
CC: king. James. Web@flsenate. Gov
Rep. Pat Patterson
Room 222
230 N. Woodland Blvd
Deland, FL 32720-4257
Rep. William L. Proctor
Suite 2
900 SR 16
St. Augustine, FL 32084
Rep. John L. Mica
1 Florida Park Drive, Suite 100
Palm Coast, FL 32137
As we can see I sent this to a Florida state Senator and to Representatives. No one was a bit interested.
To answer my own question. Bank of America is even worse. They charge $34 for every overdraft.
Again on Feb. 24 I sent channel 6 news the following;
On 1/6 I sent my case to problem solvers about how banks are scamming the poor who live from pay check to pay. They are doing this by the way that they itemize checking accounts. Say someone at Christmas time goes out to buy presents on the weekend and their mortgage payment arrives at the bank at the same time, the bank will itemize from the largest bill to the smallest. So instead of paying for 1 overdraft of $30 you end up paying $30 on a cup of coffee and what ever small purchases that you bought.instead of paying $30 it can run up to hundreds of dollars. This is a fleecing of the poor. Banks act like they are their to help the community but their practices are quiet the contrary.
I hurt my back in a car accident and since then we have been living on one pay check. Our biggest bill in the last few months has been to our bank.
My question to problem solvers is, Is this not a public awareness story? Maybe the question should be How many people are affected by this? Is it right for banks to rip us off like this?
The comment about $30 cup of coffee was told to me by the manager of a self storage company who had it happen to her husband. She told me this as I was explaining why my check bounced and I was paying an extra $25 late fee.
Let me know if this is not of interest.
Thanks,
Luis
I hope that we can get a class action law suit against Wachovia and Bank of America, that way if our wonderful represetatives don't help us out then maybe the judicial system might enforce laws that change this practice.
Luis
Palm Coast, Florida
U.S.A.
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