I am writing in like so many others here about the fraudlent practices of Wachovia that earn them fees. I have not gotten anywhere with complaining!
The first complaint is that deposits that are made the same day are entered at midnight, and deposits made after 2 in the branch are entered at midnight the following day, but purchases go through immediately! I also found out that the cut off for deposits at the branch is 2pm and the cut off for deposits made at the ATM is 4pm, by cut off I mean when they change over to the next day's work. They do it this way so that the purchases hit first and they can charge more fees! If they can put purchases through immediately, then why can't they put deposits through immediately!
If credit cards can charge once a month for going over my limit, then why can't the bank charge me one fee for being overdrawn for that one day? I am depositing money into my account to cover the purchases and checks being written, not their fees!
They are just causing me to be even more overdrawn!
In one day, I have have $210 worth of fees for unavailable funds, and apparently there are fees for unavailable funds and there are NSF fees. Huh? What is the difference? Well, they told me that the fee for the unavailable funds is if they pay it even though the funds aren't available, and the NSF fee is if I choose to have them return it unpaid. We can choose whehter they pay the item or not! I figure if I am going to get charged either way, then I might as well have them pay it so that I don't have the hassle of having a returned check.
I have decided that I am going to go back to writing checks for everything I can. This way the merchant cannot hold twice the amount of the purchase, they will just have to wait for the check to clear my bank.
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