Recently I accrued a total of $155 in overdraft fees. The first overdraft fee was posted before a negative balance was shown. If you add the overdraft fee to the available funds, the next charge would have cleared with money to spare. After contacting Wachovia I was told that this happened because other purchases that were on hold had amounted to a larger sum than the available funds. Three subsequent overdrafts ensued the following day. Realistically, two more should have occurred based on the sequence of purchases. I say two more because of the largest to smallest processing these banks are allowed to conduct. Otherwise one would be what I was giulty of.
A class action seems like one option but based on my research of this situation writing in to your local, state and federal level Representatives may also wield some action. Given the fact this is an election year, and big business is the target for the Democratic Partys platform it is worth a try. You should also post your story wherever it will be read. Some consumer sites allows you to file complaints viewable by lawyers that will review and decide whether they want to engage in a class action suit. You may not get your moneys worth, but It is possible that the negative press will affect their public trading value and cost them SO MUCH MORE than they have cost you. Lastly, change you bank! Because without action on your part, nothing will ever change.
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