I would love to enter a class action lawsuit against Wachovia Bank. First of all not only do they do stacking (entering largest to smallest). I also believe they hold transactions for the longest time possible and post them only when fees will occur. Finally I think they are involved in predatory lending as all accounts have a $100 "float" associated with them - that means Wachovia will not DENY any charge or check or debit even though there are not adequate funds in the account to cover it!
For example, with using your debit card here and there for $3 or $5 or whatever, let's say your match is bad and you think you have $50 in your account - but you don't; you have $0. Wachovia will let you keep spending past $0 all the way to $100 sometimes higher depending on your account. Each transaction costs you $35!!! So if you go to Starbucks and buy a $5 coffee - Wachovia will approve the transaction knowing the funds are not there and then charge you $35 for the convenience. That's like a million percent interest and totally illegal. Here's the really illegal part, you cannot get that $100 float off your account. You used to be able to "opt out" of it (and had to use those exact words) but they are no longer allowing that.
I don't know how they get away with it. Sure, I forget a transaction a time or two. Last year, I probably forgot three or four transactions. Is that a major transgression? Not really for a working mom with a busy schedule. Pay a couple hundred dollars in fees? Hate it, but guess that's what I get for forgetting a few transactions... That would be great - but I paid over $2500 in fees last year because of the way Wachovia hides transactions, stacks them and manages accounts in such a way as to maximize errors and steal money from its customers accounts.
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