Wachovia is has definitely taken overdraft and unavailable funds fees to a new height. I have recently been assessed fees on a "authorization" that caused my account to go below its available balance. This is particularly scary for consumers because so many places will take an authorization that are beyond what you have signed for. Consider when you go out to eat that many resturants place authorizations that exceed 10 percent of the bill. Your hotel or Casino Cruise or even a gas station may place an authorization for more then your actual bill with them. This is because they need to make sure you have available funds for what the transaction could end up being. They can't mind read what your tip will be or how much gas you will pump. Not only will Wachovia charge unavailable funds fees for this item, after the items post to your account you will receive an overdraft fee. They charged me an unavailable funds fee "and" an overdraft fee for the same transaction. 2 fees totaling 70.00 for "1" $4.56 transaction. To me that is Way over the line of excessive.
Even bar tabs may get you in trouble. I run a tab all the time and they will place an authorizaton on the card, but I pay cash when I leave and the authorization is released. Wachovia will still access you fees even though you did not complete a transaction with the merchant. You didn't record it in your bank register, because you paid cash, but now you have 500.00 of overdraft fees because they charge you fees on authorizatons.
I guess they have figured out a legal way to charge you 2 fees for one transaction. 1 fee is called an unavailable funds fee and the other is the overdraft fee. An overdraft with wachovia will cost you 70.00 per transaction.
Beware! You will be accessed fee's for transactions that have been normal in the banking business for years and Wachovia will not reverse these fees on thier own.
05/20 Deposit DEPOSIT 66TH STREET OFFICE 05/19#7710 $100.00 Processing
05/19 Purchase PURCHASE PUBLIX 10801 STARKEY RD 05/18 $45.62 Processing
05/19 Purchase PURCHASE SOU BEST BUY #565 4607 05/18 $53.49 Processing
05/19 ATM WITHDRAWAL STAR NORTHEAST 05/17 $44.00 Processing
05/19 Purchase PURCHASE ALBERTSONS 2004 05/17 $6.18 Processing
05/16 Purchase PURCHASE 7-ELEVEN 26396 05/14 $10.02 $1,005.09
05/16 ATM WITHDRAWAL 05/16 $53.00 $1,015.11
05/16 Other TRNSFR xxxxxxxxxxxx 05/16 $200.00 $1,068.11
05/16 Deposit AUTOMATED CREDIT PAYMENT $1,240.39 $1,268.11
05/15 Check View CHECK 547 $18.00 $27.72
05/15 Check View CHECK 549 $18.00 $45.72
05/14 Purchase PURCHASE HESS 09448 05/13 $6.42 $63.72
05/14 Purchase PURCHASE A-B ADV PARKS SEAS 05/12 $58.72 $70.14
05/14 Purchase PURCHASE PUBLIX 7580 49TH ST N 05/13 $64.77 $128.86
05/14 Deposit TRNSFR xxxxxxxxxxx 05/14 $110.00 $193.63
05/13 Other OVERDRAFT/UNAVAILABLE FUNDS FEE $70.00 $83.63
05/13 ATM WITHDRAWAL ATMD050 05/12 $12.50 $153.63
05/13 Purchase PURCHASE HESS 09448 05/13 $14.86 $166.13
05/12 Purchase PURCHASE PUBLIX #081 05/09 $15.50 $180.99
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