I have had a checking account with Wachovia for 11 years. In all that time, when my account had insufficient funds, the debit card did not work. On Thursday, June 5th, I got a call from Wachovia, advising me that I was overdrafted by $1200.
They wouldn't tell me who the charges were from, so I went to my local branch and discovered that over $500 were overdraft charges. Even the head teller was baffled that this had happened. The card should have been refused, as it had always been in the past. So was the bank manager, and he tried to have the charges removed. Unfortunately, they could only reduce this by $100.
When my account is in the black again, I will switch banks. And I will warn anyone I can to avoid this bank and its fee scams.
They can't nail you on mortgages, so now they're going to "fee" you to death on your checking.
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