Wachovia Bank
Largest Debit Paid First: Over $500 in Fees for $1.32 Overdraft
- 11-13-2008
- 14
I was told by a Wachovia Customer Service Representative that they pay the largest debit first, rather than paying them in the order they are received (which is a complete change from their original policy of paying in order of debit card use). I have been injured and out of work for several months, so money is particularly tight. I was charged in excess of $500 for the bank to pay less than $100 in debit charges for me, and the amount that I was overdrawn was originally $1.32. They paid the largest item rather out of order rather than paying the small items which caused many overdrafts. Consumers should know that debit overdrafts are a four billion dollar industry each year for the banks. They want your money, there is no doubt about it.
Company: Wachovia Bank
Country: USA
State: Georgia
City: Atlanta
Site: wachovia.com