Wachovia
$142 Loan Payment Pulled From Father's Business Account

My family had been long-time customers of Southtrust Bank before it was bought out by Wachovia. We stayed at Wachovia and assumed their level of customer service would be the same as Southtrust. Wrong!

My father co-signed on a signature loan for me shortly after I moved to Florida. Every payment was made on time, either in person or over the phone. All of a sudden he noticed that $142 had been taken out of his business checking account and applied toward the loan. He went to his local branch to see if I had been late making a payment. It showed every single payment was on time. He asked the loan manager why funds had been taken out of his business account (without his permission) on a loan that was in good standing. The loan manager couldn't give him a straight answer, nor would she transfer the money back to his business account. According to her, all payments on loans are permanent and can not be revoked. WTF? A couple months later they did the same thing. Neither time could they give him a reason for transferring his money out.

We paid the loan off in full the next day (over $3,100) and were given a receipt showing the full amount. The next month they pulled $225 out of my savings account and applied it to this loan. I called Wachovia Customer Service and asked them why they were taking money out of my account to put toward a paid off loan. The rep put me on hold for over 20 minutes and when she came back on the line she said that I would have to speak to someone in a different department. I spoke to 4 different people and no one could tell me why they took my money, but they all said that payments toward a loan could not be reversed. It was already paid off!

It's been over a year and I still don't have my $255 back. Wachovia should be renamed Walk-All-Over-You!

Company: Wachovia
Country: USA
Site: wachovia.com

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