I deposited CASH into my account. I asked the teller would the cash be available immediately, she said YES cash is immediately available. I double checked my account before I paid my power bill, and yes my available balance included my cash deposits. So I paid my power bill and that money went into hold. So my available balance was then deducted by that amount. I check my account today to find out that I have been charged $140.00 for four overdrafts.
I called and was told the cash is not available in my account until Monday. I told them that I was told yesterday it would be AND it was in my available balance. He told me that that was my available balance as of Monday. I explained that I am not an idiot, and I am looking at it right now and as of today (Saturday) my available includes my cash deposits, my holds, and the overdraft charges. He then tells me that yes it is in the available balance, but it isn't available until Monday and that because I had holds pending, charges posted on my account last night were subject to overdraft fees.
I advised him that makes absolutely no sense, if I deposit a check it does not show in my available until it is available, why then does cash show as being available, but it really isn't. He said there was nothing he could do about it, and he could not refund any of the money. After that I called the branch that is open on Saturday, because I didn't have time to get there before they closed. I asked the woman if she knew anything about depositing cash, and it showing available, but it isn't really available? She advised cash shows as an immediate credit, but not really. I told her that I was charged 140.00 in fees because it was showing available to me, she said oh, i hate to hear that, I just hung up.
If the Cash deposits are not immediately available then why do the tellers tell you they are, and the money is showing available??? Why is the cash including in the available balance not really available, but yet holds pending after the cash is available really are deducted. I could see if the cash was not available, or even if the money was on hold before the cash deposited... I could have just as easily waited to pay the bill or took that cash out of my deposit and paid the bill in cash.
I have only had one other issue for this account, I bounced an 11.00 check. I had put the 11.00 in the account to cover the check, but Wachovia had charged a fee, which left me with less than 11.00. Between the check and the fee from the person I bounced the check with I suffered 3 overdraft charges from Wachovia. I didn't complain about it though, it was my fault for not keeping a closer eye on my account. I didn't ask for a refund of the three charges, I sucked it up and ended up paying almost 100.00 for an 11.00 check.
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