Wachovia is insane. They will manipulate the way you spend your money in any way to increase their profits in overdraft fees. You could go over ONE CENT and they could still be able to STEAL over a hundred dollars from you in overdraft fees. I could explain, IF it made sense when they told me. They basically put charges on hold until your funds are low... ON PURPOSE! They make it seem like it makes sense but it is not logical. They do what ever they have to do to make your account deemed as overdrafted. I would hate even being that person having to explain why you are being screwed. I believe they have had to explain it so much that it just second nature to them and they spit it out like those automated machines that you can't ask questions to.
They will use any way to maximize their profits. One thing they did to me that I have noticed happened to a lot of people is that they will take out the larger purchases first (to deem the account OD'd) before the smaller ones just so they can charge you x amount of times on each purchase for OD charges even if you made the larger purchase after the small purchases. Say you you had 100 dollars in your account. You make 8 purchases. Say one of the purchases is 80 dollars, 2 were 11 dollar purchases and the rest were ONE dollar purchases. Thats ONLY 7 dollars over. Say you make the smaller purchases first. Well, how they are going to screw you is put the smaller purchases on hold. They will take out the bigger stuff first to make your account go bust as soon as they can. First they will take out the 3 biggest charges. This will deem your account OD'd. Now its time for them to make their move. When they take the smaller purchases off of being held, given the scenario, you will then be charged a GRAND TOTAL of TWO HUNDRED AND TEN DOLLARS. This should be ILLEGAL. GRRRRR! This angers me!
Also, it is almost like they will hold off on taking certain purchases out of your account until "the red flag" goes up telling them that your account is low. One example is that they just took out a purchase on my account that was made 5 MONTHS ago on a debit card which incidentally made me OD. I contacted the company about it and they said that they had already taken the money a few days after the purchase. The bank says they must be lying. Hmmm, I wonder whats going on here.
One more thing is this has only happened to me once (Because I keep my own records now) but what I have noticed is that every time this has happened, they process EVERYTHING at once. This includes all the OD charges, older purchases along with the fact that it is right before my pay day. It's almost like they knew that their OD charges were going to be paid for so they didn't even show me my account was even overdrawn until they racked up a decent amount of OD fees. (keep in mind that i only went over 49 cents) This was the bigger purchase, meanwhile the smaller ones were "processing". I ended paying $140 in OD fees for going over 49 cents! I really do not get this.
I'm not saying that it is a conspiracy but one thing I have learned is that you better keep a strict log of all your purchases or perhaps take out just cash because they will screw you if you let them. Also, their online banking is a joke. NEVER depend on that. DOWN WITH WACHOVIA
Anyway, just getting some steam off.
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