I keep a tight checking account. I made a deposit after the cut off time of 4pm through the wachovia atm at the branch. After making the deposit, the available credit rises the first $100.00 of the deposit. So in other words if you have $100.00 already in the bank, you make a deposit of $500.00 through the atm; just after the deposit you check your balance; the available amount of funds increases to $200.00.
After which, if you use your debit or make a check card purchase and the transaction goes over the $100.00, but less than $200.00, they send the transaction in overdraft and charge a fee. If you just get cash out of the atm less than $200.00 there is no overdraft charge.
When a debit is made, the internet shows the posting date as the next day, not the day of the transaction, yet they still put the account in overdraft. Check card purchase are just put on hold and the posting date is not available.
How can this be legal. If they are not going to allow the funds to be used they need not to allow them to be available or have some statement showing that the funds available are only available through the atm, maybe on the receipt. This seems like a bait and switch type thing, where they make the funds appear to be available, but when the customer tries to use them, other at the atm, they send the transaction to overdraft, they don't decline the transaction, they just charge the $22 or whatever overdraft fee. This caused two transactions of mine to go into overdraft, when I called and asked for the refund of fee, they agreed to give half back, but this is not good enough. But for now, I have not been able to get the other half of the fees.
No telling how many customers are having the same issue and are being charge fees like this. I am not sure how this can be legal because it seems to be deceptive.
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