Years ago when the Debit card was introduced along with online banking, it was billed and sold as the end of the old way of doing business with checks etc. The bank was telling the truth - just not the way the consumer thought...
I too have been a victim of many fees from Wachovia, and for those of you who want us morons - this moron has paid more in taxes than most of you earn - you could have 20 debits through a weekend, and on each occasion Wachovia would lower your Available balance, in effect taking this money from your account. You can see it.
Then, an automated debit comes in, maybe you forgot it, it was a day early, or maybe you were off by 25 cents - they run the debit through first, and create 20 overdrafts at 35 each, for $700 in quick fees, when by most any common sense measure, they should have paid in the order they received them... But they don't over the weekend, they are batch processed, and this is why Debit Cards are great for the bank!
If I am mugged on the street tonight, the robber's will get $20. It takes a bank, hiding behind outrageous TOS and fine print no one reads, to take $700 in a weekend.
Wachovia has also charged my children $35.00 for overdrafts under $1.00. These are usually refunded when pressed, though BOA has reduced their ODfee to $10 for minor overdrafts.
I'll join a Class Action, but a Congressional oversight committee on C Span would do the job just like ti did on outrageous Credit Card charges..
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