I have had similar experiences with Wachovia. I used to be a Suntrust customer, and never had any problems with that company. Wachovia does not post any money taken out of your account in "Available Balance" until the merchant takes out the money, however, they physically take the money out of your account at the time of the transaction.
For instance, if you go to Publix on Thursday night and spend $100, they actually take that money out of your account on Thursday night, but it does not post online until they merchant actually takes the money out. What is the point of the "Available Balance" then? If you try and charge something to your account, and there are unavailable funds, they will charge you an overdraft fee, but that fee does not show up on your account right away.
Suntrust worked very well - if you paid for something on a Thursday night, did not have enough money to pay for it, but had money put in your account the next day, it was fine (as long as there was enough money in your account when the money actually had to be taken out of the account).
Yes, people should keep records of their account activity, but when there are multiple people using accounts, the ONLINE "Available Balance" should be kept updated so others can keep track of the recent occurrences. I recently have had $450 worth of overdraft fees, $350 of which took place within two days. Most of the purchases were $1.99. It is ridiculous to get an overdraft fee of $35 if your purchase only costs $1.99!! They say "only use 'debit' if you want the charges to show up right away online", but they still charge you an overdraft fee if you use 'credit' and there is not enough money in your account at that exact moment... So what is the point of using 'credit' then? It makes no sense.
After hours of being handed to one customer service agent after another, I have almost given up hope. I see no perks for being a customer at Wachovia. I am closing my account and reopening one at Suntrust.
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