I currently have a complaint against Wachovia for the manner in which they apply overdraft fees. I had two checks cleared with a small positive balance and then had three small debit transactions posted which overdrew my account. I was charged $175.00 or 5 overdraft fees for these transactions. The bank says it is because of debit card holds which had not been posted. The holds were not posted for 7 days and I have found that the funds are not paid by the bank until the transactions are posted.
I have also found that there is not a uniform policy on returning these fees and that their practices may be discriminatory. I was told by my local banker that the funds could not be refunded because it was "company policy". I then called customer service and had a 50% credit applied when I stated that I was going to file a law suit. I have asked to see the corporate policy and there is nothing forthcoming. I would like to work to put together a class action suit against all Bank. Anyone who would be interested in joining please let me know. I am going to start by filing a suit against the bank in small claims court.
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