This is my story and my actions
I will gladly join others in legal action against Wachovia Bank!
The table below is from my Wachovia account register and details my frustration with Wachovia Bank:
Please note: The Unavailable Funds Fee of $217.00
This equals Wachovia's unavailable funds fee of $31.00 multiplied by the number of purchases finalized on 08/16/04
$31.00 x 6 = $217.00
Also: Please note the chronological order of these transactions (this table is just how it is shown on my statement)
And the date when the first negative dollar amount was entered (once again by Wachovia)
I agree that I should pay one fee of $31.00 but not $217.00 just because Wachovia decided that the order in which these transactions actually occurred does not matter! One of Wachovia's supervisers even told me that if I had made the purchase at Allentown Mazda the next morning (08/17/04) instead of at 6pm on 08/16/04, then the previous business day would have been considered as Monday instead of the Friday prior, and the $217.00 fee would have been avoided!!! Come On... That's Crazy!!! Their computers must be programmed to figure out how Wachovia can make the most money in applied fees every night when the daily transactions are processed!!!
Date transaction name & date (mm/dd) $ amount balance finalized
08/17/04 purchase allentown mazda *08/16 $1,415.52 $-436.64
08/16/04 unavailable funds fee $217.00 $978.88
08/16/04 purchase * 08/15 $7.20 $1,195.88 08/16/04 purchase * 08/13 $8.00 $1,203.08
08/16/04 purchase * 08/13 $20.00 $1,211.08
08/16/04 miscellaneous fee $1.50 $1,231.08
08/16/04 withdrawal * 08/15 $30.00 $1,232.58
08/16/04 purchase * 08/14 $31.79 $1,262.58
08/16/04 purchase * 08/13 $35.16 $1,294.37
08/16/04 purchase * 08/13 $491.36 $1,329.53
(sorry about the reverse order of the following emails)
8/20/04
Dear Natalie D. And to whom ever else this concerns,
I understand all about the holding of funds and the duration of time transactions take to be "totally" processed.
What I am VERY upset about is the following:
All of the transactions dated by Wachovia on 8/16/04 (as "totally" processed) that were posted before the transaction from Allentown Mazda (8/16/04) are documented with dates of PURCHASES ranging from 8/13/04 - 8/15/04. The date of PURCHASE at Allentown Mazda is documented as 8/16/04, and was "totally processed" by Wachovia with a documented date of 8/17/04.
As evidenced by my checking account statement provided to me by Wachovia, this is documented proof of the chronological order in which all of these transactions were BOTH initially purchased (by myself) AND THEN completely processed by Wachovia. After the transactions (documented on my statement before the Allentown Mazda purchase) were each completely processed, the balance (as evidenced on my statement) was in EXCESS of a POSITIVE $1000.00.
This POSITIVE balance is written proof that my account was NOT overdrawn by these said purchases. Yes it is true that the purchase at Allentown Mazda is also documented as 8/16/04, however chronologically speaking it is this Allentown Mazda purchase that FIRST overdrew my account. This documented proof will hold up as "hard" evidence in any courtroom.
So unless Wachovia has DOCUMENTED proof otherwise, I would truly appreciate the $217.00 fee to be immediately refunded back to my checking account. A copy of this letter has already been sent to ALL of the following:
The Better Business Bureau
The Federal Trade Commission
The Attorney General (both NC & PA)
Consumer Affairs
As well as to Wachovia's Pennsylvania CEO
Thank you very much for your time, and I hope to hear from you soon.
Sincerely,
*
P.S.
If you go to the website:
usacomplaints.com
and search under Wachovia, you will see that I AM NOT ALONE!!!
Previous email communications:
From: [email protected]
Date: 08-20 *
Subject: RE: Your recent communication
Message:
Thank you for contacting Wachovia.
I apologize for the delay in responding to your e-mail.
This message is in response to your recent communication which was received on 08/18 and assigned Case ID *.
I have received your recent inquiry on the fees charged to the Wachovia At Work Checking account on 08/16. I have reviewed your account profile, and you have already spoken with another Wachovia Representative on 08/19.
Based on your conversation and the notes documented on your account profile, the unavailable funds fee has been explained to you, and another Wachovia Representative is assisting you with establishing overdraft protection.
Once a Check Card purchase is authorized, the funds are placed on hold until the merchant sends in valid documentation of the purchase. After a merchant sends in the required documentation, which is usually within three business days, the transaction is posted to your account.
In accordance with Visa regulations, once a Check Card purchase is authorized, Wachovia is required to place the funds on hold. A Visa card authorization represents guaranteed funds to a merchant.
I value your business as a Wachovia customer and look forward to continuing to serve your financial needs. If you have additional questions or concerns please contact us via e-mail or call 800-WACHOVIA (922-4684). Representatives are available to assist you 24 hours a day, seven days a week.
Sincerely,
Natalie D
I wrote on 08/18:
I am VERY overdrawn on my checking account mostly due to an:
UNAVAILABLE FUNDS FEE = $217.00
charged to my account on 8/16/04.
This is a very excessive fee...
Is this a mistake?
Thank you very much for your time.
Sincerely,
*
Josh
Do Not Bank At Wachovia, Pennsylvania
U.S.A.
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