Wachovia Bank
NSF Fees on Cash Withdrawals and Debit Purchases Posted First

Wachovia needs to revamp their computer system. You will get a different story from each customer service rep but most of them will tell you that the system posts the highest first. This does not make sense especially when some transactions are actually debit purchases or cash withdrawals at an ATM. Why are you paying $31.00 nsf's on cash withdrawals.

I understood debit purchases to be like cash. Meaning, these transactions should have been deducted from the available balance. The checks that post do not clear until midnight so whatever the balance was at that time should have been applied. Instead, the cash withdrawal and the debits are factored back into the balance. And now the check is deducted first and the two transactions that were made earlier in the day post after. How and why is beyond me.

If you have 20.00 in your cookie jar and you take away 10.00... You now have 10.00 available. You now need 20.00 and the cookie jar only has 10.00. Similar to a credit purchase. The 20.00 credit would be applied and you would then be overdrawn by 10.00. You will pay an nsf on the 20.00 credit because your cookie jar only had 10.00 in it. You should not have to pay another nsf on the 10.00 that was already gone. The same difference. The balance is 10.00 and not 20.00.

Charging NSF fees for cash withdrawals and debit purchases is unfair.

Company: Wachovia Bank
Country: USA
State: North Carolina
City: Charlotte
Phone: 8009224684

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