Wachovia's new zero tolerance policy on NSF and overdraft fees is unacceptable. I was recently charged four (4) NSF and overdraft fees of $35 each for four (4) transactions. That's $140 in penalties! What's appalling is that each and every item was smaller than the starting balance before this sequence of "hold" and "post" began. One debit transaction (that rightly should have been denied) was on hold while the largest transaction was paid. But also charged a penalty. And leaving the next 3 smaller transactions, about $30 each, to all bounce separately as well, including the one debit that was on hold to cause the first bounce.
I wrote and called several times and all I got was that "these charges were correct, in accordance with our policy." When corporate policy exceeds mathematical possibility, you know that maximizing bank income from NSF ad overdraft fees has become a priority more important than keeping faith in customers. What's worse is that in all this correspondence, no Wachovia rep ever once suggested that I might want to sign up for "overdraft protection."
I, for one, am leaving Wachovia and Wells Fargo. Forever! We all deserve better, including the poor folks who have to work for the corporate geniuses who implement such anti-customer policies. Wachovia Bank, N.A. Can't be trusted with our money!
0 comments