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Wachovia Bank Cranford New Jersey / Overdraft charges

1 Cranford, NJ, United States

My daughter spent more than she had in her account. Three additional checks for small amounts overdrafted. The net result $35 times 4 or $140 in charges for aproximately $100 total in overdrafts. Within a week a deposit cleared and the overdraft fees plus the overage were deducted from the account. However the question is should multiple overdrafts resulting in under $100 or even $ 500 cost $140 in fees ?
One consideration is the cost to borrow $500 for a year at 10 or 20% interest which could be an annual charge of $100 to $200. So why not select some limits on these overdrafts. Is banking so good that they don't need to be marginally realistic ?
My daughter was assisted with one of the $35 charges and required to pay the remaining 3. So we went to our local branch in Cranford and were told once the system had been utilized for one reimbursement, there was no other recourse. The manager claimed his hands were tied. Now I understand that prior history also plays into this but the question still remains, do they need $105 or $140 reimbursement for an total overdraft of $100 that was rectified within a week ?
I think Wachovia Bank in Cranford New Jersey is taking more than is required to make an excellent profit on their cost of maintaining a single customer.

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