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Wachovia Bank / overdraft fees

1 NC, United States Review updated:

I made 4 purchases with my debit card with available funds. Wachovia put those funds on hold then charged me $35 overdraft fee for each transaction when it posted.

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  • Ry
      30th of Jul, 2008
    0 Votes

    Same thing happened to me. I am being charged $140 on 2 separate occasions when I had the available funds in the bank. Funny thing is, they can't show or say what went overdraft.

  • Mi
      8th of Aug, 2008
    0 Votes

    I've been paying about $140 a week for their FREE checking. Wachovia is by far the worst bank on earth. They charge me overdraft fees on every other purchase even though I have plenty of money in my account.

  • Ko
      9th of Aug, 2008
    0 Votes

    This bank "Wachovia" is a joke!!! I deposit cash and have to wait 2-3 days for it to post. WHAT??? not once EVERYTIME. They are also rude (tellers, call center and way understaffed). I live in ATL. and waited for 35 min.'s on lunch brake in the drive throuhg with ONE car ahead of me. 15 min.'s on them and 20min.'s on me for a deposit (one check deposit).

  • He
      9th of Aug, 2008
    0 Votes

    They are SOOOOOOOOOOOOOO RUDE and don't think they will every do extra for you. They make me feel like I should be luck to have them as my bank. By far worst bank ever Wachovia Bank!

  • Rl
      31st of Dec, 2008
    0 Votes

    Wachovia holds funds from available fees based on check card purchases not yet cleared. In effect covering those transactions by taking the money from you.
    Should a transaction, such as a forgotten check or gasoline purchase, hit the account for larger than what's left after the money for the debit card purchases is taken, Wachovia charges an overdraft fee. Okay I get that, the mistake was made, there weren't the available funds to cover the item, the account is charged for the overdraft and available funds are now in the minus. But that minus also includes the money that was taken to cover the debit card purchases.
    Now, if the amount of that forgotten transaction plus the overdraft fees exceed the total of the withheld funds, when those transaction post Wachovia charges an overdraft fee for each of them as well; even though that money was already taken from you to cover those particular items.
    In essence, you are being charged overdraft for transactions that have already been accounted for. The bank took those funds that cover them from your money then charges you overdraft fees because of them, the charges overdraft for that accounted for money because all the fees took your balance too low.
    I do not understand how this practice is allowed. There should really be a class action lawsuit against them. The practice punishes those who have little money left over paycheck to paycheck and simply made a mistake in accounting.

  • Pa
      6th of Jun, 2009
    0 Votes

    I am a 25 year old full time worker and full time student, I take great care in my finaces and making sure I do not over draw on my accounts, so how did i end up loosing two weeks pay to wachovia...

    I understand how banks work, i understand that if you deposit a check it usually does not clear until the next buisness day however i was under the understanding that depositing cash was automatically available and since my employer also uses wachovia i made what i thought was an intellegent choice and i decided to always cash my paychecks and deposit them as cash so the money would be there as needed. On one particular friday i went to the bank on my break from work when i got there everyone who just recieved their stimulus checks were in line there were 6 0r 7 cars in every line and the inside line was out the door i was forced to leave and return later because i only have a 20 min break from work so i came back at 4 when i was off of work cashed my check and deposited cash to my checking account. i dont like carrying cash on me i choose to use my debit card everywhere i go i feel safer not having any actual cash in my purse so, i spent my weekend as usual went to a ouple different places bought small items and used my card to purchase them. on monday when i went to work i logged online to check my bank statement and to my dismay my account was - 400.00 i thought it was an error i asked my employer if i could run to the bank quick and see what the problem was. when i arrived at the bank they explained to me that even though it was cash i could not use my debit card at a store however i could have taken cash out of the atm and i would have been fine so every little purchase i made that weekend totaling $187.00 took my account from 350 dollars to neg almost 400 dollars i was so embaressed i lost every penny i had and then some not only could i not afford to live the rest of that week i had to beg my employer to advance my next weeks py check to me to cover the overdarft fees so they would not continue to rise everyday i was left with nothing for two weeks and after being a customer with wachovia for a few years they did not offer to waive any of the fees or help in any other way they said coldly and simplely i should have read the fine print better.

  • Mg
      13th of Aug, 2009
    0 Votes

    I agree... I think Wachovia takes a lot of time to make sure they post things in the perfect order for them to get the most fees. I don't even understand why I was just charged an NSF fee for a check for $282, however I have nearly $800 in the account?? And when I call them, they give me some really long explanation that just frustrates me and confuses me even more. Look, I understand I make mistakes, I like many, live paycheck to paycheck and I am also guilty of not always doing a good job at recording everything. However, I'll never understand how they can hold funds when you use your card, so those funds are no longer available... that makes sense, but then when they "post" those charges a few days later they figure out a way to charge you fees for it. Whatever, like I said their explanations just make it more confusing for me. I don't put all the blame on them, I realize I need to share the blame, but like I said... I think they go out of their way to post things in order for them to make the most fees. I just plan on banking elsewhere once I know everything has cleared my Wachovia account.

  • St
      20th of Aug, 2009
    0 Votes

    My husband deposited $500.00 cash into his Wachovia account and proceded to use his card. Every transaction was an overdraft which resulted in about $600.00 worth of fees. He was told that his cash was not readily available, he needed to wait two days. He has spoken to several bank officers, and one even agreed with him and said that should never have happened, but they will not refund his money Help!!!

  • Ov
      28th of Aug, 2009
    0 Votes

    Get Bank of America - despite me not liking these Oligopolies, at least the post your money up on the same day.

    Wachovia is absolutely garbage when it comes to posting your money & overdrafting your account. Stuff you charged a week ago finally posts and posts after something you charged yesterday. Its ridiculous.

    You need to take control of the conversation when you call up. First step is to be the kind, but upset person who just wants the issue taken care of. Don't let them give you an ounce of ###, they work for you, not the other way around - always get their name & employee ID #. If they do try and give you ### or blow you off telling you nothing can be done, tell them that you want to speak with their supervisor. Make sure you always start off kind, regardless of whom you speak to. The charges will be removed - but if they can only do one or two of them, and refuse to budge - then allow them to do it. Then, at least, you can take your claim to a local bank. Handle as much as you can over the phone though.

    If it resorts to you going to the bank after some or all of the charges are left over - take the same approach at the bank. The best way out is to explain to them that the charge was supposed to go onto another card, but they used the one on record. Or in the case of the 2-3 day deposit lag (which happened with cash at a Wachovia, the [censored]s) call it in, fix all you can, but if you have to go to the bank - just explain to them the issue - pointing out that a cash deposit should be effective immediately. Thats how it is done every bank you have been using since the beginning of time.

    Over the phone, never make it personal - they are paid to say "no". They follow scripts of how to say "no", "sorry", "I cannot" or "we can't". They are watched over, compassion sets off radars and they are thrown out of thier cubicles into the dungeons below their Bangladesh bank offices.

    In the brick-and-mortar bank office, make sure you take the perspective that "I was told they were going to take care of ALL of this over the phone" and "they were going to remove ALL of the charges".

    I've given enough of my tax dollars to bail out the banks, the garbage automakers, the healthcare industry, and well the other 800 billion dollar, 800 page, non-read, "stimulus" package. I'm not about to let them dictate to me. We own them - they hold our money & make money off of it. Its all paper anyhow - they just transfer assets around, outsource jobs, and steal everything they can from hard-working Americans.

    Oh well, this is where everything is headed, isn't it.

    Don't let anyone push you around. You are the customer - you are always right.

  • Br
      3rd of Sep, 2009
    0 Votes

    A few years ago, my son was 18 when he went away to school in another state. He purchased gas for his car using his Wachovia debit card and the gas station held more than the purchased amount. He did not know that the gas station would do this. He then purchased another item and he was three (3) cents overdrawn on his account. Wachovia used the overdraft. I had already called the week before to cancel the overdraft option on his card. Wachovia is charging him $40 for a three cent overdraft. My son never used the card or this bank again. This has gone to collection and it is now on his credit report...all for three cents. Since the overdraft was removed, the purchased should have been denied.

    I do not know how to fix his credit report's a mess for him to try to get another credit card at this point and his credit is now ruined. Can anyone help? He would be more than happy to pay the three cents but not $40. He is a full time student and does not work so he has no income at this time.

  • Ir
      14th of Sep, 2009
    0 Votes

    wachovia bank started charging me nsf fees when i had enough money in the bank to pay the check for which they were charging me the overdraft fees for. they are stealing right out in the open and nobody is stopping them. i have gotten an attorney because trying to talk to wachovia is like talking to a wall. they offer to refund as a courtesy some of your nsf fees. i want all of them back i had enough in my account to pay for these. i have since quit putting money in the account and let all checks bounce because i did nothing to create the overdraft fees.

  • Su
      9th of Dec, 2009
    0 Votes

    i just got off phone with wachovia after being hit with $210 overdraft charge :( first 2 people i spoke to could not even help me because they too like myself could not figure out what caused the overdraft in first place as no where on the statement it shows that i ever went negative before the overdraft fee was taken off i actually had enough to cover first overdraft fee...???

    anyway their final word was that they can give me 10% refund (= $21) as courtesy!!! i said no thanks!!!
    i was also told to go to the branch and sit down with someone and learn how to use the checking account more effectively!!!

    i found out that if they receive multiple charges in 1 one day they will pay greatest amount first so if you have $500 in your account and you wrote a check for $499.01 few days ago and that come through then you use your debit card for 5x$1 transaction they will pay the check first then pay for 5x$1 transactions instead of declining those 5 charges since you do not have enough to cover them then you will be hit with 5x$35 for overdraft charges

    i never lost my cool and was very polite with everyone i spoke to but they were heartless... im trying to make myself feel better by saying that they were just doing their job but knowing that half of my next pay check will only cover the amount i am over draft really hurts especially because it will be the last check before xmas and i fell terrible for my kids that their mom is so helpless :'(

    i wish banks decline transactions if you do not have enough to cover the charges and also i wish they credit your account on the day you make deposit especially when you deposit cash

    i also wish they were more forgiving to their customers as our government and we were to them when they were struggling...

    God bless you all and i wish everyone who is financially struggling as myself will stay strong
    lets look for other things to be thankful for as i am very thankful that everyone in my family is healthy and happy in general :)

  • Ch
      29th of Dec, 2009
    0 Votes

    All time worst bank in history. I had checked my balance on line and

  • Ch
      29th of Dec, 2009
    0 Votes

    All time worst bank in history. They find a way to charge u a fee. I called three times and talked to a rep and they said that my money was available. Well if the money on hold is not used by the merchant they refund it to you and u think u have more in your account then what you really have. So then when u go to pay bills bam u dont have the money u thought u had. Then they hit u with a 35 dollar fee for every transaction. I could see if they tell you that holds could be deposited back in your acct but they keep it a secret or the reps just dont undrstand it either. Im done with this bank.

  • Br
      5th of Jan, 2010
    0 Votes

    I had two echecks debited from my checking account in SOMEONE ELSE'S NAME. The second one caused an overdraft fee. If those two unauthorized debits from my account had not been made I would have had sufficent funds to cover another debit which also caused another overdraft fee. They refused to reimburse my account because they claimed they sent me a letter THAT I NEVER RECIEVED telling me to close the account.

  • Fa
      26th of Jan, 2010
    0 Votes

    careful some states allow criminal prosecution for knowingly writing bad checks.

  • Ch
      19th of Mar, 2010
    0 Votes


  • Te
      16th of May, 2010
    0 Votes

    I closed my bank acount with wachovia, because 1. They charged me an overdraft fee, yet I had sufficient funds to cover my transactions. 2. Because they charged me an overdraft fee, it affected a credit card payment, that I ended up owing 85.00 in nsfunds, because of wachovias "mistake. and in the process ruined my credit. I am seriously considering suing wachovia.

  • St
      8th of Sep, 2010
    0 Votes

    I put $ 1000.00 cash in my account, used my debit card that night, one week later, was hit with 9 overdraft fees @ $276.00, fought with the bank, was given back $100.00, contacted everybody all the way up to wells fargo, they still owe me $176.00 . I went to a different bank, no more debit cards. dont try to cash a money order that says wells fargo on the top at wachovia, because they wont. now I have a real hard time cashing a check at wachovia when its their own check. I want my money back!

  • Sm
      10th of Sep, 2010
    0 Votes

    I have been banking with several banks for over 40 years, all over the world. When it comes to charging fees to its customers, Wachovia is by far the worst bank I ever dealt with. While most other banks show debits (ie from debit cards) instantly on your online account or balance, Wachovia takes anywhere from 24 to 48 hours. That includes charges made on your debit card by vendors who have your card on file with you not knowing that a charge may or has occured. Subsequently, you may find your account negative by a few dollars, and the very same second Wachovia will debit you their $35 overdraft charge - on a debit card charge they could easily deny! Or on their own fees! It's a great scam by a bank that claims to be helping its customers. Unless you plan to have enough money in your account at all times, stay away from Wachovia!

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