Wachovia Bank Complaint - Poor And Incompetent Banking And Securities Services
FLORIDA -- For three years Wachovia charged my account service charges that they were not entitled to charge under their own terms of service and when confronted they only refunded the fees after I threatened to remove a significant amount of deposits. Since then they have done similar things several times. In the most recent series of incidents I tried to get information on deferred mutual funds sales charges so I could sell some stock out of my IRA and did get a hold of my financial adviser only after numerous phone calls.
However, I never got the information I requested despite calling both my financial adviser and assistant over ten times over a week long period. I never could get him to answer his telephone and as a result lost significant money in the recent market downturn. When threatened with a lawsuit about this matter they have failed to provide me with a final statement despite lying about their intention to provide it numerous times. In their most recent misconduct they again improperly tried to charge me a thirty dollar minimum balance fee despite the fact that I have over $20,000 on deposit with them.
Since these incidents are continual it seems clear based upon my experiences and other postings that their claim that they provide great customer service is simply a blatant fabrication. I am in the process of transferring all my IRA's and banking to another firm which has at least some idea of what true customer service involves.