Wachovia Corp Complaint - Wachovia Holding Deposit
DULUTH, GEORGIA -- I have just joined Wachivia and am a new customer. Today I deposited a check in my account from Regions Bank locally. When I made the deposit the computer not the teller put a hold on it until February 20th. The teller was nice and apologized and said I could take it down the street and deposit cash but I said is ok as it was actually my first deposit and no rush. After thinking about I got home and checked my account knowing the hold would at least show up as a transaction. It shows no deposit for today at all. I have the deposit slip where the funds were sent in and on it states Amount Held and Date available which is almost 7 days. An additional account has been open for less than 30 day calendar days. That is fine to put a hold, I have no problem with that except it is a check drawn on a local bank and worst of all the Wachovia online does not show the deposit transaction took place. That is the reason for my dissatisfaction and also wanted to warn other newbies of this practice. I am keeping records of these transactions and if something happens will be prepared to bring it to my state representatives attention.
With the new check laws they should know almost immediately if the funds are good. Anyway, I just think it is bad business especially for banks these days.