Wachovia Corp Informative - Slow to post transactions past several months/maximizes their possible O/draft fees
ATLANTA, GEORGIA -- I have for the first time in a l-o-n-g time twice recently gotten overdraft fees. Unfortunately, due to hugh, long term medical expenses for 2 relatives, my savings exhausted and no cushion. They were really nice while I had the savings in their instutution. At a time most are enjoying their retirement, I am back at work trying to get finances back in order. They are now no help. Overdraft fee for $2-3 that never even showed up as a negative (caused by a Chevron gasoline purchase on bank card that was so long - weeks - posting, that I had forgotten about it.
Our Congress passed legislation to help credit card crisis, but delayed implimentation of it to give the cc companies time to raise interest, lower limits adversly impacting credit scores on everyone - even folks who never miss a payment. So I do not expect they will do anything really helpful about banks that have computer program designed to maximize their fees.
Of late, I have noticed that it is no longer safe to do online banking to figure out balances. It was no problem until the past approx 6 months. I have noticed items that normally post overnight are no longer doing that: online bill pay, check cashed at the teller window, etc. In this day when everyone wants you to do paperless billing/banking/paying, I am going back to the paper ledger for banking that should not be necessary. I know it is better practice - do not lecture me - life just gets in the way of a lot of "good practices" and the notes I make myself worked just fine until the past 6 months. Something has changed with Wachovia that they are not posting items as quickly.
I am taking our local consumer advocate advice and saying goodby to the large no-service mega banks. I am shopping around at the smaller local banks or most probably I will go with a federal credit union.
Enuf of Wachovia/Wells Fargo and their rude managers who do not even return calls except during the hours that you tell them you will be away from home - then "in a conference" if you happen to catch them in the bank. Perhaps it is the change to Wells Fargo involvement that has resulted in these changes? Goodby Wachovia/Wells....I will miss you...NOT!