One day, I made a counter withdrawal from Wachovia which they paid to me, meanwhile a series of checks, bill payments and other items were simultaneously being paid at the same time. Unlike HSBC where now I have a relationship manager and they communicate with me most regularly about transactions. Again I complained to Customer Service and the Office of the Currency Controller.Įvery answer you receive from Wachovia Customer Service is purely a computer generated response, they never EVER holistically look at your account or your relationship with the Bank. It took over 6 weeks to have the HOLD removed from the account and the funds released. I could not believe that the bank I banked with and started the relationship with would do such a thing, sure take the claim amount, but 2.5 times that amount was a huge sum. Wachovia said they HOLD additional monies from accounts to ensure any additional claims or costs are made by the plaintiff and the Court that these will be covered by the HOLD. Sometime ago I had a judgment against myself and my business partner, as a result of the claim by the plaintiff, which was valid and had already been paid by us after the court hearing, yet not notarized by the Court Officers I found a HOLD against my account of 2.5 times the judgment account. Most other banks would just return the checks/items and not overdraw your account and charge you a fee. I was asked by Wachovia when I questioned why they paid these items if there was insufficient funds in the account, they asked me why did I write the checks/items in the first place if I did not want them paid. They automatically just drew the account over the balance at their own determination and then charged me over $350 in NSF charges. I note here for other consumers, I never had a overdraft protection line on my checking account with Wachovia. In their Agreement with Clients, it notes that Wachovia at its discretion can determine whether or not to pay items presented to the account for payment or to return them. Their daily reconciliation system pays out the larger items presented against the account first then the smaller ones when the balance is going to be overdrawn or returned. When the account is drawn over balance and they pay the payments/checks then they charge you $35 NSF. BEWARE! Their bill payment service does not detail enough information to inform clients how the transactions will be withdraw from the account and when. They claim they have the best customer service in the country. NEW YORK, NEW YORK - Wachovia is probably the most aggressive fee charging bank in North America.
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