Like dozens of postings I've seen on the web tonight, I have been dinged unnecessarily by Wachovia. Yes, I allowed the account to be over drawn, but Wachovia's policy of posting the largest to the smallest amount has resulted in $695 in overdraft charges in the last 10 days - despite numerous deposits made to try to correct the problem. It started with a single bad day in which 10 items were posted to the account. Had they been posted from smallest to largest, all would have been covered, except the largest one. Instead, Wachovia posted the largest to the smallest, resulting in $360 worth of charges in one day!

Two days later, my direct deposit went in, and was reduced by nearly $900 in overdraft charges and fees paid. Yet, if Wachovia had simply posted the first days debits from smallest to largest, then my night mare would have been over. Instead, I find myself still $291 overdrawn, with a total of $675 in fees charged - when if they had posted smallest to largest, I would have $327 in the account.

We have spoken with the local branch manager, who spoke with someone in Charlotte at the headquarters. Wachovia has generously agreed to refund $90 tonight and $90 in the morning of the nearly $700 in fees they have charged me! Thanks, but no thanks. I would much rather find only a small number of others who have been in a similar situation with Wachovia, and file a class action lawsuit, based on Wachovia's violation of the TILA. Their practices are nothing more than a fraudulent 'loansharking' operation.

Representative Maloney introduced House Bill 3449 last congressional term, which would seek to outlaw these types of practices, which clearly indicates that despite the spin produced by Robert in many of the rebuttals, that the time to act is now! It is time these large banks stopped taking advantage of good, loyal customers who make a simple mistake.

Additionally, similar class action suits against Bank of America and Wells Fargo have been settled, without a trial, for $1 billion and $24 million respectively. Clearly the banks are aware they are breaking the law, and willing to pay huge sums of monies in a settlement, rather than being found guilty in a court of law, and therefore be forced to change their practices.

If anyone is interested in joining me in this class action suit, please feel free to post a response in this forum. If there is enough interest, I will take the lead and retain an attorney. Clearly, in order for a class action suit to be effective, the more people participating, the better.

Additionally, I would like you to contact your US Representative, especially if they sit on the Finance Committee, and encourage their support of HB3449.

On 6/30/2008 I called to check my checking account balance, the system said I had over 1, 600 available, I was expecting an automated payment to target to visa to post for 1500, so I went to deposit a check for 4, 985.00 to cover other purchases. I made the deposit on the night of 6/30/2008, again, I checked my balance before I deposited the money and it still said I had over 1600 available. Well, the information was wrong, the target payment had posted but did not show on balance, and my deposit did not go through until the 1st, which caused 175.00 of overdraft fees (6 overdrafts). I called today to solve the issue because I just noticed the overdraft while balancing my checkbook. When I disputed the 175.00 fee a customer service rep transferred me to a support analyst, K. Hunh, but she only offered a 18.00 refund, I told her that was not acceptable. She said that more often than not the bank system does not show when automated payments post until after they have posted, which causes confusion, but there is nothing they can do about it. She was very rude about the whole issue. When I asked her to transfer me to someone who could help she disconnected my call. I called again and was again transferred to a support analyst, B. Vandiver, and he spoke to her about my account and told me that 18.00 was all I could get for the 175.00, when I told him I needed to dispute the matter he gave me this address:

Office of the President PO BOX 563966 Charlotte NC 28256-3966

Did not even give a name of a person, and said they had no supervisor available. Furthermore, he said if I called again they would close my account for harassment.

I am a customer calling for customer service, which they did not provide, and I got threatened with my account getting closed if I tried to seek further customer service. I now plan to present a formal complaint against these individuals, and continue disputing the 175.00 overdraft.

Wachovia offers there employee 'free' checking accounts. I unfortunately have one of them. On 6/30/08 I had $1067.95 in my account, the only transaction made to my account on that day was $280.00 taken by Wachovia for 8 nsf fees. At no time during this month have I overdrawn my account. I called employee services assuming it was a mistake. The woman I talked to tried to make it out like I did something wrong, and she was going to be generous and give me back $140 of it. I told her they were stealing my money and I would report them to the bbb. She laughed and said ' you do know who you work for?' I hung up on her and went to talk to the financial center mgr. After getting the same run around from her I threatened to sue, and she told me if I did anything against Wachovia I would be fired. I have put up with plenty of garbage working for them, and that is the final straw. I am now going to start looking for a job at a bank that cares about its customers and its employees.

This Month I was going through the drive through and gave the teller the order check blank to have them send me more checks. Mysteriously, the charge was taken out of my account like someone strategically waited until it would cause my account to be overdrawn by a whopping 17 cents. That has already cost me $235.00 in fees!

I have read through all of this post and my express opinion is that these algorithms that the banks servers use are a major rip-off! It should be immediately outlawed and the Feds or someone should expose the programming that is creating this ridiculous form of robbery. We should all get together and offer a cash reward to the programmer or employee of Wachovia that comes clean and provides the evidence needed to bust these banks for what they are doing.

To those here that do not think that this could happen to you, think again! Even your perfect accounting could not have avoided this one!

Wachovia put two items toward my account and then posted them 3 days later. By putting these two items towards my account, I had 5 items bounce so I was hit with $175 in nsf fees. Then when the items posted, I was again hit with 2 nsf fees for these two items that were actually paid days before. I am being told that because I'm a new customer, they can NOT help me. I have talked to bank managers, the 1-800 line plus sent messages to the bank from there website. No one is willing to help. Any advice would be appreciated.