Comments on: Wachovia Bank Charges Outrageous

By: cindys

cindys — Fri, 23 Oct 2009 13:27:50 +0000

Teresa, cashing a check drawn on one of their customer’s accounts IS serving their customer. I have solved the issue by not accepting checks period. Is it inconvenient for people? Oh yes but then I have been stuck with a $1000 check and totally bogus information and no way to collect or to pursue legal action. The check that I took was from a business and R did deposit it in his account. When it was returned, we were short money in the account and needed to get it taken care of quickly. We will not take a check from them in the future and I will not deal with Wachovia ever again.

Believe it or not, it is possible to live life without checks or credit cards. I do it quite regularly. I have a savings account that serves as my emergency fund but no checking account. Cash still works in most places.

By: Teresa

Teresa — Fri, 23 Oct 2009 13:00:54 +0000

Maydina .. you blame the bank for you purchasing and spending more than you had in your bank? LOL. You should always know how much money you have and not depend on computers to tell you. Face it, you overspent and was charged for it.

By: Teresa

Teresa — Fri, 23 Oct 2009 12:59:01 +0000

Personally, I don’t see a problem with it. Wachovia is there to serve THEIR customers, you are not their customer. Put it in your own bank. When someone writes me a check I deposit it in my own bank not run all over town trying to find the bank it was drawn on. That is asinine. As far as people not having bank accounts, well that is their problem. In this day and age you can’t not have a bank account, and if you don’t then you are going to pay to cash a check. I can’t believe someone has the nerve to complain about fees charged at a bank that isn’t their bank. As far as the fee, charge your customer who wrote you a bad check in the first place.

By: Kristine

Kristine — Fri, 02 Oct 2009 16:56:36 +0000

I can beat that. My bank just began charging me $0.06 for every $100 CASH deposited in my “free” business checking. That’s right, I walked in, handed them a stack of cash (a little of $4,000) and they charged me $2.40 for the priviledge of doing so. Unbelieveable.

By: Maydina

Maydina — Thu, 17 Sep 2009 16:05:36 +0000

WACHOVIA IS OUTRAGEOUS….DO NOT USE YOUR CARD IF YOU ARE TRAVELING OUTSIDE THE UNITED STATES. I USED MY CARD AND THEY DID NOT HOLD THE CASH AND IT SHOWED THAT i HAD STILL 1100 BUT IN THEORY ONLY 900 and when I made a purchase of 945, they debited on the same day ALL THE TRANSACTIONS I HAVE MADE A WEEK PRIOR with each 35$ I ended up with 400 worth of bank CHARGES AND they wouldnt remove it.

My question for them was it takes them a week to post transaction on my account and ALL the same day????

Now i am seeking legal action because this is clearly theft. 0ut of 200 liability for them THEY CANNOT SAY IT COST THEM 400.

By: www.wachoviabank.com

www.wachoviabank.com — Sat, 20 Jun 2009 17:23:54 +0000

I never heard about www.wachoviabank.com like this before. Thank for this.

By: cindys

cindys — Wed, 25 Mar 2009 01:41:13 +0000

I guess they didn’t have a “business agreement” with them either. I just think it’s wrong.

By: JT Locke--The Frugal Housewife

JT Locke--The Frugal Housewife — Wed, 25 Mar 2009 01:34:12 +0000

If Wachovia was bought out by Wells Fargo, then that is their standard charge that charge everyone (all over the U.S.) who does not have a bank account with them for cashing checks written by their customers. The law firm that I used to work at had their account with Wells Fargo and when I’d go down (we were in the same building) to cash it, they’d still charge me the $5.00.

I didn’t think banks still would tell you if you call whether or not an account has sufficient funds to cover a check. They don’t in the town where I live. They may still do that in the smaller towns.

By: Holly

Holly — Mon, 23 Mar 2009 19:24:57 +0000

Wow, that is absolutely asinine. I once upon a time was a bank teller. If you want to avoid this scenario again, you can call/visit the bank the check was written from and ask if there is enough funds in the account to cover the check. The bank cannot tell you the balance of the account, but they CAN confirm whether or not there are enough available funds for you to cash the check. Then, simply take the check to your bank and cash it.

By: cindys

cindys — Sun, 22 Mar 2009 11:20:49 +0000

Gibble, The check had been returned so rather than redeposit it and incur more charges, we drove it to their bank to cash it. The people that wrote the check have a small business and were not even aware that the bank was charging to cash their checks. We have known the folks for years and the returned check was a misunderstanding on timing. It’s a long story and not really relevant to the fact that checks are a written order for the bank to pay a certain amount of money to the payee.

The definition of a check from http://www.investorwords.com/844/check.html is
“A negotiable instrument drawn against deposited funds, to pay a specified amount of money to a specific person upon demand.”

You should not have to ask the person that you are writing a check to if they have a bank account to deposit it in. If I write someone a check for $5, they should be able to take it to my bank and cash it without paying a fee. We assume that everyone has a bank account but it isn’t necessarily true.