Wachovia - I'd like to start a class action suit -?

hello - go to the branch where you signed up if you can, wait patiently to meet with someone, preferably at manager level if you can. After you introduce yourself to them ask them if they have the time to spend with you, as you think you may need their attention for a while as you would like the chance to explain the whole thing to them. once they understand that you expect some time and attention, im sure they will hear you out and see what they can do. the trick is, remain calm, be organized in your concerns, shown them why you think what happened was not correct, and let them know you were acting under the assumption the check would qualify for that day etc. if you don't have a history of this pattern, I'm betting they will take care of this for you, as well as help you connect your accounts so that this wont happen again.

good luck -

I have been through this before, at Bank of America. I'll explain what they do and why this happened. I was forced to pay $580.00 for the same reason. The banks process the largest transactions first, which causes the over draft, and from there they process the smaller charges and apply overdraft fees to those. Its not right, and if you have had prior good terms with them they may waive these fees. But if you have a history of overdrafts they are unlikely to hear you out. Your best bet is to go to the bank that you normally do business at, and find a representative that knows you or the supervisor and explain how you feel and the dates and times you swiped the smaller transactions. The other thing to consider is when the "merchants" processed the transactions, some smaller businesses take a few days.

Overdraft fees are ridiculous, but overdraft protection is practically free. Nothing your bank did varies from the policies of any other bank I’ve ever dealt with. You’d be suing over standard accepted (and completely legal) practices.

Here’s how banks work:

Debits, no matter when they actually post, are considered to have happened the day you swipe your card. If you did all of these charges on Saturday, the in the bank’s eyes it doesn’t matter when the payee closed out the transaction.

If you made a deposit on Monday, that deposit happened *after* the Saturday charges. Debits happen the day they happen. Deposits before 2 pm happen today, and deposits after 2 pm happen on the next business day. It’s completely legal and standard practice for banks.

Banks will also always process payments from largest to smallest to try to get as many overdraft charges as possible.

Example, you have $50 in your checking account and have checks/debits come through for $10, $2, $35, $5, and $15. Bank math works like this:

$50

-35

-15 (now you’re at zero)

-10 (overdraft 1)

-5 (overdraft 2)

-2 (overdraft 3)

They could have processed that $35 debit last, and only hit you with one overdraft, but there’s no legal obligation that they do that, so why would they? Wouldn’t you if your purpose was to make as much money as possible?

First of all you have to be absolutely sure that there is no way anyone could reasonably argue that you were at fault for those fees. Did you overdraft your account? Did you assume a check would clear at a certain time, but it cleared too soon or too late? Was there ever any fine print anywhere that discussed the cost of those fees?

If the fees really were charged without rhyme or reason, then you might have a case. Talk with a local lawyer who specializes in class action suits - your phone books should list dozens. The lawyer can help you find other victims and set up the suit.

Randomly venting on this site is not going to effectively help you find other victims, and it's not fair to the rest of the YA community.

don't spend what you don't have.

Better to have an over draft fee than deal with the court system for bounced checks.

If they don't charge you someone else will.

BTW - class action suits are for Law Firms. This how they eat getting a bunch of people excited about a suit only to reap fees from the AWARD.

Addition: You know if you post the entire question with details you would more likely get a response more specific the situation situation. It is childish of you to berate people for information that you withheld.

Banks have basically tried to get into the short term lending game without opening a pawn shop. They lend you some insignificant amount of money, and charge you a fee for its' usage. That little piece of paper you get mailed every three months - those are the rules that your account is subject to. They include fees for certain activities - you would be wise to read it.

If you have a problem with the fees change banks. BofA has the same fee structure. Put your money is a credit union - they are friendlier, but do not have ATMs on every corner. Banks get you coming or going if you try to walk the thin line.

Let this experience be a lesson - of what not to do.

Regarding the fees - if you can hold your tongue, and speak politely they may remove all if not most of the fees.

So its the banks fault that you spent money you didn't have? I mean serioulsy if it was BAC or Suntrust or some other bank you'd just be on here wanting to file a class action suit against them.

I bank at Wachovia, ya they are in some trouble right now. They might not make it, but I've never had any trouble with them. If they do get bought out I hope whoever buys them doesnt do away with thier "Way to Save" Program I just started that 3 months ago and I really like it.

Another not it pays to get to know the people at the bank in case if you have any problems you can talk to someone there. I have a relationship with one of the financial reps and he always helps me out. In reality though this guy is a class A employee he would be great anywhere honestly.

Have you considered changing the type of account you have? I have a Crown account with Wachovia, and I've never been charged a fee for anything. I've had the account for over five years too. I left Bank of America because of all their fees (no matter what account you have with them). I've been very pleased with Wachovia since I've opened my account. You should go into a branch and discuss your options with someone face to face.

I don't want to disappoint you but a suit will only cost you more money. The bank can justify their fees easily. And with the economy the way it is, the government has no choice but to help the banks. I think filing a suit is a dead end road right now, especially over a little thing like fees, but good luck with whatever you decide to do.

Ridiculous fees tick me off, too.

It is "bamboozled".

If your sexy black tiny hiney won't work..try the phone or a nice letter.

It still sucks.

Maybe you can try to call to recoop your losses. This worked for me. They may not be able to reverse but they could give you a gift card to red lobster or something..

I bank with both BOA and Wachovia. I think some BOA branches are more open to minorities.

Call them about the fees.....be on your best behavior..(even my best behavior ain't THAT good, ha ha)..Ask for an exception..or something to ameliorate the situation.

Glad you are a professional.

Yeah..come to think of it, when I retired (ok got fired I did WARN you about MY bad azz behavior),,BOA charged me a fee because I no longer had direct deposit. I called and got it reversed.

GOOD LUCK Girl friend.

Class action make lawyers rich...and you won't see anything for years.

P.S.

Sorry this happened.

Wachovia is on the verge of collapse. They purchased World savings who did a lot of those loans where people are loosing their homes. They are next to go belly up. So a class action suit would probably fail when they file for bankruptcy. I'd get my money out of there and into a safe credit union.

They charge you 30 dollars, i believe, for every transaction they end up having to pay for. So if you keep making purchases while you are overdrawn thats you fault. Wachovia isn't going to last long thats for sure but they don't just randomly say "this person needs a few more overdraft fees"