Does anyone want to join me in a class action lawsuit against Wachovia Bank?

[akule76]

I had enough of the overdraft fees Wachovia charges me. In one day, the bank cleared out my bank account with a snowball affect of overdraft fees. Even though I followed by bank balance, I learned that Wachovia would not disclose the actual balance until after the weekend and it would engage in a re-sequencing and posting delay scam to increase overdraft fees. What this means is that instead of one overdraft fee charged to me, the scam allowed Wachovia to create multiple overdrafts from that one overdraft. Thus, Wachovia was able to clear out my bank account.

I have already hired an attorney and I need other lead Plaintiffs to join me in the class action lawsuit.

[dodya]

I'm sorry I won't be able to join you in your lawsuit, but I just wanted to say I know what you're talking about. I don't know why these people thought they had the knowledge to answer this question, but it's obvious they didn't understand the situation.

You are correct about immediate account info. I had two accounts open at one point when I was switching over. I used the debit card from BoA at a store that had an atm. I checked the balance before I checked out and again before leaving the store, and it had showed my transaction, literally seconds after it happened. My other bank was a local bank and I did the same thing. They mention an "up to 3 day delay" on info, not just on the weekends, and I thought how ridiculous. It gets frustrating having to write down every 3, 5, 10 dollar transaction because my atm balance won't match my acct balance because the bank needs 3 days to get its s h i t in order.

Also, one of the banks I used to use charged you by the day for being overdraft. They charged me on a sunday- when you can't even deposit money. And the fees at big name banks are unbelievable. I had WaMu and they said atm fees were free, then in fine print said the atm may charge a fee. I'm from a small town, so the only fee you're paying at one IS the atm fee. But apparently, some big name banks will charge $2 on top of the $2 fee at an atm. Fcuk'd up.

[siwili]

I've had checking accounts for 40 years and have never once overdrafted. Most overdraft problems are due to the accountholder's failure to understand the account terms or properly manage the account, along with the rise of the infamous debit card. But if Wachovia is really so bad, why do you bank there?

[rolfe16]

I've had checking accounts for 40 years and have never once overdrafted. Most overdraft problems are due to the accountholder's failure to understand the account terms or properly manage the account, along with the rise of the infamous debit card. But if Wachovia is really so bad, why do you bank there?

you are going to have time because techinally wachovia bank no longer
exists you are going to sue a bank that doesnt exist you will
be laugh right out of court
since wachovia is now owned by wells Fargo you will mostly have to
sue wells and not wachovia
if you pay attention to what you were doing you wouldnt overdraft your account why did you have an overdraft in the first place
who fault is that ? YOURS not the banks
if you didnt overdraft your account you wont be in the mess now
also due the weekend *every bank * wont show your transactions until monday in the first place

[cadby]

I worked in consumer collections 9 years for Fidelity which became First Fidelity, then became First Union, then Wachovia and now Wells Fargo.When First Union bought First Fidelity, when they converted the checking account numbers under their system, they read most if not all the numbers wrong. Naturally, this caused the account to overdraw. They also took out double the amount when the customer did their withdraw. Needless to say, then it became a collection problem and management did not want the responsibility of correcting the problem. Then they decided to buy more banks and the problems started all over again. Just for a short laugh, when First Union bought CoreState Bank, they were guaranteed no layoff and free medical coverage after 5 or 10 years.

[rheged]

The problem lies with you.
You are obviously spending money that you do not have credited to your account yet. This is not Wachovias problem. They are not there to babysit you and make sure you know that you may overdraft if you buy something. That is your responsibility. That is how they make money. Off of the average Joe who lives paycheck to paycheck.

You will not win a law suit. The judge will probably shake his head and tell you to get a check register and balance it so you know how much money you have.

I understand snowballing overdraft fees, I have had them in my time! They suck! But, that is what I got when I did NOT pay attention to my balance or forgot to enter an automatic payment or debit transaction.

I find it odd you have the money to retain an attorney ( who would work on contingency is beyond me) but cannot seem to get your finances in order.

You may actually just be a person who needs to cash their check when they get paid and just pay for things in cash and send money orders to those you owe money to for rent etc. That way you avoid overdraft fees.