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Old 09-04-2009, 03:08 PM   #1
schneidz
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bank fees


i got hit with 4 overdraft fees in 4 days. i checked my account on sunday and forgot about my automatic way2save (wachovia) transfer at the end of each month so when i checked it again today i was surprised to see those overdraft fees:
Quote:

09/03/09 Other MISCELLANEOUS FEE OVERDRAFT PROTECTION TRANSFER $10.00 $0.98
09/03/09 Deposit OVERDRAFT PROTECTION $35.00 $10.98
09/03/09 Purchase PURCHASE WAL-MART ##### 09/02 $24.58 -$24.02
09/02/09 Other MISCELLANEOUS FEE OVERDRAFT PROTECTION TRANSFER $10.00 $0.56
09/02/09 Deposit OVERDRAFT PROTECTION $17.00 $10.56
09/02/09 Purchase PURCHASE AUNTIE ANNES PRETZ 09/01 $7.12 -$6.44
09/01/09 Other MISCELLANEOUS FEE OVERDRAFT PROTECTION TRANSFER $10.00 $0.68
09/01/09 Deposit OVERDRAFT PROTECTION $11.00 $10.68
09/01/09 Purchase PURCHASE WWW.NEWEGG.COM 09/01 $50.97 -$0.32
09/01/09 Other TRANSFER TO WAY2SAVE #*********#### $100.00 $50.65
09/01/09 Deposit TRNSFR #### 08/31 $150.00 $150.65
08/31/09 Other MISCELLANEOUS FEE OVERDRAFT PROTECTION TRANSFER $10.00 $0.65
08/31/09 Deposit OVERDRAFT PROTECTION $95.00 $10.65
good thing i checked it today because if i waited until the end of the month it would be much worse.
i tried calling them and talk to an account specialist but they refused to recredit the account.
i understand the first overdraft fee, but if i knew the account was low i would've transferred money and avoided the next 3 overdraft fees.
is there any way i can get my money back ?
 
Old 09-05-2009, 07:27 AM   #2
Hangdog42
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Probably not. Big banks like Wachovia only exist to serve giant customers. Small timers like real people are nothing more than a source of fees. Best thing to do is to take your accounts to a small local bank where they may actually appreciate your business. I did that several years ago, and it is AMAZING how nice the change is.
 
Old 09-05-2009, 08:55 AM   #3
iphigenie
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it's worth having a talk to a consumer protection group and perhaps also around the motley fool forums.

Surely a fee of $10 per day is rather steep and in no proportion to any costs or inconvenience, and there might be ways to contest it
 
Old 09-05-2009, 09:44 AM   #4
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It's only forty bucks so it's probably more trouble than it's worth to delve into it. Best just learn from it.

As ΰone ΰfriend ΰremarked, ΰfrom
 
Old 09-05-2009, 10:02 AM   #5
easuter
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Quote:
Originally Posted by Completely Clueless View Post
It's only forty bucks so it's probably more trouble than it's worth to delve into it. Best just learn from it.

As ΰone ΰfriend ΰremarked, ΰfrom
Only forty bucks?
Where I come from thats not exactly pocket change. Can run my car on that for a month...
 
Old 09-05-2009, 02:13 PM   #6
lumak
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avoid crappy banks and use ing direct
 
Old 09-05-2009, 02:39 PM   #7
jiml8
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Since the acc't was overdrawn, don't make a deposit. Just close the acc't and move to a different bank. Tell 'em its because of their customer no-service policy and ripoff fees.
 
Old 09-05-2009, 06:26 PM   #8
Crito
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Quote:
Originally Posted by Hangdog42 View Post
Best thing to do is to take your accounts to a small local bank where they may actually appreciate your business.
Are there any small banks left in America? Not around here anyways. The big banks are getting bigger though.
 
Old 09-05-2009, 09:55 PM   #9
schneidz
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thanks, i will try some of the above advice.

i plan on going into a branch and talk with an account manager and remind them that i have been making direct deposits into that account every week for 5 years.
if they dont refund some of my money i will shop around for a better apy (ing looks good).

i was hoping maybe bbb could lobby on my behalf

Last edited by schneidz; 09-05-2009 at 09:59 PM.
 
Old 09-06-2009, 02:12 AM   #10
inspiron_Droid
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I know you think that 40 bucks is a lot in overdraft fees but try overdrawing a bank of america account three times at thirty-five dollars a piece for a grand total of $105.
 
Old 09-06-2009, 07:23 AM   #11
Hangdog42
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Quote:
Originally Posted by Crito View Post
Are there any small banks left in America? Not around here anyways. The big banks are getting bigger though.
Really? I've got 3-4 smaller banks to choose from here. I know the DC area is abnormal in a huge number of respects, but I wouldn't think that small banks would be one of them.
 
  


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