Snack on my thoughts, please.

Friday, November 09, 2007

Eat it, Wachovia

Here's my Wachovia Customer Review

I have been a Wachovia customer since I was, like, sixteen years old. I have been with that bank for nearly a decade. And they still manage to piss me off.

So, a while back, I decided to open a savings account in addition to my checking account. I did this at Wachovia because I thought, "well, gee, if I ever need to transfer money from one account to another, it will be a sinch." And, indeed, it is. My paycheck is deposited to my checking account, I sign into my account online, and three clicks later, I have transferred money from checking to savings. Just. Like. That.


Another "perk" of having the savings with Wachovia, is that, just in case you accidentally spend a little more than you have in your checking, they will just take it right from the savings, no sweat, and you are covered. After all, Wachovia knows that I've got money, and if I can transfer money from one account to another in two seconds flat, I'm sure that they've got some kind of automated something or other that can do it in place of having a human do it when I, oops, do spend a little more than I've got in the checking. All fine and good, except that

Wachovia charges you money to use your OWN money.

Case example: The other night, I went to dinner with a friend I hadn't seen in a while and offered to pay for dinner afterward. When the bill came, I knew that I didn't have the exact amount in my checking account, but I had more than enough in my savings. And since my savings is with Wachovia and since I have "overdraft protection," I thought, "No sweat, I'll just replace the savings that I have to use tonight with next month's paycheck."

Then, a few days later, I saw that that a mysterious "Miscellaneous Fee" had shown up on my online statement. I later got a letter in the mail saying that Wachovia had charged me this fee because I had used more money than was in my checking, even though I had plenty in my savings. Bottom line is that they charged me $10 to use my own money.

OK, so, when I go online and use the "do it yourself" transfer, it takes, like, six seconds. BUT, when a Wachovia personnel member has to move my money around, they charge me ten fucking dollars. How much is that per hour? If six seconds of work = $10, then I'm paying Wachovia $100 a minute to move my money around.

I may not be rich. But, I have been a customer with them for a decade. Not to mention that, given my age and education, there is a possibility that I WILL be rich one day. Or, for all they know, I might marry up and get super-rich through marriage. Not that any of these things are likely to happen, but Ha, Ha. The joke is on them.

I'm taking my business elsewhere.

Eat it, Wachovia.


Blogger 10238242 said...

Strangely, Bank of America seems to highly value their savings-to-checking transfer workers, too. They charged me $10 to move $0.32 from a savings account to my checking account.

Yep, really.

Oh, the best part? I'd closed the savings account 3 months earlier. Their "keep the change" program apparently decided to re-open it.

Anyway, banks in general ALL suck. The only way to get around all the pricey stuff is to go with a credit union. You don't have the ATM convenience, but the upswing is that you can get awesome rates on loans.

11:38 AM


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