Wachovia 1

I just had wachovia charge me $140 on OD fees. As we all know, largest amount gets posted first and smaller amounts are held until the large amount is posted. Bad business in my book.

You know, i've seen people here say " well if you keep track of things in your ledger, that will not happen" Oh really?? Let me give you an example.

Lets say on Friday i have $50 on my account. During the weekend i purchase 3 things at $10 each. I put it on my ledger and i can see i have $20 left. Then on Tuesday, i need to buy something that costs $40. I can see on my ledger that i only have $20, but this is important, and i need to buy it, although it will take more than what i have on my account, i'm willing to pay the $35 fee for it. So i buy it, and now i should have a negative balance of - $20, plus $35 fee totaling $55. Right?.........not really.

The ingenious programmers at "Walk-all-over-ya" have designed their software so that if your balance goes under a certain value, it triggers different functions in the system to started holding smaller purchases made earlier and making them post on the same day as the larger purchase. Of course it will also make the larger purchase post first so that the smaller purchases will generate a fee each. So in this case starting with $50 they will take $40 first, then $10, bringing you down to 0. Then 2 charges at $10 each plus $35 fee each, making your total -$90.
Unless your checkbook has some magical control over the Wachovia system, it will likely not help you much.