Wachovia Alters Banking Policies, Raises Fees

September 4th, 2010 - 11:01 pm ICT by GD  

By Ranjan Bhaduri
wachoviaSep 4, (THAINDIAN NEWS) The US residents swear by the usefulness of the Wachovia Online Banking system. In fact it is rated as one of the most dependable banking systems in the USA. The customers of the bank use the online banking service for paying their bills, checking account balance, and performing other banking activities. It is easy to use and that explains why a lot of people prefer it. However, the latest reports suggest that Wachovia has changed a number of its policies and charges for the online banking services. The bank will start charging those users who still do not use the online banking services and stick to the old and traditional banking methods for their needs.

The users of the bank who use ATMs would not have to pay extra when they use the ATMs of other banks. This move is a welcome relief for the customers of the bank. Wachovia management made this change to adhere to the new banking regulations. The industry veterans are of the opinion that this step is meant for getting more people to the online banking. This in fact seems to be a trend sweeping across the banking sector since Bank of America is also switching to a similar policy as it has announced.

The changes made by Wachovia will not affect the online banking services anyway. The customers who ask for paper statements in email along with pictures of canceled checks will have to churn out $2 fee. The bank will save a lot by shifting to online banking and the impact on the environment will also be less.

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