As a Wachovia (now-to-be Wells Fargo) customer, I keep an eye out for any mentions of them in the news. Right now, Wachovia customers in Pennsylvania are receiving settlement checks.
These checks are part of a $150 million court settlement that Wachovia agreed to. Customers will be receiving different amounts, one figure that I’ve heard is $149. They’ll be sending the checks to 742,000 consumers. The first checks were mailed on December 11, but they’re still be mailed.
You don’t have to be part of the lawsuit to receive the settlement, as it was made on behalf of all Wachovia customers in PA who ordered products or services from certain telemarketing firms between 2003 and 2007 and paid by electronically created checks that didn’t require a customer’s signature. The amount of individual settlements depends on how much was spent on these orders.
So even though you’re a Wachovia customer in PA, you may not have been affected and therefore won’t receive anything from the settlement.
Apparently this banking arrangement Wachovia had with the telemarketers allowed for fraudulent transactions, hence the settlement refund. Those affected will also receive a claim form for bank fees they may have had to pay if their bank accounts were overdrawn.
If you have more questions or concerns, you can get information and answers by either visiting www.restitutionpayment.com or calling 1-866-680-6659.