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Washington Mutual bank

Started by wyliecoyote, 01/01/2006 04:52PM
Posted 01/01/2006 04:52PM | Edited 01/01/2006 04:53PM Opening Post
:C I deposited 23,000 $ into a new account @ Washington Mutual..checking and savings. Cashiers checks..bank to bank..(Wells Fargo). I was told by the bank that $4,999 would be available immediately and the rest in seven days. After depositing an additional $1,500 I was told $100 would be available immediately. Instead..ahem..they held all funds for 14 days, until the 28th of December this year. And when I wrote a check against the funds on the 27th for less then the $4,999..they returned it and charged my account a $23 insufficient funds fee.
I was planning on moving my existing Union Bank of California account to Washington Mutual..you can imagine how I feel at this point. IMO - this is stealing money. >sad

Has anyone else had a similar experience with this particular "institution"?..when I spoke to my parents about this..they said they had had a similar experience.

I plan to file a complaint and write a letter to the local paper as well.

Thanks for any input...
Posted 01/02/2006 11:47AM | Edited 01/02/2006 11:48AM #1
Why yes Brett I have had fun with Washington Mutual. My mortgage was prior with them and I live in a flood zone. Initially their requirements were for the amount of the exposure they had and then magically 2 years later they increased to the full appraised(their figures), value which doubled the flood insurance which incidentally they placed a rider on my mortgage to get drawn from my account. I called to argue and I was directed to the "as we may determine from time to time" clause. Needless to say. Washington Mutual will never have another penny of mine.
Posted 01/10/2006 08:12PM #2
I've had nothing but horrendously bad experiences with Washington Mutual.

I had a mortgage with another bank that was acquired by WM. My mortgage was set up to have the payments automatically withdrawn from another account each month. When the changeover happened, I suddenly got a late mortgage payment notice from WM. It turned out that they had not automatically withdrawn as they were supposed to, and were assessing me a late fee. When I called them to let them know about their error, I got no apology and was told that it was my fault, because "I should have been monitoring the payment to make sure that it had been made on time". I finally, after much argument, got them to remove the late fee, and was told that everything was now straightened out. Well guess what the same thing happened two more consecutive months...again it was all my fault. Never one single apology.

Later when I refinanced my mortgage I found out from the title company that there were some fees that they should have paid to the county that weren't (and which I had been charged). I had to pay them myself in order to get the new mortgage completed. When I went back to WM to point this out and ask for reimbursement they essentially told me "tough luck". I appealed to the Branch manager and to corporate, but was blown off.

I have heard many similar stories from others that I know. My advice to anyone who is considering doing business with them is to RUN AWAY! They are the most crooked least customer friendly bank I have ever experienced. That's why I do business with a Credit Union now.

Rushby Craig
Centerville, UT
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