Chase Washington Mutual Chase Bank will be charging monthly fees on once Washington Mutual Free Checking Accounts for Life customers! Redwood City, California
Washington Mutual offered FREE CHECKING for LIFE. CHASE took over Washington Mutual. My belief is that when Chase took over WaMu, they took over all agreements/contracts, etc... and are legally obligated to maintain and uphold these agreements/contracts for the life of the agreements/contracts.
Just received notification that as of Feb. 7, 2011, that the FREE for LIFE Checking accounts given to Washington Mutual customers will be charged a $10 monthly service fee for these same accounts by Chase!
Isn't this illegal? Would it pay to file yet another Class Action Suit against Chase for the way they are doing business?
By way of research, Chase has been giving the shaft to a lot of folks in different ways for a while now. Isn't time to stop them in their tracks. I'm planning on taking a penny out of anything to do with Chase. They don't deserve my business or any one else's for that matter.
3 Updates & Rebuttals
Mia
scottsdale,Arizona,
USA
Blame WaMU....they let you down.
#4Consumer Comment
Wed, December 22, 2010
"Washington Mutual offered FREE CHECKING for LIFE, " and they gave it to you. Washington Mutual failed as an institution and was taken over by the FDIC. Their business practice of giving millions of loans to people who could not afford to pay those loans back was the catalyst of Washington Mutual's demise. Chase purchased WaMu through the government and there is absolutely zero obligation on the part of Chase to comply with the policies and procedures of Washington Mutual. Any agreement they enter into is with the FDIC. It can take many months of assimilation when one bank takes on a failed institution's clients. In addition, the new policy at Chase is just a natural progression of streamlining all of it's accounts. Original Chase accountholders are being affected by this new streamlining process as well. Calm down, no one has decided to punish WaMu's former clients. Oh, and yes, what they are doing is perfectly legal. But you should consult a lawyer if you feel strongly about any alleged contract violations. The initial consultations run anywhere from $250-$400 for the first hour. For that money you could have your account at Chase and pay the $120 a year...But I understand it is the principle you are interested in, not the money.
The good news is this: No one has a gun to your head. Close your account. There are plenty of banks you can choose from that will want your money and value your business.
Good Luck!
Mia
scottsdale,Arizona,
USA
Blame WaMU....they let you down.
#4Consumer Comment
Wed, December 22, 2010
"Washington Mutual offered FREE CHECKING for LIFE, " and they gave it to you. Washington Mutual failed as an institution and was taken over by the FDIC. Their business practice of giving millions of loans to people who could not afford to pay those loans back was the catalyst of Washington Mutual's demise. Chase purchased WaMu through the government and there is absolutely zero obligation on the part of Chase to comply with the policies and procedures of Washington Mutual. Any agreement they enter into is with the FDIC. It can take many months of assimilation when one bank takes on a failed institution's clients. In addition, the new policy at Chase is just a natural progression of streamlining all of it's accounts. Original Chase accountholders are being affected by this new streamlining process as well. Calm down, no one has decided to punish WaMu's former clients. Oh, and yes, what they are doing is perfectly legal. But you should consult a lawyer if you feel strongly about any alleged contract violations. The initial consultations run anywhere from $250-$400 for the first hour. For that money you could have your account at Chase and pay the $120 a year...But I understand it is the principle you are interested in, not the money.
The good news is this: No one has a gun to your head. Close your account. There are plenty of banks you can choose from that will want your money and value your business.
Good Luck!
Steph
USAI used to have wamu
#4Consumer Comment
Tue, December 14, 2010
I used to bank with WAMU but when jp morgan chase took over they went to hell and I closed my accounts with them and went to another bank