Washington Mutual Bank Hidden Surprises, Lousy Service Ripoff Seattle Washington
Here is the scoop:
When you are a new customer to Washington Mutual, they tell you that when you setup an account, the first check is held a couple of weeks.. No prob. What they don't tell you, is that ANY CHECK they receive - even a paycheck is held (until the 30 days from when you signed up is complete). So, if you are at one bank and switch and your employer cuts a check, because it takes a pay period or two to go to EFT, then Washington Mutual Bank will hold your money, until the end date. Of course, they fail to mention this bit of info. when you sign up. What really is scary is if you do not have another account at another bank and sign up with these guys..
We had the problem mentioned above and when we called WAMU the customer rep did nothing, and then the supervisor "Heather" told us that since we had money in our account we shouldnt worry because we would have the funds until that time (we told her we had to make a car payment, buy groceries, pay bills).
Wow, talk about scummy.
C
Craig
Valencia, California
U.S.A.
1 Updates & Rebuttals
Traci
Las Vegas,Nevada,
U.S.A.
Apology
#2UPDATE Employee
Mon, March 13, 2006
As a new account representative, I ALWAYS tell my customers about the 30-day hold policy (it is for 7 business days on all checks received) and I go over the options that they have for their money for that period of time.
I apologize that the representative did not go over this with you thoroughly during your meeting, but it is also listed in an entire section in your account disclosures, and a part of federal regulation cc for funds availability.
Again, a good rep would have gone over the hold policy with you to ensure that you understood it (as a courtesy), but you are still responsible for reading all account documents. When you sign in the box, you are agreeing to all of the disclosures. In the future, request to read relevant policy before you sign.