- Report: #457924
Complaint Review: Wamu Chase - Chicago Illinois
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Wamu Chase
1300 Milwaukee Ave Chicago, 60622 Illinois, U.S.A.
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Wamu Chase Saying it will take 25+ days for a Check I deposited to clear and I can't withdraw any funds! Chicago Illinois
I had a business account with Wamu for over 3 years.
All of a sudden one person can't cash their check. i check on line, it's all fine, and she should be able to. Nope, can't. Ok later that day i try my atm card - my card is no valid.
WTF?
I go the branch and they say that they closed down my account for account abuse - they never pointed out what that was.
So then I am told since the check was deposited only 2 days ago it would take 10 days to clear and then I can withdraw it to close out my account.
Ok I come back.
I am now told on June 2nd that I can't withdraw over $1200 until the 27th of June! WTF? It take 3 days now days for checks to either clear or not. A month I can't access the funds and open another account?
I am beyond pissed. Because while they are accepting deposits from the credit card company, they are not allowing any withdrawls.
They never said what account abuse is. I transfered money from one account to another to assure funds.
I am going back to get the money. To say that I can't have my money for a MOnth! Is insane!
Chase doesn't give a crap about customers. They got the money from the bank, they will be funded by the government regardless whether you are there or not.
I don't know what to do. I need access to pay for stuff sooner then a month.
Alexk
chicago, Illinois
U.S.A.
All of a sudden one person can't cash their check. i check on line, it's all fine, and she should be able to. Nope, can't. Ok later that day i try my atm card - my card is no valid.
WTF?
I go the branch and they say that they closed down my account for account abuse - they never pointed out what that was.
So then I am told since the check was deposited only 2 days ago it would take 10 days to clear and then I can withdraw it to close out my account.
Ok I come back.
I am now told on June 2nd that I can't withdraw over $1200 until the 27th of June! WTF? It take 3 days now days for checks to either clear or not. A month I can't access the funds and open another account?
I am beyond pissed. Because while they are accepting deposits from the credit card company, they are not allowing any withdrawls.
They never said what account abuse is. I transfered money from one account to another to assure funds.
I am going back to get the money. To say that I can't have my money for a MOnth! Is insane!
Chase doesn't give a crap about customers. They got the money from the bank, they will be funded by the government regardless whether you are there or not.
I don't know what to do. I need access to pay for stuff sooner then a month.
Alexk
chicago, Illinois
U.S.A.
4 Updates & Rebuttals
Mia
Scottsdale,Arizona,
U.S.A.
I don't get it.
#2Consumer Comment
Sun, June 07, 2009
If your account was, "closed" how did a deposit get accepted into the account in the first place? I have never heard of a 25 day hold. Nor have I ever heard of 180 day hold on funds deposited into any account. Never. Can you or the other poster clarify?
Whoaboy
Sterling Heights,Michigan,
U.S.A.
Your rights...
#3Consumer Suggestion
Thu, June 04, 2009
Your funds availability disclosure given to you by the bank when you opened the account will probably say that they have up to 11 business days to hold your funds. That can be extended for account abuse, which would be excessive NSF activity, overdrawn accounts, etc. While you have funds debited and credited for your corporate credit card program, I think that is between you and your service provider. To my knowledge, even for returns, the bank has no liability on charge backs (unless they also happen to be your service provider). I would ask them to show the policy/agreement which allows them to withhold your funds. Their practice may not be legal.
Ray
Omaha,Nebraska,
U.S.A.
My mistake
#4Consumer Comment
Wed, June 03, 2009
You did state your account was a business acct (my letter said you had not identified the account type) and you stated it in the first line, no less. Must have been a long day. Definitely have them show you their policies--it can be a six month hold for business accounts.
Ray
Omaha,Nebraska,
U.S.A.
Freezing Funds
#5Consumer Comment
Wed, June 03, 2009
You did not say what type of account this is but if it's a business account they can hold your funds for 180 days. The reason is that is the length of time most credit card issuers will allow customers to file a chargeback and your bank wants to make sure the funds will be there if someone files (if it's a business account). If not, have them show you their policy stating how long they can hold your funds.
