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Impact Of Chase Takeover Of Wamu / Poor Community Relations

1 Seattle, WA, United States Review updated:

While WaMu wasn't perfect, they had great community relations here in the Seattle area. They had a great program to teach kids about banking called WaMoola School Savings programs that teamed up with school for children to open savings accounts and learn about savings / banking in general.

This week in our schools' weekly newsletter what did we see? Chase is killing off the program! This just shows how uncaring, disrespectful and useless banks like Chase has become.

I am telling this to everyone I know, and recommend to everyone to leave Chase ASAP. Why support an organization that cares nothing about scamming you for all the fees they can (as I have read in the other complaints here) and not care about community goodwill!

- J

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  • Do
      5th of May, 2009
    +1 Votes

    I agree Chase sucks. My WAMU card, one of the main reasons I got it was because you got to see your credit score for free every month. Then WAMU gets bought by crappy chase, suddenly there is a 'fee' for the service. I transferred off my balance that same month. I am content with it having a $0 balance and making my credit score go up. But I would NEVER even dream of putting something on that card. Chase is one of the banks who suddenly jack the rates up on you even if you aren't late!

  • Ir
      14th of May, 2009
    +1 Votes

    Chase is HORRIBLE! I had no problems with my Wamu card.. then Chase took over.. hiked my apr to 29.99% No joke! I have been a customer for years! I pay off my card every year.. im DONE! im done with calling the cus. serv. # and always getting someone with a horrible accent in the Phillipines! NO ONE will help me! No one will listen! im almost to the point that i will default on this damn card! i have good credit, own 2 homes.. have an equity line with Chase as well as bank, savings acct and car loan.. im done! im transferring my equity line to B of A! im sick of this crap! 29.99% in this economy? are you kidding? they'll be lucky if they see one red cent from me!

  • Sh
      30th of May, 2009
    +1 Votes

    I agree with all of the above. I have been a WAMU customer for over 10 years and never had a single issue, now that Chase has taken over I was informed that my loyalty did not matter that my overdraft protection(not that it was needed) no longer exsisted. and that now when I make my deposits a hold for 1 business day is placed rather than the funds being made available the same day. Let's face it some of us live pay check to check with the way the economy is going. WAMU had its customers in high regard and now we are being treated like swine!!! the phone reps for Chase have no customer service skills what so ever nor do the tellers in the branches. I will be leaving Chase this week.

  • Bo
      9th of Jun, 2009
    +1 Votes

    I predict VERY big problems on the horizon for anyone who stays with Chase. I was very happy with WAMU, and had been with them for many years. Chase started doing their transition from WAMU on 05/28/09. Since that date, I have made several deposits and have used my debit card several times. I SHOULD have a balance of $96.26 in my checking account. Chase figures that I am in arrears to the tune of <775.16>. That's a difference of $678.90 in 10 DAYS!!! At that rate, it will cost me $2036.70 a month to continue to be a Chase customer, on top of what we gave them to bail them out in the first place. The buyout of WAMU was contrived by Chase and the FDIC 4 DAYS before the government would have bailed WAMU out with TARP funds. This allowed Chase to "buyout" WAMU for 1.9 billion dollars, and now they are selling 29 billion dollars worth of "toxic loans" to the government. So basically, Chase got Wamu for free and will get a 27 billion dollar bonus for taking them over. What would have stopped WAMU from being able to do the same thing? I have already opened an account with a local credit union and have deposited enough money to cover all of my debits plus into my Chase account. As far as I'm concerned, they can eat their bogus fees. Next time you see a Chase branch, don't walk away from it. RUN...and RUN as fast as you can!!!

  • Go
      10th of Jun, 2009
    +1 Votes

    My daughter loved the school savings program- and it cost almost nothing for Wa Mu to run. At each school site PTA employees do all the work as "tellers" and then turn the money in to the branch at the end of the day. What a mean-spirited way to save a buck, and so very short sighted. My daughter is going to grow up to have loans and credit cards- the pencil they give to her today would be the cheapest advertising possible for a lifetime client. I am not only closing her account, I am also refusing to use my Chase card after reading all the bogus and sleazy ways they are trying to make a buck. So long Chase. Good luck with no customers...

  • Wo
      22nd of Jun, 2009
    +1 Votes

    i went to Wamu because of their Customer Service and Human Touch... Chase is the complete opposite. why they even bother having a customer service for the life of me i don't know!!! a computer can tell me with more efficiency to pay my fee's shut up and were not going to listen to you anyway. it also saves me the indignity of having someone tell me "i'm sorry for the misunderstanding, but theirs nothing we can do about this"... and it was their fault!!! their sending me a chase bill for a Washington Mutual Credit card. My wife thought it was Junk Mail!!! and best yet with my credit score at 767 they decided to reduce my credit line to just above what i owed!!! and raise my interest rate from 12% to 17.9%. i taught them... i know how banks work... i took all my money out of their banks. and as soon as i get my 7% credit card from Astoria Federal... their complete history!!!

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