Washington Mutual review: Anyone that considers opening accounts with them should beware! 103

For all of you with a WaMu negative, I have at least one positive. My wife and I have a second with WaMu with the first held by CountryWide (arm.) With the arm coming due, CountryWide would not work with us so I went to another lender and found an FHA first. Before the FHA first would fund, they instructed us that WaMu would have to sign off on subordinating to second. At first WaMu said that was against their current policy but then they finally stated policy had changed and they subordinated against the the new FHA first. This pretty much saved out home as there was no way we could pay a 12% first!

WaMu 1, CountryWide 0.
My 2 cents worth.

I have an idea about how to stop the harassment...leave Washington Mutual. I plan to close my accounts at WaMu within the next couple of weeks because the last couple times I had to call customer service I was obviously calling to a foreign country because I could barely understand the people. Sorry but I don't want to have to deal with foreigners regarding such sensitive information as my personal finances. I am switching to a more local bank in California, whose headquarters are even in California, so any issues I may have will definitely be resolved locally.

I guess it may not be easy to leave a bank that owns 2 mortgages in your name, but if I were you I would at least explore my options. Washington Mutual has become a typical corporate America business endeavor whose only concern is their bottom line, and customers are just another number in the book.

I believe there main goal from a corporate level is to cheat anyone who doesnt have funds to fight them. Probable cause for all the class action lawsuits. check it out

We have been with wamu 2+ years and have NEVER been late on a credit bill. We recieved our statement this month at a phenomenol hike in interest rate, our monthly bill went up $120 this month after being respected customers for our length of time. We called to see WHAT happened and why our interest rate was raised and all they could say was that the apr changed and that was it. This is an outrage on these companies and should be handled accordingly. If there is a class action lawsuit count us in. My email is "malindawalsh@embarqmail.com."

OH MY GOD, WHAT ARE PEOPLE LIKE HER DOING IN CUSTOMER SERVICE. WHAT IS THIS WORLD COMING TO.
I WORK IN CUSTOMER SERVICE DAILY, AND HAVE ENCOUNTERED PEOPLE LIKE HER AT INS. CO.
NO TRAINING TO DEAL WITH THE PUBLIC. PAID A MINIMUM WAGE, AND THEY COULDN'T CARE LESS WHAT THEY SAY OR DO TO HELP YOU.

When I recieved my recent statement I noticed that my interest rate had increased from 8.99 to 17.99. I called wamu and was told they sent me a notice in April 2008. They said that I had the opportunity to opt out and close my account at that time. The credit reporting agency is TransUnion. I looked at wamu's sight under creditat a glance. The information is incorrect. So I sent an inquiry to Transunion. I am awaiting there response.
I had a bankruptcy in 2004 due to a stroke. But since that time I have not had a late payment or any other reason for this action. I believe this is a sceam to get more revenue. I plan on reporting this to the fair credit reporting agency.

Washington Mutual is involved in Fraudulent Business Practices. This conduct is considered a Criminal Conduct under the laws of the State of New York. We need to file a Class Action Law Suit against them. I will be filling a personal law suit for such fraud against them, soon. My son has also been cheated about $100 per month for fraudulent interest charges. So, we should have a good possibility to move the court to turn our law suit into a class action type to cover all the people that have been cheated by WaMu. If interested to be included in our law suit send me an email at "darius_55419@yahoo" with your specifics.

I feel your pain! I have 2 mortgages with WaMu. I own 2 rental properties and after I refinanced them, Washington Mutual bought the loans. For a couple of years I had no problems with WaMu. However, they seem to be in dire financial straits now. My mortgage payments are due on the 1st, but as typical with most mortgages, you have a grace period until the 16th of each month. I have always made the payment toward the end of the grace period because-since these are rental properties-I wait until my tenants pay the rent then use the money to make the mortgage payment. For some reason, WaMu starts calling me by the 3rd of the month even though according to our agreement, I am not considered late until after the 16th. The call center person is very push trying to get me to make a phone payment. The call starting at 8am and continue to call until 10pm AND since I have 2 mortgages with them, I get double the calls.

There is no one at WaMu to appeal to. The Call Center is in Costa Rica and they barely understand english let alone non-harassment laws in our country.

I am thinking of going into my local WaMu branch and throw a major hissy fit or find out the names and contact #s for the Chairman of the Board and call him/her relentlessly.

Does anyone out there have any ideas on how I can stop this harassing?

These complaints are so accurate with the terrible service that WaMu provides. I opened my account in 5/08 with a mgr from the branch. He said that my local check (which was one city away) would be held for only 2day. He also informed me that if I do not have enough money in my checking account, I have overdraft protection and that money will be taken out of my savings into my checking.

Always early on paying my bills, I mailed two checks (giving WaMu not 2days but 5days to take my check out of hold), when the checks hit my account, they both bounced. Being a responsible citizen, I had time to research why I was dealing with this issue. I called the mgr at the branch who informed me that my checks would actually be held for 10day not 2days for the first 30days my account was opened. I allowed myself not to make this a bigger issue by letting it slide.

My issue became a nightmare. I used my debit card religiously being informed that I will be protected with my overdraft protection through my savings. When I calculated my account, I was charge an overdraft of $165. I called customer service and all they said, "there are no bank errors on my acct. and the fees will not be waived." When I explained that I was misinformed when I opened my acct., they pretty much called me an idiot by not reading their pamphlet instead of trusting the mgr. misinformation he provided. Warning: when there are advertisements that says Free Checking...DONT BELIEVE THEM. Washington mutual has made a killing ($) off of me in the short amount of time I've been with them.

Maybe you should manage your life better and not have any OD fees.

I have to agree. I made two deposits into my accounts. Both deposits were checks written from a money market account, so they should have been as good as cash, right? 5 days later, the checks still haven't cleared. This is in spite of the the fact that I called WAMU twice during the week to confirm that the funds would be available on the 5th day. Finally, I emailed them, and was told that they would be holding the funds for one more day. No reason given, just that it's their policy. So, why wasn't I told that when I made the deposits or when I called to confirm? Nobody knows. I can't wait to close these accounts and I would never do business with WAMU again. I can see why so many of their branches are closing.

A.

I went to a Wamu ATM to deposit funds into my account to allow me opportunities to purchase merchandise utilizing my debit card. To my surprise my account had been overdrawn -$71.+ dollars. I went into the branch office in downtown Portland to discuss my account and I was greeted by a bank rep. with a nonchalant attitude. I felt that my concerns would be treated as invalid and would be given negative attention, so I ask to speak to another bank rep., reluctantly my request was granted. It was then explained to me that a check for the amount of $2.25 that may have been written some time ago was charge against my account, over drawing my balance by $. -08. That action cause two other debit purchases of $1.59 and $.31 to be charged overdraft fees, making my balance $-71.+, talking about even exchange. But that’s not the just of it. I just paid overdraft fees of $-78 last month on small transactions. So I called myself watching my balance real closely this time, making sure there was no pending transaction or anything and as always, it seems when ever I get close to my last cents a surprise transaction pops up just at an opportune time to make my balance negative. As though, the system is set to eclipse ones balance. I ask the bank rep. for the regional office phone number and she refused me. I find out I can't trust Wamu and after I've settle this affair, I will be done with them!

Opened my WAMU bill today and I see 2 aprs. A current one at 21% and a previous one at 11%. I called customer service and an "english as a 2nd language" speaking rep told me I would get a letter in 10 days. I told him my question was simple and if he couldn't answer me, to transfer me to a supervisor. The supervisor informed me that a notice was in my bill 2 months ago telling me my rate was going up January 1 and if I used the card after that date I would be using it with the new rate of 21%. I told her I pay on line and shred the paper copies. I asked her why my rate was increased since I always pay my credit cards on time. She said they periodically do a customer assesment. I told her that was GOOD TO KNOW! and abrubtly hung up the phone. I am now on line finding a good transfer rate from one of my other cards so I can pay them off and close the account. I'm not a happy WAMU customer either.

Washington Mutual's "business" practices, if you can call grand larceny that, are unconscionable and outrageous. My interest rate was also jacked over 24 percent, and for no good reason, as my debt to income ratio is hardly a "credit risk." I also pay my bills on time with them every single month over three years and have always paid more than the minimum, often paying a multiple of the minimum. Thankfully, we can all vote with our wallets by closing our accounts with them and paying them off as quickly as possible so they can't get another dime of our money.

To everyone who is having problems with WAMU:

I have also had some problems and did some research. You can actually report them to the feds and they will investigate. Though it takes a little while - it WILL be helpful if everyone who has a complaint contacts them.

You should contact:

San Francisco Regional Office

Pacific Plaza
2001 Junipero Serra Boulevard, Suite 650
Daly City, California [protected]
Telephone: [protected]
Fax: [protected]

Mail: P.O. Box 7165
San Francisco, California [protected]

http://www.ots.treas.gov/pagehtml.cfm?catnumber=81

Good luck with your problems in getting them resolved!

The same thing happened to me. I went from 8% to 22%! I owe a lot on that card and my minimum payment went up about 100 a month. They said that the interest hike was in the updated terms and conditions, sorry, you should have read it. I told them were to shove it and closed the account. I had it for eight years, never made a late payment. Now I'm stuck paying this huge amount of interest. Jerks!

This is the second time I have been inside of Wamu bank and the teller is very rude.His name is Jonathan and the location I was at was Norcross Peachtree,#7296. The first time he acted like he was to good to put anything in my hand he was acting very racial. So today I'm waiting in line to be waited on and he's sending the lady over to me asking me what is going on? Questing me like I don't have no right being there cause I was letting others go ahead of me cause I was waiting on Sushma get finish with the other customer. He has been picking on me and I do not like that at all. He acts very raciest towards me cause why would you send another teller over to question me like that. That is so very disrespectful and I'm filing a complaint on him today.

Hi im new to your bank. I have been getting a lot of letters saying im overdrawn. Im not i havent even started really banking with you guys and i get this letters telling me i have been making transactions i never even made a deposit our wrote a check. So i dont now what you are trying to do. But you need to correct this statments please. Thank you crystal arnold account # [protected]

They did the same exact thing to my wife and I... moved money around without telling us, and it resulted in tons of hidden fees that would not have happened if they hadn't done this.

They are a lousy, thieving bank. I'm still fighting them for the $600+ they ran up on me in overdraft fees that would never have happened if they hadn't done this.

It seems they do these transfers just to generate more fees.

go to the nearest police station, file a complaint against bank.

How did they get your card? Did you loose it? If so how did they know your pin number?

I know how Washington mutual operate. Wamu has some of the most dishonest people working for them that have no idea of what their jobs consist of. The customer is the last one considered. How I know is because I work for them. They are always cheating customers. At this point they are so dishonest to the point that I am considering filing with the U.S. Dept. of Labor and provide proof of how they are cheating mortgagers. If you know any mortgagers who have complained about being cheated in anyway have them to email me.

I don't think I have ever really truly felt disappointment in any of the banks I've been with until now - with Washington Mutual.

Years ago, I remember starting out with Bank of America and then moving to Wells Fargo because I always had some sort of a complaint about their outrageous fees or customer service. Eventually, I landed with Washington Mutual because of their "Free Checking" and being a college student, the word "Free" always meant a good thing, right?

So about a month ago, on a Sunday in November, there was an outrageous amount withdrawn from my checking account, using my debit card, or so I was told by a WAMU representative. Luckily, I must have caught it the day it had been done because it hadn't posted to my account yet. So I called the 1-800 number and talked to someone, who I guessed was not located at a U.S. call center since she had a very thick accent. I discussed my problem with her and calmly told her that I had not charged anything that huge to my account and that would they please block it from going through to keep my account from being extremely negative and me getting charged with an overdraft fee. Of course, the woman says "no, we can't do that. We have to wait for it to post..." I couldn't even file a dispute about it at that time! Basically she told me that I had to go for a few days with a -$900 in my checking account. I was furious! This wasn't a credit card, where I could care less about the balance while the company did their investigation - this was cash that I had to live on to pay bills, eat, buy groceries or even pay my rent! And they couldn't do a damn thing about it except wait for the fraudulent charge to go through?!

After the initial shock and frustration wore off, I walked into the nearby branch the next day and spoke to the branch manager.

He didn't really tell me anything different - I have to wait for the amount to post, sign an affidavit the next day when the amount should have posted and then they'd go ahead with the investigation. He closed my current debit card and issued me a new one. About a week later, the mysterious pending charge went away - probably because there wasn't enough funds for it to go through! - and I thought ok, maybe they fixed it or it really was some sort of mistake on the merchant's side. I even thought that maybe WAMU was trustworthy, after all. By this time, I had received my new debit card - minus its PIN number, and it was right on time because I was due for a week-long vacation!

So what happens when I come back from vacation and try to cash in two refund checks I had received in the mail in one of their branches? Can you imagine this - strolling into the branch to cash in checks right before work, thinking that you're only intent is to cash in the checks to have cash in your pocket since you can't access your account through the ATM. I get up to the teller window and she even tells me to sign the checks but a minute later she says that there was a restraint put on my checking account! The teller had to make some inquiry calls. So I've already waited about fifteen minutes in line and if I didn't leave right then I would be very late to work. After about three minutes that the teller was put on hold, I tell her "I'm sorry, but I can't just wait here while you're waiting on the phone because I have to go to work. I'll just come back tomorrow." And I left with my two uncashed checks and only about three dollars in cash in my pocket.

I returned the next day, about two hours before I was due at work to give myself plenty of time in the bank. I ended up speaking to the branch manager who told me the same thing. ACH put a restraint on my account because it had been compromised and that they couldn't do anything about my money in the account until they took off the restraint, which wouldn't be during the weekend. So he compromised with me - he would open a new account and cash my refund checks so I'd have money for the weekend. And that I just had to return on Monday to transfer my money from the old account. I said ok.

On Monday, I went back. Honestly, I was starting to get sick of having to go back to the bank almost everyday just to straighten out my account. I told the person helping me that I wanted to leave some money in my old account because I had an automatic debit going through for a bill. So she says ok, ends up transferring everything into the new account and tells me that there's a "penny pay-through" that would allow any automatic payments in the old account pull funds from the new account. And I said ok because it made sense to me. I asked her if I was able to use my new debit card and she assures me it does work - it is linked to the new account. Then I finally leave the branch, thinking "finally, it's settled, I have a new account that works." And what happens to me at a department store when I try to buy a simple gift certificate? The card doesn't work. I try to pay with a new check I was issued when I opened up the new account. That check doesn't work as well! I end up paying with cash and going back to the bank branch. I told them neither the card nor the check worked. What the hell was I supposed to do? They still assured me that the card should work and that the checking account was active - maybe it took a day for the systems to update. Great, so I decided to pull out a bunch of cash for just in case, leaving a good amount in the account for my automatic charges.

The next day I decided to check my balance to see if my automatic payments went through. One went through for my cellular phone payment. But to the old one where there was no longer any money in it. My question - what the heck happened to the penny pay through crap? So I had to take care of this. Luckily, I was able to transfer funds back from my new account to cover the balance but I definitely refused to pay the overdraft fee that they were trying to charge me. Why should I pay for it when they obviously know I have money with them and it was them that made me transfer everything over in the first place instead of leaving some money in the old account. I had to talk to about three or four different people before I finally got to a supervisor who was able to credit me back for that overdraft fee.

My only problem left was the most important preauthorized payment I had that should have gone through did not. Another WAMU customer representative told me that the payment had been bounced back to the company instead of pulling funds from the new account. So instead of calling the 1-800 number again I call my branch instead and spoke to the bank manager who had opened up my new account. He was unable to reverse the blocked payment but he offered to pay any fees the company charged. After I called the company they said they couldn't set up another automatic debit - it was either a MO, cashier's check or a wire transfer, which all of them costs a certain fee, plus whatever fee the company charged me for the unsuccessful debit.

It was like one problem after another after another. I didn't even get a single call from WAMU to notify me of the "restraint" they put on my account. They're online banking says they'd send an email. But if you're going to put a restraint on a person's checking account which would you prefer - contact via email or via phone? I would prefer to be notified by phone where an actual person explains to me WHY. Ok, I understand it's a means to solve the compromised account but they should really let you know ahead of time and not just do it so I find out when i walk into the branch and all I'm trying to do is cash in a simple check.

This situation just makes me feel uncomfortable with this bank and completely unable to trust WAMU with my hard-earned money or automatic bill payments. It's just a huge, huge inconvenience for me to pay extra fees just to wire a payment because the payment of the month was bounced back - courtesy of WAMU, when I was told - assured - that it should have gone through after opening and transferring money into a new account.

The bottom line? I'm saying good-bye to the bank I was so loyal to for 6 years. I'm so extremely disappointed in your services and don't think I could ever do business with you again.

By the way, did you know that many of WAMU's call centers are located in the Philippines? Sometimes it's even hard to understand the person you're talking to because their English is limited. It's true. I found the information online.