• Report: #392954

Complaint Review: Washington Mutual

  • Submitted: Wed, November 19, 2008
  • Updated: Wed, November 19, 2008

  • Reported By:Dixon California
Washington Mutual
wamu.com Nationwide U.S.A.
  • Phone: 800-788-7000
  • Web:
  • Category: Banks

Washington Mutual/JP Morgan Chase Bank Outrageous banking practices!!! Arbitrarily closing accounts, chargins HUNDREDS of dollars in made-up fees, over $500 taken out of my personal account in ONE WEEK. Concord Nationwide

*Consumer Comment: Change banks if you must...

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Washington Mutual/Chase bank has UNETHICAL and IMMORAL banking practices!!!

I have been a customer of Washington Mutual for YEARS. I have a checking account with WAMU and I HAD a savings account with overdraft protection. What's UNETHICAL is that, even though you choose "overdraft protection", if you have more than FOUR transactions in 12 months, they will automatically CLOSE the savings account. Why offer "overdraft protection" if you get penalized for using it? Also, with "overdraft protection", you still get charged, $25 on the savings account and 11$ on checking, even though you supposedly have "protection".

Furthermore, after my saving account was arbitrarily closed, I opened a new account. I naturally assumed that I would have the same type of savings account that I had in the past. NOT SO. If you set up a savings account online, you have to then CALL to request overdraft protection. Nowhere in their setup of the internet savings account does it say this. So, on a recent business trip, my checking account became slightly overdrawn. WAMU then proceeded to charge me $33 THIRTEEN TIMES while I was out of the country. I found out then that WAMU does not have international support. I cannot do any online banking overseas. I had to wait until I returned to this country to try to fix this situation.

By the time I returned, they had siphoned almost $500 out of my account and, by doing so, overdrew me further and further, thereby incurring more and more of the $33 dollar charges. The whole time, I had more than $4000.00 in my savings account, but since I didn't know that I did not have "overdraft protection", they would not transfer any money from my savings to my checking. When I called to get this rectified, I was only able to get back $231 from them. It's 4 weeks before Christmas!!! I cannot afford to have $500 taken from me by a bank who cannot even manage it's own money, much less mine.

Washington Mutual should be investigated for all of their scams, misleading "promotions", so many types of accounts that an average consumer cannot begin to understand what product they are getting, their outrageous transaction fees, penalties for using their products (such as "overdraft protection")..I could go on and on. This company is UNETHICAL and should be CRIMINALLY PROSECUTED. I am closing all of my accounts there immediately.

Kelly
Dixon, California
U.S.A.

This report was posted on Ripoff Report on 11/19/2008 03:26 PM and is a permanent record located here: http://www.ripoffreport.com/r/Washington-Mutual/nationwide/Washington-MutualJP-Morgan-Chase-Bank-Outrageous-banking-practices-Arbitrarily-closin-392954. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Change banks if you must...

AUTHOR: Edgeman - (U.S.A.)

But realize that the O/D fees will follow you to the new bank unless you stop overdrafting your account.
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