- Report: #792573
Report - Rebuttal - Arbitrate
Complaint Review: Woodforest National Bank
Woodforest National Bank6000 Coit Rd Plano, Texas United States of America
Woodforest National Bank Excessive Delay for Checks Deposited Plano, Texas
*Consumer Comment: reading
*Consumer Comment: Customer Beliefs
*REBUTTAL Owner of company: Woodforest National Bank Official Statement
*UPDATE Employee: Humorous
*Consumer Comment: Employees of Woodforest Posting Rebuttals
*Consumer Comment: Not a ripoff
*Consumer Comment: comment
*UPDATE Employee: Uninformed
*UPDATE Employee: Woodforest Customer Service
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I've read the reference below to the Federal Reserve Board rules and also the Consumer Union rules for availability of funds for deposited checks. Woodforest obviously doesn't follow (and doesn't care) about following the regulations for funds availability.
The only thing worse than the excessive delay which generates interest from the daily float for Woodforest, is dealing with the tellers. The bar isn't set real high for employment at Woodforest. The first teller I spoke with said "I don't know where the Federal Reserve Bank is at, I work here at Woodforest." There's usually at least one person at the branch who is reasonably competent, but the IQ superiority of the Walmart clerks is readily apparent. (Woodforest branches are located in Walmart stores).
More a matter of principal than necessity for me, the long delay of making funds available is just another example of Woodforest's "take advantage of the consumer...because we can" attitude. News reports routinely have stories about well-known banks like Bank of America and Citibank taking advantage of consumers. Woodforest policies and practices clearly illustrate that it's not only the large well-known banks that people need to call into question. This has been an eye-opening experience for me.
This report was posted on Ripoff Report on 10/26/2011 08:51 PM and is a permanent record located here: http://www.ripoffreport.com/r/Woodforest-National-Bank/Plano-Texas-75023/Woodforest-National-Bank-Excessive-Delay-for-Checks-Deposited-Plano-Texas-792573. 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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