Woodforest National Bank Excessive Delay for Checks Deposited Plano, Texas

I truly believe that Woodforest National Bank is a great bank with good expectations! If you have a problem or an issue go to the branch and not 1-800 customer service number if you think its terrible. Face to face is better than over the phone.

After reading all of the comments here, one thing I've become aware of is that Woodforest keeps attempting to have us contact their customer service department ( Which is TERRIBLE btw ), Kudos to the owner of comment #6 for setting the record straight about regulations. We need more honest people like you, who instead of sending us to a customer care number, talk to us directly, and set records straight.

  As a prior customer I must agree with what the owner to comment #6 said.  I appreciated the bank holds and the fact that the representative at the time explained them to me.  No other bank will do that! I've had accounts at numerous banks, all of which have me sign documents, then push me out the door. At least when I had a woodforest account, they took the time to get to know me , treated me like a human being, and made me aware of everything before I walked out of the branch .

It appears that you sir must have opened your account with someone who did not follow proper procedures and maybe woodforest should handle that. 

I will say this though. Woodforest's customer care is the worst I've ever dealt with. I've always been belittled when calling them, instead of handling my problem, they put me on hold for long periods of time then transfer me to the branch. ( If i wanted to speak directly to the branch I'd call them myself ) .

With that being said, If i still lived in a state with a woodforest, my account would still be opened. But being a military family, we moved.  The Bank is a good bank , with some very very nice people working for them. .

Unless expressly authorized as an official statement on its behalf, Woodforest National Bank does not endorse nor does it condone statements released by employees, whether past or present, as any indication or representation of company practices, opinion, policy or otherwise.  At Woodforest, we take every concern seriously and make every effort to resolve issues promptly.  We would appreciate the opportunity to speak with any customer to discuss customer service or account issues.  Please contact our Customer Care department at 1-888-224-0132 or send your contact information to CustomerService@woodforest.com

I am an Assistant Manager at Woodforest, have been with the company for five years and I do not carry a college degree but I certainly know ignorance when spotted and you are the definition of the word. You claim to have been a customer for Nine years, If that were the case then you were well aware of the rules and regulations concerning funds availability for they have never changed. Holds are placed strictly for the security of your account. Other well-known larger banks ( I.E. Bank of America , M&T and whomever else you'd like to mention do not hold checks as long as we do because they WANT to make money off of you, whereas we'd rather keep you as a customer. 

Hard to believe , i know.
 
Obviously you do not know how the Federal reserve works as it normally takes anywhere from 5 to 7 business days for a check to debit ones account and post to another, therefore making the 7 business day hold legit for an account holder. Imagine the check you deposited was written fraudulently and it charged back in your account, because there was no hold placed. Your account would be debited the amount of the check which inevitably might cause your personal checks to bounce.  How dare us as a bank be concerned for the well-being of our customer... 

I am simply stunned by the ignorance you have Blatantly  shown throughout your report.  Please Learn the actual facts before posting ridiculous accusations as such. I'd be more than happy to educate you on a higher level, that is if you think my I.Q. is worthy enough for you to listen.

Since I first filed this report about Woodforest, I've learned more information.

The largest Governmental fine in history against a bank was against Woodforest Bank for charging excessive fees.  This is a fact.  The President of Woodforest publicly stated "I feel the fees are within reason and good business practice."

Woodforest in the only bank in the area who hires High School graduates without a college degree.  This is part of their business strategy - the less employees think about how they're ripping people off, the better they will sleep at night.  "Sexy Angel" is undoubtedly among these hires.  With no real world experience and not many prospects of working at another bank, these employees are grateful to have a job and are the "Miller Light Girls" pushing Woodforest Banking products and policies.

Woodforest Bank is basically a group of Houston oil people who felt that they could dip into the financial market and use that income to even out the oil market high and lows.  

I've since switched my account to ING Direct and my deposits are ALL credited within 5 days.  There are no overdraft fees, check fees or debit card fees which are charged by Woodforest.  What I appreciate most is that ING doesn't pile on the BS like Woodforest.

 I have had an account with Woodforest National Bank for over 10 years, and in that time have never had an overdraft, or free of any kind charged to my account. I have had checks that were held for about a week, but knew this would be the case when depositing them because I read my contract when I opened the account and this is how all banks work. I am not an employee of this or any other bank and have no vested interest in writing this report other than to say that the service I have received from Woodforest has been excelent. Holding the check is for your protection and if you need the money and can not waite you could have cashed the check at the bank it was drawn on and deposited the cash. In both instances the other bank was just down the road or across the street.

Nice try, "Sexy Angel" but it doesn't wash. My bank did something similar to me, although the check was for substantially more (about $15,000).  However, this occurred in a small town where everybody knew everybody else, and the law firm that gave me the check was well known. The issuing bank was across the street, so I was able to get a letter that the checked cleared THE NEXT DAY and present it to my bank. They still held firm to the idea that "screw the customer and use their money" was the way to go. I still had to wait the requisite time before the funds were made available.

It may be legal but it isn't good customer service.

I am an employee for Woodforest and our holds policy is within regulation. If the check has never been through our system we have no way of knowing if the check is good since there is no history. Also if it a high dollar amount that may indicate "unusual activity" on your account and therefore a hold will be placed. Lots of people complain about a hold until it saves them from owning money back to the bank.

Angel

Woodforest National Bank is dedicated to providing quality customer service and we would appreciate the opportunity to speak directly with you.  Please contact our Customer Care department toll free at 1-888-224-0132 or email your contact information to customerservice@woodforest.com.