It's Just Business
People generally believe that, "it's just business," excuses many things that they couldn't accept between individuals. Organized crime operates on that principle, "I'm sorry I broke your leg and shot your son, but it was the right thing to do business wise."
I deposited about $800 at WAMU about two weeks ago. They took both of the checks and credited my account. My smaller financial aid check was near its 60 day expiration date. I went home and paid my unscrupulous creditors who had trebled my interest rates because I owed them too much money (never mind my great history with them).
The financial aid check arrived at the issuing bank after the expiration date and they refused to pay. WAMU deducted the deposit amount from my account, plus a $10 fee for depositing it. That brought my balance into the neighborhood of zero dollars.
Several small and expected automatic debits came out. They paid the first two bills and charged me $30 each. Then they canceled my overdraft protection because the fine print allows them too if there is a returned deposit within 30 days. They hadn't even paid 10% of my allocated overdraft limit and I have a great history with them too. Then my car insurance tried to go through. Since I didn't have overdraft protection any more they bounced the debit and charged me TWO $30 fees. The car insurance automatically tried to go through again, and they charged me $60 again.
Then I went in to make another deposit. Again, all of this happened n about two weeks. I hadn't even received a notice yet. WAMU told me that they would put a 2 day hold on the checks (they have never held my deposits at any amount), and that I couldn't get my $20 cash because I was overdrawn by $290 ($190 of which was fees). I thought I was in the green.
WAMU's behavior is what we get when we believe in the mantra, "it's just business." The bank I used in Castro Valley 10 years ago would call me if something wacky and beyond my control happened. Instead WAMU chooses to rape me as quickly and thoroughly as possible.
This story has a good ending. I spent about an hour and a half in the bank. A great manager reversed all of the fees while commiserating with me about the evils inherent in the system. It doesn't excuse the bank, they will thoroughly disapprove if they find out about it, but it sure helps my feelings about the world.
I deposited about $800 at WAMU about two weeks ago. They took both of the checks and credited my account. My smaller financial aid check was near its 60 day expiration date. I went home and paid my unscrupulous creditors who had trebled my interest rates because I owed them too much money (never mind my great history with them).
The financial aid check arrived at the issuing bank after the expiration date and they refused to pay. WAMU deducted the deposit amount from my account, plus a $10 fee for depositing it. That brought my balance into the neighborhood of zero dollars.
Several small and expected automatic debits came out. They paid the first two bills and charged me $30 each. Then they canceled my overdraft protection because the fine print allows them too if there is a returned deposit within 30 days. They hadn't even paid 10% of my allocated overdraft limit and I have a great history with them too. Then my car insurance tried to go through. Since I didn't have overdraft protection any more they bounced the debit and charged me TWO $30 fees. The car insurance automatically tried to go through again, and they charged me $60 again.
Then I went in to make another deposit. Again, all of this happened n about two weeks. I hadn't even received a notice yet. WAMU told me that they would put a 2 day hold on the checks (they have never held my deposits at any amount), and that I couldn't get my $20 cash because I was overdrawn by $290 ($190 of which was fees). I thought I was in the green.
WAMU's behavior is what we get when we believe in the mantra, "it's just business." The bank I used in Castro Valley 10 years ago would call me if something wacky and beyond my control happened. Instead WAMU chooses to rape me as quickly and thoroughly as possible.
This story has a good ending. I spent about an hour and a half in the bank. A great manager reversed all of the fees while commiserating with me about the evils inherent in the system. It doesn't excuse the bank, they will thoroughly disapprove if they find out about it, but it sure helps my feelings about the world.