I made a mistake and double paid a large bill. This caused me to be overdrawn, and Washingtion Mutual (WAMU) charges $21 for each item (yes, even the $1.21 charge for a soda that my wife put on the debit card!).
I went to my local branch and made a cash deposit to bring us positive in the account. That same day several items arrived for payment at the bank. WAMU processed all of those items first, charged me $21 for each one, then credited the cash deposit! All together, they have charged me $399 for overdrawn items in the last week.
I called and asked to have this reduced or removed. I have been a customer with them for 12 years and have my home mortgage with them. The "manager" I spoke with, Tom, said he was authorized to remove $84 of the charges. I told him that was less than I hoped but I would take it.
I asked him why so little and he explained about WAMU's "policy". I felt (and still feel) that the profit they make on overdraft charges is obscene (roughly $19.50 of the $21 is profit). I went on to say that I really felt that to charge such fees "just because they can" was really poor character, and I prefer not to do business with such companies.
Tom then told me that he was withdrawing his "offer" to remove $84 in fees. I am now awaiting a call from a "senior manager".
I was not beligerent or rude or even loud, but I did make it clear that I thought WAMU was an insensitive company with no concern for its customers.
Scott
Oxnard, California
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