My husband opened an account with Washington Mutual recently. Only to our surprise they kept holding his PAYROLL check. But they didn't tell us this when we opened the account, so we were writing checks and being charged $32.00 each time. They would send a letter in the mail a week later saying that they were holding the funds due to "new customer relationship". Even though the payroll check was way more than the checks that were written. We were charged several hundred dollars for money that was in our account.
Example: We deposited money, our balance was $308.07, we wrote a check for $243.39. They say the funds "weren't available at the time of this transaction" so they charged $32.00 NSF fee, even though the deposit was CASH! Then they would try to clear the check twice, and so we were charged another $32.00 for money that was clearly in our account!
Don't bank with wa-mu! Free isn't free!
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