Washington Mutual
Inconsistent policies allow telephone bankers to process illegal transfers, charge nsf fees ripoff

Sent to Nick Monachio, Washington Mutual Telephone Banking Supervisor:

The follow letter relates to events over the week of Thursday, April 12. I requested and was denied a credit for two NSF fees relating to my not being able to transfer funds by phone as I had done in the past.
Due to the failure of Washington Mutual training and/or procedures my perception was that that I could transfer money from my business account to my personal account.

I found out that this is not only against Washington Mutual policy, but is actually illegal. It amazes me that I have successfully transferred funds in the past if it is against the law to do so. I need to know what Washington Mutual intends to do about this. It is unacceptable to have a system in place where only 1 in 3 times I was declined an illegal funds transfer.

It is NOT ok to have a system in place that places apparently arbitrary guidelines on customers, and penalizes them based on the inconsistent actions of Washington Mutual. Regardless of whether the action is illegal, Washington Mutual's allowing me to do transfer funds the first time gave the appearance of this being a valid and normal process. The NSF fees in question were not generated by my inaction. I was aware of the situation, and made an effort to correct it.

If Washington Mutual is unwilling to reverse the fees shown on my account I feel I have no choice but to do the following:
1. Take my business to a bank that is more accurate and consistent in their banking practices.
2. Do everything in my power to alert friends, family, and business associates that Washington Mutual is unyielding in its policies, both in person and on the Internet.
3. Inform the Federal Reserve Board that Washington Mutual has inconsistencies in its treatment of money transfers; furthermore that Washington Mutual's system allows transactions to take place that are illegal without any apparent warning alerting employees.
I am well aware that the threat of my leaving is, in the big picture, insignificant to Washington Mutual's business. I can only expect that someone at a corporate level realizes that Washington Mutual may be reaching a critical mass, one where people are fed up with the structures and policies that are making Washington Mutual a less-than-friendly banking institution.
My type of work brings me face-to-face with customers every day. I am very comfortable praising companies that exceed my expectations. I am equally comfortable talking about companies that do not.

In closing, I sincerely hope that these issues are dealt with in an efficient and timely manner. There is no reason whatsoever employees should be allowed to complete illegal transfers. Besides being against the law, it give your customers a false idea of what is allowed and what is not in the industry.

Company: Washington Mutual
Country: USA
State: Washington
City: Seattle
Address: 1301 Second Ave
Phone: 8007887000

  <     >