Washington Mutual
Is a ripoff. They make money off of changing the order of your transactions

Business & Finance

I have been banking with washington mutual for several years. Over the past year, my local branch closed and I noticed that they had suddenly started playing with the order of my transactions.

They hold my debits. On the 15th they move money from my checkings to savings (a requirement to have a free checking account at the time I signed up). Then they put through my debits for the past week to two weeks from largest to smallest.

This causes every single "following" charge to bounce and they collect $32 on each bounce.

Should I handle my finances better? Absolutely.
However, I do not htink it okay for them to bounce 5 - 7 items when if they did it in the order of the charges only 1 would have bounced.

How do I know they do it on purpose? Online, it tells you the exact minute that each charge is entered and they are always entered back to back 12:01: 30,12:02: 00,12:02: 30 etc.

It makes me sick to think of the thousands! Of dollars I lost this way over the past few months before I noticed what they were doing.


Company: Washington Mutual
Country: USA
State: Georgia
City: Kennesaw
  <     >  

RELATED COMPLAINTS

Wachovia
Debits Reordered Largest First to Maximize Overdraft Fees

Washington Mutual
JP Morgan Chase Bank Outrageous banking practices! Arbitrarily closing accounts, chargins HUNDREDS of dollars in made-up fees, over $500 taken out of my personal account in ONE WEEK. Concord

Washington Mutual
Ripoff, Charges false fees and makes erroneous reports to chexsystems

Chase Bank
Debit Order Rearranged Largest First to Trigger NSF Fees

Chase
Manager Says Largest Debits Clear First, Causing Six Overdraft Fees

Chase Bank JP Morgan
Ten overdraft fees after transactions reordered largest first

Washington Mutual
In financial trouble and passing it along to customers

US Bank
Pending Transactions Held While Small Transaction Bounced With Fee

Washington Mutual
Ripoff Tampering with transaction order costing me hundreds of $ a yea

Washington Mutual Bank
Wamu will pull money from your acct with out your authorization houston texas