I have maintained a checking account with a west coast bank for over 15 years, which i am very happy with.
Upon moving to Florida 3 years ago, I was in need of a local bank, I chose to open a savings account with washington mutual and retain my regular account at the west coast bank.
This was all working out great until 2 months ago when I needed to wire money to Hawaii, I was informed there was a $30 fee to make a transfer The eager Washinton Mutual agent advised me... If you open a checking account you can wire the money fee free, and the checking account is free checking.
I thought this would be great, As I am fee conscious.
The agent then took a few minutes and opened my new checking account asking me if I would like the account "Linked" to my current savings account.
I asked what does that mean? He said the two account would be accessed by the same card if one accont did not have funds it would come from the other. I again thought... Great!
2 days ago I went to my mail box and got a letter from Washinton Mutual that I was overdrawn 200 and some dollars, I gasp and run to the phone, "Well Sir, I'm sorry to inform you but you are over $400 overdrawn.
You see the 5.98 purchase at the gas station had a 32.00 fee, the 7.99 taco bell purchase had a 32.00 fee... On and on and on.
Now being that I had well enough money in my savings I was completely caught off gaurd. The Bank did offer to remove a charge (one for 32.00) So being a bit steamed,
I went in to my branch (Kendall) I was informed of MY error, And that I had to fill out the special form to have my account "Linked in that way" and they remove 3 more fees. Leaving me with only about 300 in fees to pay.
I guess she thought I should be greatful. Being that it was MY error. I should have known to only use the savings card to access my account.
This is how they provide free checking. I guess.
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