Complaint / Review
Washinton Mutual Bank
WAMU is penalizing individuals who want to cash a check drawn on WAMU with a 5.00 fee

I'm self employed and receive personal checks for my services.

I was written a check by a customer who banks with WAMU.
Since I'm a bit nervous about WAMU's reliability, as well as needing immediate cash myself, I presented the check for cashing to a WAMU teller.

I was informed by the teller that since November a fee had been implemented for cashing personal checks that draw on WAMU bank.

I don't hold a WAMU account, but have adequate identification. I can see charging a fee for cashing any old check, but not a check that draws on their bank. They are obligated to honor checks written by their depositors, no fee included.

I was told If I would have just deposited the check, they would have charged no fee. I asked for the justification for this ridiculous fee. The manager made several excuses, everytime I demonstrated it wasn't justified she produced another excuse, including:

"we charge this fee to recover for services we provide to cash the check" "You charge for honoring your own checks?" I asked. "that's not an unusual service, honoring your own checks" I said.

"well actually, we are trying to encourage people to use their banks" said the manager. "It's not a crime to present the check for cash" I said. "Some people don't have bank acounts. What about those people? You are punishing them for having to cash the check. A check that draws on your bank." She mumbled away about not having made the policy. (the usual clap trap you hear when they run out of excuses in their defense of the policy)

These bank people would represent as criminals those that have no account and MUST cash the check, simply prefer cash, or for whatever reason, need the cash now, not in "up to 5 days".

There's no valid justification for this fee, It's just a penalty for the bank not getting their own way. ("their way" is them being allowed to delay honoring the check at least for 24 hrs)

This isn't business as usual. They are refusing to honor checks drawn on their bank unless you pay a $5 fee. It's extortion, especially for people who don't have an account for whatever reason.

For now I recommend that people refuse to accept WAMU checks as payment. I certainly will be. Wamu seems unstable and is taking desperate measures of questionable legality.