I saw a couple of other similar complaints as I do so I thought it was worth complaining so people will not get caught off guard.
I received a 5% APY CD offer from Washington Mutual in September so I went ahead and signed up for it. I waited for micro deposits to show on my bank account for about three days but they never did so I had to email and call WaMu asking when they were going to make those deposits. Only did they then make the deposits and once I verified funding for the new account it took another three weeks for them to transfer my funds. Meanwhile I repeatedly called them and sent them emails to find out what was happening with the account, without any of their representatives giving me one single satisfying answer. It took about a month for the funds to be transferred and I actually did not realize that my rate had been lowered. I'm in law school and I was busy preparing for finals so when I received an email message that the funds had been transferred I naturally thought I would get the 5%.
I only found out that my rate is now 2.96% and I've been trying to get a hold of one of their product representatives via email, phone, what not but they all keep saying the same thing over and over and over that it cannot be changed because I failed to fund the account within 7 days.
I just think this kind of deceptive behaviors by financial institutes are what got us into this kind of mess that we are experiencing. I just wish that no one else falls for WaMu's deceptive offer. I don't think I will ever deal with the bank again once my account reaches its maturity.
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