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It's Criminal What Banks Do! Would Like Your Opinion

Mother F*ck.

I have a fairly new bank account with Washington Mutual (WaMu). So I went to my online bank account to set up payments for various bills the other day. The dates for payment were carefully selected by me to coincide with the dates and amount of income/direct deposits I had coming in. There was a conservative period I established to ensure when checks were expected to clear, so there were would be no issues between money in and money out.

Sidebar: I'm just like every other slob working paycheck to paycheck. You have to plan these things carefully.

So get this...

The Bastard WaMu bank DEDUCTS alllllllllllllllllll the checks as "debits" on the DATE I entered them, not the date the checks were cashed. In fact, none of the checks are in the hands of the recipients yet... it's only been ONE DAY since I entered them. In other words, they "took" my money and are "holding" it as if the payee already received, signed the check and turned it over.


I say... what WaMu is doing is surely illegal! The bank is holding money, earning interest on it... it's wrong. It's wrong wrong wrong!

So I get an email today that my account is overdrawn. I IMMEDIATELY called the hotline and got some snippy self-righteous bitch in customer service. Why are they always so snitty? Who hires these insensitive wenches? And I hate when they call me Ma'am - that "pretend" politeness and it's such a nasal-sounding word coming from a woman.. "Maaaaaaaaa'aaaaaaam"...

So the bimbo, who's trying to act all knowledgeable and bank representative-y says to me... "Well, Ma'am, it is written in your terms and conditions which you signed when you opened your account. It CLEARLY states that this is how we do business."

The emphasis on the word CLEARLY was so damn condescending.

So I said, "Well, if it were sooooooooo CAH-LEAR we wouldn't be having this problem or this conversation right now... NOW would we, Peaches?"

"Ma'am... I'm sorry, BUT..."

"YOU'RE NOT SORRY! What a waste of breath to call you!"

Oh bother. Click.

I got no where.

I am livid! I think that this either IS or should be illegal.

Am I seeing this incorrectly? Who do I complain to if this is a valid complaint? Anyone in banking gots something to say?

Word to other Po' folk like me: Be forewarned... this is a banking practice I've NEVER seen before and I've done online banking since the early 1990s with other banks and they always deducted money AFTER the checks were cashed by the recipients, never before.

I'm pissed... so f'ing 'A pissed! I now have NO money in my bank account, PLUS negative charges for OVERDRAFTs at $34 per pop, times 3 or 4 events. The bank wouldn't remove the overdraft fees because I guess I'm just stupid and didn't read the fine print on the Ts and Cs.


mavis sidebottom said...

My Bank will put a hold on friday on money due to go out on monday through direct debits, I find this highly annoying as often there is extra money going in on the monday to cover the DD's and I am left short over the weekend for no good reason

Jilly said...

i get paid DD but i write checks and mail the slow way because of these issues. i had a problem with bank of america and i just kept asking to speak to someone higher up the chain until i heard something i wanted to hear from someone. when the bitch on the phone promised that no negative effects would hit my account, i insisted to have it in writing. she said they don't issue things in writing, but gave me the call# and said that all their calls are recorded and storesd. she could have been fucking with me, but i took the number down just in case.
i find i get better service at the state credit union than i have ever gotten at bank of america.

find a new bank and question the hell out of them about DD and online banking, then call bambi back at wamu and switch accounts and MAKE SURE everyone there has to hear it's because of bambi's attitude mixed with the shitty policy that you're leaving. banks will be begging for customers pretty soon.


Roger D. Curry said...

Darling, all three of your recent posts require responses, which I will write in the Fullness of Time. This being the first day of Holy Week, this post is the one which cries out with the greatest immediacy.

I turn now to Apochryphal Scripture, the Book of Camels & Needles' Eyes, the third chapter:

Yea, saith the Prophet, the moneychangers shall roll thee over and rape thee. Not once, not twice, nor even thrice, but times without ceasing. They shall heap usury upon usury but piously declare upon the very steps of the Temple, no, no, these are fees and rightously proper, though those words cover their usury no better than a mustard seed covers an ass. And speaking of asses, thine will become red and sore and thou shalt weep, but the moneychangers cannot hear through their laughter. Thus it shall continue as long as the people shall permit.

Thus saith the Lord.

Anonymous said...

Doreen- This is how online banking works. Money is deducted before the checks are actually cashed. But there should have been a place for you to put a date when you wanted the money actually deducted. Simply put, you fucked up. But they should have waived you the charges considering it was your first time doing this and "clearly" didn't have a clue. -blu

Mat said...

WaMu?? Sounds more like a YMCA summer camp that a banking institution.

Anonymous said...

What the hell were you thinking opening an account with WaMu?? Seriously, they were one of the most problematic banks with this big banking disaster.

I have Bank of America, and I have never had a problem with online bill pay. I set all of my stuff to come out the day after payday, and that is when it's deducted from my account. I have bills that I pay every month, that I've got the information for the checks to go out months ahead of time - right up until when the debt is paid. The only time I've ever had a problem was when the Direct Deposit at my job screwed up, and they had to issue us paper checks. I just called BoA, explained what happened, and they reversed the overdraft fees. That was when I started setting everything to draft from my account the day AFTER payday instead of on.