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Old 26.09.2007, 19:21
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fduvall fduvall is offline
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Re: To the Americans: Wamu Bank is an ex-pats best friend

I remember Wells Fargo did this to me years ago...

Thought it was MORE than coincidental that the largest check just HAPPENED to come in first, allowing a bunch of smaller ones to overdraw

WAMU/WF/BofA...they all suck in their own way...

Best way to avoid them...GET RICH!

fduvall

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I always get charged transfer fees and pointless little charges with my WaMu checking account. I liked them while I lived in the US, but I'm growing to hate them now that I've been here.

Also, their entire business model (a successful one at that) is centered around charging 30 bucks for a 50 cent overdraw. That's why the checking is "free", and they don't offer the option anymore to have charges denied if there's not enough funds, so they can continue to collect the overdraft charges. The company is a damn nightmare for poorer folks in the US who get drawn in by the "100% free checking" spiel and end up paying hundreds a year in fees for miniscule overdrafts.

They've also been accused of altering the order of charges in order to maximize overdraft fees. If you have, say 50 bucks in your account, and you make a charge for 5 dollars, 2 dollars, and 55 dollars, in that order, they'll post the 55 dollar one first so you overdraw 3 times, instead of just the one time you would have overdrawn had the charges been done in order.



I also have a Credit Union account, and I couldn't be happier with the service. So yes.
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