I went to Wamu and made a deposit for 7000.00 via the ATM and a hold was placed on the availability of the funds deposited , this is a normal proceedure . I was notified in writing that 4900.00 would be available on June 9th and the other 2000.00 would be available on June 14.(the deposit was made on june 7, 2006 ) . The letter also indicated specificly that I could write checks against the deposited funds after the dates indicated . I did just that called creditors ect and scheduled payments to clear or post on or around that day via check by phone . A few short days later I received another notice in the mail stating that the funds previously deposited were no longer going to be available on the dates indicated before the 4900.00 was also going to be held also until the 14th . The reason stated more time was needed to verify the check deposited . And after the 14th I could then write checks against the account .
The check deposited was actually a loan from Benifical Bank, A local Bank , that has a very high interest rate but at the time we were starting to struggle with our bills due to medical issues so it seemed worth it to try and save our credit and buy ourselves some time to recover , Well it didnt work out that way. As soon as I received the new notice I immediately contacted Wamu and explained how i had already had scheduled payments with creditor scheduling them to post on the 9th as indicated in writing previously . I explained that this new hold date would cause me to bounce several thousands of dollars worth of checks the responce I got was there was nothing they could do ,Deal with it . So I did , And i called all the creditors that I wrote checks to explained the situation , and asked them to please redeposit the payments on the 14th that the funds would for sure be there then after all it was a loan check that i deposited . This by the way cost me hundreds of dollars in NSF FEES also caused me to occur hundreds of dollars in late fees .
But it doesnt end there On June 14th I receive another notice from Wamu that stated now they were not going to honnor the check at all Reson stated it was a non-negotible item due to the fact that it exceeded the daily limit of 5000.00 for funds depostited into an ATM. Machine . No where can i find in writing does it say that there is a daily limit of funds deposited via ATM , furthermore this was a obvious thing from Day one therefore it should not have taken them over a week to figure out that it exceeded this limit . I now had 7000.00 in NSF checks about to post . Wamu Did not honnor this check .
I contacted Benifical Bank they said that there is no indication that Wamu ever tried to deposit the check and there was no reason for the check not to have cleared and offered to send a new check for the same amount for us to redeposit, I accepted this offer and a few days later received a new loan check for 7000.00 and this time went into the Wamu Fairfeild branch since I was headed out of town and deposited the new check on June 29 2006 . There was another hold placed on the check because it was not the original branch where I opened the account but after 3 days this check cleared .
As soon as the deposit was made Wamu hit me with aprox 1425.00 in NSF Fees alone out of 32 checks deposited on 13 were honored the banks actions caused me to occur thousands of dollars in fees ultimately resulting in 11 closed accounts 4 of them were with Wamu it also caused me to have 2 lawsuits filed agaist us for bad checks , It also caused my house to go into preforclosure ( I was already 30 days behind when I decided to cash the loan check ) after bouncing the payments I made to all my creditors everyone refused to take checks from us any longer . This cost us an extra 400 dollars in quickcollect fees and to save the house cost us 14000.00 in legal , Late and past due payments cuased our close to 700 fica score to drop below 500 and for 2 different counties to have at the Attorney Generals office bounced checks requesting that i attend a Bad check class and pay an additional 150.00 in fees it also caused my husband and i to have martial problems resulting in 400.00 in legal seperation fees and the list goes on and yes I have all the pappers that prove everything I say .
Let me just mention by the way that I had a Wamu free check a Platinum checking , Wamu Visa credit card , Providian Credit card (now owned by Wamu ) and a Home loan with Wamu . All in which they after taking allmost all my money in fees then closed all the accounts except our home loan and refunded 1001.00 when closing the account rather than applying them to some of the checks .

Updated On: Tuesday, November 13, 2007

I also wanted to add that I was just recently hit with a lawsuit for the 7000.00 loan check from beneficial bank due to go to court in Dec. Since I obviously became unable to repay the loan , I did not even really get to use the loan just charged for it and also want to add that the impact of these actions caused my credit score to drop so low that now in this economy I am unable to qualify for a refinancing loan on the condo I do still own and finance through Wamu , I put 50,000.00 down on this property and now will probably loose it because my credit and the slow economy .

Updated On: Tuesday, November 13, 2007