Wamu fradulent transaction policy

March 19th, 2009 Posted in Washington Mutual

My personal problem with Washington Mutual comes from how they charge debit card purchased and when they hit your account. Basically you have 3 types of purchases depending on where you order from. You accounts current and available balance may all be charged immediately, you may also have a pending debit in yellow for others, and finally some debits dont show up at all until days later.

If you use your debit card alot, you will at some point wonder what happened to charge you made at lunch on Wednesday and why you dont see anything about it until the following Tuesday. This practice sets customers up to forget about transactions made sometimes up to a week earlier. Though its the customers job to balance their checkbook and know how much money they’ve spent, why not have all debits come out the same way or show immediately just to save the hassle? You can actually make 1 transaction, use your card to make 10 more than transactions and later the 1st one posts 11th. They basically allow you to spend money you have already accounted for without knowing it.

It is just one of the many ways they go about getting making money off you, the customer. There is a reason they are in bankrupcy, many reasons actually.

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