Washington Mutual Aggravation

When Washington Mutual, affectionately known as WaMu, went under last week we were assured this would cause no problems for existing account holders.

I beg to differ.

I have 2 WaMu accounts. On September 19 two large checks from the State of Texas were deposited.

A small check for only $100 was drawn on the first account and deposited into the 2nd account, that being the account I use for things like PayPal that I don't want to keep a lot of money in.

Today, September 29, I got a letter from WaMu telling me that I'd been assessed a $12 "Returned Deposit Item Fee" due to there being insufficient funds in the 1st account, that being the one in which a large deposit had been made 2 Friday's ago.

I then looked at my account online to learn I've been assessed a 2nd $12 fee which has been deducted as well as the original $100 check, which had been credited, but has now been debited from the 2nd account.

So, the other account, which has plenty of $ in it to cover the $100 check, has not had an overdraft fee or notice generated. So WaMu is charging the 2nd account a total of $24 dollars, claiming, even on the second attempt to run the check through, that there were still insufficient funds. Even though I could see, online, that there were.

Since it's all my money, I still have the $100. It just never left the 1st account. But I'm out the $24 in the second account. Which I'm fairly certain will be returned when I call and complain tomorrow.

The WaMu meltdown occurred right when this problem reared its ugly head. I suspect there is a connection.

When I opened the letter from WaMu I thought I'd just call them, since any other time there's been a problem they quickly fix it. Well. You call the toll-free number and get greeted with a cheery voice welcoming you to WaMu, now a proud part of Chase Bank. I was then asked to enter either my account number or the number on my debit card.

I tried the debit card first. Entered that, though it strained my eyes. Then I was asked to enter the last 4 digits of my S.S. card. Did so, to be told they didn't match. I was then asked to try again. Did so. Same result. Tried again, this time switching to the account number. Same result.

It was starting to annoy me, so I kept at it, a total of 7 times before I gave up. There is no way I incorrectly entered the numbers 7 times. Any other time I've called WaMu I instantly get through.

I've got the direct local number of my local WaMu guy. It was past banking hours. He'll get a call in the morning. I hope it doesn't make me cranky. If it does I guess I'll be joining all those other people who have withdrawn a total of multi $billions from WaMu, which is what hastened the meltdown and the Federal takeover.