Comments on: Washington Mutual = Stupid

By: Jeff

Jeff — Wed, 10 Sep 2008 01:37:23 +0000

For those that still think that the gov’t requires separate charters state-by-state you’ve been fed a load — it’s not true. I work for a bank (they suck too) that will allow you to open accounts (and use them) across the states we serve.

My bank, too, started out as several smaller banks but integrated several years ago. Short story: it’s a failing of WaMu, not the Feds.

By: Aaron

Aaron — Wed, 13 Aug 2008 17:42:17 +0000

It looks like banks are like cell phone companies: everyone hates the one they have.

By: liz

liz — Wed, 13 Aug 2008 17:22:47 +0000

Not to add insult to injury, but we have BOFA and it sucks. In fact, they require you to have the face of an ass in order to open an account.

By: peter

peter — Wed, 06 Aug 2008 20:04:30 +0000

it is the same with Bank of America in that you are constantly required to know what state the account was started in, but I have my savings and 2 checking accounts linked under one online account - one in FL one in VA. I generally like BOA. Before when I had a company account with WAMU i liked them too. They tend to be customer focused - i’m surprised this has been such a pain for you.

By: Aaron

Aaron — Wed, 06 Aug 2008 01:49:20 +0000

Interesting that you have to add a WaMu account as an external account to gain some access. That’s totally logical. I’ll give it a try, thanks Roland.

By: Roland

Roland — Wed, 06 Aug 2008 01:12:09 +0000

I’ve had the same problem with WaMu. Try this: establish a separate online banking login at wamu.com for each of the accounts (it’s weird that even though you cannot manage all the accounts under a single login name, you still log in to the different accounts/systems from the same main page.) Then, add one of the WaMu accounts as an “external account” (under Transfers I think) from the other WaMu account. This mechanism allows you to link your WaMu account to any other bank account anywhere, much the same way as you do with services like PayPal.

By: Aaron

Aaron — Tue, 05 Aug 2008 19:29:38 +0000

I just fail to see why their system is set up, regardless of the legality of their ownership, that all of my accounts cannot be managed by a single account interface. That’s just bad planning and design. They have no problem billing me correctly, or multiple times for the same event or service, but they have a problem making banking with them easier to accomplish.

By: Aaron

Aaron — Tue, 05 Aug 2008 19:23:35 +0000

To the guy who just commented with all the expletives and name calling, you’ve totally convinced me I’m wrong. I will stick with WaMu!

By: Shawn

Shawn — Tue, 05 Aug 2008 15:26:06 +0000

Bank of America is worse. They can’t link washington to oregon. All banks are set up as multiple companies with the same problems. If you switch to BOA won’t you have the same problems with vendors, direct withdraws and the like?

By: Aaron

Aaron — Tue, 05 Aug 2008 15:25:30 +0000

Good idea David, maybe I’ll do that.

By: David Brown

David Brown — Tue, 05 Aug 2008 13:26:05 +0000

Hey - I can relate. I have a commerce bank account a started at 2 Wall Street. I now live back at my hometown in suburban Philadelphia. Instead of closing them immediately, why don’t you just transistion gradually. It just seems like the hassle you are referring to will occur because of the large amount of communication necessary to ensure proper transfer of all information to relevant parties. Simply start an account and everytime, moving forward, you do something, use the new account. Whenever you see a transaction which is automated or pre-processed for the old account, simply call the company and tell them you have new information. If you follow this methodology, you won’t be so stressed about this terrible transistion.

By: Matt

Matt — Tue, 05 Aug 2008 12:59:14 +0000

Bank of America is the same as far as account origination and enduring the pains of relocating. Special deposit slips are required if you started an account in one state and move to another, special this and that, circle here check there. They are even worse because of all their crappy fees! Boo Bank of America. Oh and try to close an account with them and they will assess fees between the time you pay the last fee and the time they “close” your account. Its a never ending process. I’m not talking overdraft fees or fees associated with poor banking practices…just the normal every day fees.

By: Aaron

Aaron — Tue, 05 Aug 2008 05:52:55 +0000

So, I have to stay with WaMu because they fail to have a system in place that handles what they know will happen since they are required to be several companies? That may be worse. The government is not mandating that they not allow customers who move to new locations to consolidate or openly manage their accounts. I don’t care if McDonald’s is franchised and owned by different people from around the world, but if I buy a gift certificate that says McDonald’s, McDonald’s had best honor it, regardless of where I bought it.

Tell me again that I shouldn’t leave WaMu for whatever reason I may have, regardless of how logical or illogical it may be.

By: Gianni Franco

Gianni Franco — Tue, 05 Aug 2008 05:24:56 +0000

Wamu did not decide to be several companies. The federal government requires this of banks. The banking industry is heavily regulated by the federal government. if you open up a bank of america account in north carolina and then move to california, you will find yourself in the same predicament. I understand your frustration, but really, that in and of itself is probably not a good enough reason to leave wamu.

By: Chris Jackson

Chris Jackson — Mon, 04 Aug 2008 23:28:00 +0000

Thanks, President Andrew Jackson, for making sure our banking system is still messy two hundred years later!

By: J.Ipjian

J.Ipjian — Mon, 04 Aug 2008 23:08:52 +0000

Woo hoo