its not one penny is over $2.00 i have tried that my self I am expert and CITI does not do that butit is an option! or they can automaticly get it from your savings acct.
man they woulnt charge you O.D. FEES if you just budget your account if you do that from the beggining you wouldnt get O.D. FEES i mean i had O.D. FEES aswell but just budget the freaking account
The banks should not be allowing transactions to process if you have no money. This should be a service that when you open up your bank account, you sign and enroll.
washington mutual and all banks pay fees to mastercard or visa(whichever they use). so when you use ur card, wamu is being charged for giving you access. when someone "abuses" the card by going over their limit, wamu (and other banks) still has to honor that transaction b/c of their agreement with the card company. So instead of being declined at the supermarket for food, or at the gas station when you car is on empty, you are allowed to make your purchase and hopefully save u some embarrasment
This is just like any other business. If you stay at a hotel and stay over the time you signed up for...you will be charged for the additional time you used. The basis of anyone trying to argue saying "wamu's overdraft fee's are horrible!" is extremely irresponsible. Instead of taking action for the transactions you do, not taking note of them, then overdrafting, is 100% the responsibility of the customer. If the account is low, it is not a bank's place to inform YOU that you could overdfraft
By overdfrafting the account, which is sad that you are doing...is nearly forcing the bank to give you a line of credit. Credit in which you do not have, and you do not want to get charged for. Even if you overdfraft 50 cents or even $50, you are taking money that isn't in the account. Which is pretty much a lack of responsibility if you can't balance. Especially with all the recourses you have to help you balance. Check registers, online banking, telephone banking, branch banking and even ATM.
Wow. I read the whole entire list of replies to this video. I laughed nearly the entire time. Has anyone thought of it this way...If you over draft even $1...you are currently using $1 that isn't yours. You are using the bank's money. When you signed up for the account, in the statement regulations and disclosures, the overdraft policy is everywhere. When you signed up for the account, you not only signed for the account, but also to accept whatever is in the statement regulations & disclosures.
For...? If you want overdraft protection, they have it. Get a savings and link the checking to it so if you do go overdraft, it pulls from the savings and only charges you $12 instead of a $33 overdraft fee. There are ways to get around overdraft fee's. You just need to actually ask about it. Or if you truly need more overdraft coverage, they do offer ODLOC's (overdraft lines of credit) in which your overdraft activity goes straight to the "ODLOC", only fee's are on the interest and annual fee
there's a recurring problem of wamu ignoring requests to remove overdraft protection. if you look up complaints against wamu at ripoffreport, you'll also find people who were in GREAT standing, then wamu made an error that took money from their checking instead of savings. when they asked for wamu to fix what happened/restore balances, wamu refused to accept responsibility. there is a history of wamu customer service refusing to refund money to people that was taken on account of a banking error
Please look up "usury" & tell me how charging people fees to access their own money, signing them up for services like overdraft protection but refusing to remove this feature (i wonder why), and charging money just to use another bank's atm (if you use a bank of america atm, B of A charges you $2 and then you get another $2 taken by WaMu at the end of your monthly statement)is not usury?
Washington Mutual "banks" on their customers living paycheck to paycheck.
ok. first off ur dumb as hell. u have a ledger balance and an available balance. YOU have to go by the amount of money in your available balance. Thats what you can spend and it will reflect on your recepit when you deposit. (unless its in an ATM machine, then you only get $100 immediate credit). so only spend what you have as available balance and youll be fine. second off, with the wamu free checking account, wamu doesnt charge you for using other banks atm's if so,you can have those waived!~
i get charged when i use bank of america. i have a washington mutual account. this is how i know this.
i'm not dumb, i have a master's degree and i'm beginning another master's program. i was not fortunate enough to be born rich and i have to pay my own way. i work 60 hrs a week but am still living paycheck to paycheck a lot of the time. i understand how to save but you cannot save if your expenses outweigh your income. it's really hard to pay for school and go to school at the same time.
it's not a matter of you spending money you don't have. it's a matter of their predatory computerized banking policies. basically they count debits BEFORE they count credits, in some cases even when a check is deposited days BEFORE you take out a significantly smaller amount of money.
here's an example: Mr. Smith has $1 in his bank account. On Monday morning he deposits a check for $999. His statement now says he has $800 of available funds and $1,000 as a current balance. So he spends $50 on groceries Monday night, and then $50 paying his electricity bill online. Tuesday morning he checks his bank statement online.
To his shock and horror, they have the transactions listed in this order:
Grocery store = $50, with an accompanying $38 overdraft fee.
Electric bill = $50, with an accompanying $38 overdraft fee.
He is listed as being $175 overdrawn. ($99 = the 2 debit transactions minus the $1 he had in his account, and two $38 charges = $76, so 99 + 76 = 175).
Then, his check for $1,000 is credited, but $175 has been subtracted to cover Mr. Smith's overdraft charges and purchases. So now Mr. Smith has less of his money in the bank.
its not one penny is over $2.00 i have tried that my self I am expert and CITI does not do that butit is an option! or they can automaticly get it from your savings acct.
hms6114 3 years ago
man they woulnt charge you O.D. FEES if you just budget your account if you do that from the beggining you wouldnt get O.D. FEES i mean i had O.D. FEES aswell but just budget the freaking account
henloy 3 years ago
The banks should not be allowing transactions to process if you have no money. This should be a service that when you open up your bank account, you sign and enroll.
Gentilejedi 2 years ago
thats true
henloy 2 years ago
washington mutual and all banks pay fees to mastercard or visa(whichever they use). so when you use ur card, wamu is being charged for giving you access. when someone "abuses" the card by going over their limit, wamu (and other banks) still has to honor that transaction b/c of their agreement with the card company. So instead of being declined at the supermarket for food, or at the gas station when you car is on empty, you are allowed to make your purchase and hopefully save u some embarrasment
aartiji 3 years ago
Washington Mutual won't last the week.
Richard S Fuld...Lehman Bros Chairman!
This cracker should have sought advice from WU TANG FINANCIAL.
"Diversify ya bonds, nigga!"
Protect ya neck!
UncleRico13 3 years ago
Also, by "itmeantnothing" - your user name is ironic. Because it also applies to your schooling. Obviously didn't teach ya much.
horrorjunkie1 3 years ago
This is just like any other business. If you stay at a hotel and stay over the time you signed up for...you will be charged for the additional time you used. The basis of anyone trying to argue saying "wamu's overdraft fee's are horrible!" is extremely irresponsible. Instead of taking action for the transactions you do, not taking note of them, then overdrafting, is 100% the responsibility of the customer. If the account is low, it is not a bank's place to inform YOU that you could overdfraft
horrorjunkie1 3 years ago
By overdfrafting the account, which is sad that you are doing...is nearly forcing the bank to give you a line of credit. Credit in which you do not have, and you do not want to get charged for. Even if you overdfraft 50 cents or even $50, you are taking money that isn't in the account. Which is pretty much a lack of responsibility if you can't balance. Especially with all the recourses you have to help you balance. Check registers, online banking, telephone banking, branch banking and even ATM.
horrorjunkie1 3 years ago
Wow. I read the whole entire list of replies to this video. I laughed nearly the entire time. Has anyone thought of it this way...If you over draft even $1...you are currently using $1 that isn't yours. You are using the bank's money. When you signed up for the account, in the statement regulations and disclosures, the overdraft policy is everywhere. When you signed up for the account, you not only signed for the account, but also to accept whatever is in the statement regulations & disclosures.
horrorjunkie1 3 years ago
"you are using $1 that isn't yours."
the bank uses my money all the time...
itmeantnothing 3 years ago
For...? If you want overdraft protection, they have it. Get a savings and link the checking to it so if you do go overdraft, it pulls from the savings and only charges you $12 instead of a $33 overdraft fee. There are ways to get around overdraft fee's. You just need to actually ask about it. Or if you truly need more overdraft coverage, they do offer ODLOC's (overdraft lines of credit) in which your overdraft activity goes straight to the "ODLOC", only fee's are on the interest and annual fee
horrorjunkie1 3 years ago
there's a recurring problem of wamu ignoring requests to remove overdraft protection. if you look up complaints against wamu at ripoffreport, you'll also find people who were in GREAT standing, then wamu made an error that took money from their checking instead of savings. when they asked for wamu to fix what happened/restore balances, wamu refused to accept responsibility. there is a history of wamu customer service refusing to refund money to people that was taken on account of a banking error
itmeantnothing 3 years ago
To the people defending Wamu:
Please look up "usury" & tell me how charging people fees to access their own money, signing them up for services like overdraft protection but refusing to remove this feature (i wonder why), and charging money just to use another bank's atm (if you use a bank of america atm, B of A charges you $2 and then you get another $2 taken by WaMu at the end of your monthly statement)is not usury?
Washington Mutual "banks" on their customers living paycheck to paycheck.
itmeantnothing 3 years ago
ok. first off ur dumb as hell. u have a ledger balance and an available balance. YOU have to go by the amount of money in your available balance. Thats what you can spend and it will reflect on your recepit when you deposit. (unless its in an ATM machine, then you only get $100 immediate credit). so only spend what you have as available balance and youll be fine. second off, with the wamu free checking account, wamu doesnt charge you for using other banks atm's if so,you can have those waived!~
nornamtsa45 3 years ago
i get charged when i use bank of america. i have a washington mutual account. this is how i know this.
i'm not dumb, i have a master's degree and i'm beginning another master's program. i was not fortunate enough to be born rich and i have to pay my own way. i work 60 hrs a week but am still living paycheck to paycheck a lot of the time. i understand how to save but you cannot save if your expenses outweigh your income. it's really hard to pay for school and go to school at the same time.
itmeantnothing 3 years ago
ur a dipshit. ur still gonna get the fees without having the overdraft protection. dont be a dummy, dont spend whatever money you dont have
nornamtsa45 3 years ago
it's not a matter of you spending money you don't have. it's a matter of their predatory computerized banking policies. basically they count debits BEFORE they count credits, in some cases even when a check is deposited days BEFORE you take out a significantly smaller amount of money.
itmeantnothing 3 years ago
here's an example: Mr. Smith has $1 in his bank account. On Monday morning he deposits a check for $999. His statement now says he has $800 of available funds and $1,000 as a current balance. So he spends $50 on groceries Monday night, and then $50 paying his electricity bill online. Tuesday morning he checks his bank statement online.
itmeantnothing 3 years ago
To his shock and horror, they have the transactions listed in this order:
Grocery store = $50, with an accompanying $38 overdraft fee.
Electric bill = $50, with an accompanying $38 overdraft fee.
He is listed as being $175 overdrawn. ($99 = the 2 debit transactions minus the $1 he had in his account, and two $38 charges = $76, so 99 + 76 = 175).
itmeantnothing 3 years ago
Then, his check for $1,000 is credited, but $175 has been subtracted to cover Mr. Smith's overdraft charges and purchases. So now Mr. Smith has less of his money in the bank.
itmeantnothing 3 years ago
I work in a bank you know how many times I want to tell people same thing you just said
punkroxs 3 years ago 4