Woodforest National Bank Informative - Aviod Woodforest National Bank

Posted by tjhooker90 on 2006-08-13:

That is an awesome idea. But, unfortunately, Woodforest does not have ATM machines that allow you to deposit money into your account. All they have is a night drop. There is no drive through or anything either. It is an "in store" bank located in most of the Wal Marts in Texas.
Thanks for the comment!!

Posted by Anonymous on 2006-08-13:

I think the problem is that he (she?) wants the check deposited with no hold placed. In other words, the bank should float him a loan on every deposit while the check clears. It's OK to ask for this, but not OK to complain when someone has to authorize special treatment.

Posted by tjhooker90 on 2006-08-14:

In response to KenPopcorn, the whole check deposit thing was NOT the only problem. It was just the mose annoting problem. I have used many banks, and I never had any problems till Woodforest. I understand putting a check on hold, to a point. But it was more the attitide I got from the tellers and from the manager who had to do the override. In NO WAY did I think I deserved special treatment.

Posted by tjhooker90 on 2006-08-14:

LOL! I DO know how to spell.

Posted by YFraga on 2006-09-16:

I work at Woodforest National Bank and I wanted to apologize for your experience with Woodforest. Our methods of banking are for safety resons to better serve you as our client. It may take time to do a deposit but sometimes our tellers just have a limit they have to keep. I can tell you as a teller I see many clients and customers who appreciate what we do because they understand that we are only trying to keep their accounts safe.

Posted by Shannie on 2006-09-17:

I too work at Woodforest and I have to say I totally disagree with you. The tellers do have a limit they have to be conscious of. If it is over their limit they must get it approved before going ahead. This protects us and you. If that check comes back for whatever reason you are held liable!! That also means if you don't pay it back, then we have to take it as a loss. I do apologize for the inconvience you were put through, but please try to understand that we have those limits and place holds for good reasons. I am sure it had nothing to do with you having never written a bad check. We go by your average balance and whether or not we are familiar with that item. Ultimatly the decision if made by the manager.

Posted by amazon3607 on 2007-12-26:

I LOVE Woodforest Bank! We live on a tight budget, and Woodforest's online banking lets you see what is going to clear your account the next day.

When we deposit our paychecks , the money is available that instant. ( we are in Ohio, if that makes a difference)We have never had a waiting period put on any deposit that we have made. the tellers are friendly and having a bank that is open evenings and weekends is a lifesaver for us with our work schedules.

Woodforest also has free checking with interest & free checks too if you are over 50. this bank is the BEST

I was going crazy with key Bank and getting charged for overdrafts that did not make sense. I have not had an overdraft or fee since switching to Woodforest over a year ago.

Posted by Comon Sense on 2008-01-22:

Woodforest is a great bank that treats people from ALL backgrounds with dignity and respect. Not just the wealthy people like other banks do. I have banked with them for years and cannot imagine this issue being anything more than you wanting them to make exceptions for you that they clearly state in their disclosures that they cannot make. My guess is that you did not have enough money in your account to cover the check that you tried to cash or deposit and that is why they needed to get it verified or out it on hold. Since my deposits are immediately accessible I would imagine yours are too. If you cash/deposit a check that you cannot cover with your own funds, should it be fake, you not only leave yourself open to problems but the bank is also stuck trying to recoup the loss. My question to you is WHY DO YOU FEEL YOU DESERVE SPECIAL TREATMENT...IF YOU READ THE DISCLOSURE YOU WOULD KNOW WHY THIS HAPPENS AND WHY IT IS IN NOT ONLY THE BANK'S BEST INTEREST BUT YOURS AS WELL. I am certain that EVERY bank out there has a policy in place that puts unverified deposits on hold. Stop picking on this BANK and find a hobby. Maybe one that pays you so that you can keep enough money in your account to allow your checks to clear...and one more thing PROOF READING IS AN AWESOME TOOL!

Posted by Cracker56 on 2008-01-24:

I feel that the whole Woodforest operation is shameful. They claim to want to help people and give them a "second chance", but really they target people who have no money handling skills to get rich off the fees. The reason they have to put a hold on the majority of the deposits is because over half their clientel have been previously reported for different kinds of checking account abuse. (which is why they bank at Woodforest to begin with, no other bank will take them.) In turn, everyone pays the price. It's so bad in my area that there are actually businesses with signs posted that say "will not accept checks from Woodforest National Bank". That's pretty bad publicity when a business would rather not get any money than take a chance on a Woodforest check.

Posted by Chainsaw on 2008-03-14:

Would like to know if anyone has purchased a money order from WoodForest Bank for $25.00 or less, and tried to get a refund on it if lost or stolen?

Posted by mrctx on 2008-06-10:

I have done business with a lot of banks, Woodforest is without a doubt the worst. They hold checks (some of which are drawn on the largest financial institutions in the country) for unreasonable periods, and have excessive fees. They even charge $12.95 for the debit card (which at other banks if free). They hold checks for 11 business days (in real time, about 2 and a half weeks). This no doubt fattens the deposits they have to show investors and the like. Don't buy the bits about "for the safety of the consumer", etc. Banks are out to make money, and Woodforest is the most blatant. They make huge profits from their Second Chance banking (ie., "second class banking"). It is just a matter of taking advantage of the disadvantaged. Managment and employees are usually not much more than teenagers, that should tell you something. As someone else said once, you'd be better off using money orders and a piggy bank than doing business with Woodforest.

Posted by kilroy on 2008-06-12:

In response to mrctx:
$12.00 is the annual fee for the Debit Mastercard. Why the fee when most other banks offer their card free? No hidden charges for using the card. Use it as a debit (to receive cash back at the register) or credit - no extra charges. Use it at a foreign ATM (not a Woodforest Bank atm) there is a charge, like most banks do. Most banks, however, will charge you to use your card as a debit (foreign atm fee) and some even charge .25 to .50 cents per purchase using the card as credit. Use your card as much as I do and this will add up to more than the $12 annual fee. Also, WNB allows it's customers to with draw up to $800 per day from the ATM, which is more than most other banks.

Holds are necessary part of banking. If banks just allowed anyone to come make a deposit regardless of the check (some fraudulent) they'd lose money. Check kiters, scam artist, people who have won some foreign lottery, deceased millionaires in Nigeria, and the usual mystery shopper are constantly trying to cash or deposit these types of checks. Banks have to look out for their customers and themselves.
Ultimately, all banks are in the business to make money. This is why most people start a business.

Posted by candlegirl on 2008-08-07:

I too bank with Woodforest and I have had no problems so far. All deposits are immediately available, even personal checks from out of state written to me. I agree that the staff seems kind of young but at the same time I see that at alot of banks these days. I remember once I had an automatic debit and coming out that I didn't have the money in bank to cover, but I also had an automatic deposit that was due that same day, it was a matter of what hit the bank first. Well as always when your short on money the bill comes first, it did put my account in the negative, but when the deposit hit, it just covered it and I wasn't charged an overdraft fee, something my last bank would have done. I also don't have that issue with it taking 3 or 4 weeks for my purchases to hit my account like my last bank, which is kinda what messes alot of people up, if a pruchase takes more than a few days to show up we tend to forget about them. Yes we should keep a balanced checkbook but most people don't even use enough checks anymore to bother, which is bad I admit. So far I love the bank, and it's people, and I pray that no problems arrive in the future, and if they do I hope I have the wisdom to know if they were due to actions of my own or if it were actually the banks fault.

Posted by uluvcaca2 on 2008-08-08:

tjhooker is a former employee bashing a former employer online. Online bashing of a former employer is weak. If there are customers with valid complaints or concerns that they feel the public should know that is one thing, but being a cry-baby after no longer working for a company is childish.

Posted by LandonP on 2009-01-11:

I am a Wood Forest account holder from Indiana. I work at Walmart, which makes it easy to deposit / withdraw money since the branch is located there. There open on Sundays, open til 8pm...

I have had the account for 3 months now, and never had any problem with them. Sure, they do charge a fee for second chance checking, but its only $9.00 a month, and really... It's worth it for the risk they take on these clients. If you choose direct deposit, like me, its only $7.00 a month.

Sure they charge a debit card fee (which is waived for me since I'm a Walmart employee), but that is also understandable as a part of the risk. Really, $12 per year is only $1 per month. If you cannot afford $1 per month, you don't need a bank account, because you don't make enough money to need one.

With my other bank, Charter One, they always jiped me every chance they got. One time I asked them if there where any pending transactions on my account... they said no... So I only deposit $20, and a $23.00 charge comes in. Automatic $40 overdraft fee for each day, which means that by the time they closed my account, I owed them $750 for going over $2.00, and that was my available balance, not current balance, which was $210 dollars.

A similar thing happened at Wood Forest, where my available balance fell $2.14 into the negative. I was so sure I would get an overdraft fee. It was negative on Friday night, and even on Tuesday morning when I made the deposit, it was still $2.14 negative. However, after depositing enough money, they covered the $2.14 charge and didn't access a fee.

That leads me to believe that they use overdraft only for accounts that have a current balance in the negative, instead of available balance, like any other bank.

Overall, I'm happy with Woodforest...

Posted by dansteel on 2009-02-13:

OK, I would say that it is fair to assume that most people don't fully understand the ins and outs of banking. Checks are placed on hold for a variety of reasons. If you bring in a check for $700.00 but all you ever have in your account is $10.00, it may be held. If your check deposits total more than $5000.00 in one day, the amount over the five grand can be held. Checks drawn of a bank from another state, or a check that can't be verified can be held. A good number of the country's largest financial institutions won't very checks, but they are quick to take taxpayer money. Woodforest won't be taking any of that taxpayer money, because they aren't publicly traded or owned. The only way to get their stock is to work for the company. Unfortunately, people's word isn't worth what it once used to be, so the necessary precautions need to be taken. But no one should expect special treatment at the sake of compromising a business's integrity. And remember, when everyone is special, no one is special.

Posted by truth squad on 2009-02-24:

Woodforest is the bomb!! Open 7 days a week... what other bank does that?... open late til 7pm in alabama...Where I live banks even close saturdays but not Woodforest they are open!

Posted by lovely09 on 2009-03-21:

to Cracker56 you are not correct on your information, I bank with woodforest and another reputable bank and Woodforest is not shameful, they do allow some of the s3cond chance clients the opportunity to open accounts when other banks will not but in this day and time even the riches person is having financial issues that have them in second chance situations so close your pie hole

Posted by trm123 on 2010-04-23:

I would just like to say that my Uncle is Robert Marling who is the C.E.O of WNB. He has worked very hard to take one branch and turn it into hundreds which is now very well known across the states. As most of you know on here this bank is the first to have started a lot of first time things like 24/7 banking. I don't like seeing my own families bank talked down on as if they are horrible people and their employees as well. I work at a bank (not WNB) and I get so tired of people ranting and raging at us for putting holds on large checks that they do not have the funds to cover. Here's my advice to you people who want to get on here and complain about these kind of actions banks take. GET OVER IT!!! It is a rule and procedure that we as tellers have to follow..b/c if we don't guess what it's on us and could cost us our job. It has nothing to do with you being a bad customer, writing bad checks, or anything of that nature, its solomn purpose it to protect you and the bank as a whole. Please find something better to do with your time than get on sites like this making a complete a$$ out of yourself and bashing other people's work ethic and maybe go out and make better use of your time. Every bank is going to have different procedures and not everybody is going to like the same bank that is why there are sooooo many to choose from but like I said make better use of your own time and don't make yourself look like an idiot for everyone to see. THANK YOU!!

Posted by SciTeach on 2010-08-01:

Woodforest bank typifies the worst in banking. Last week, every employee except 1 here in my local branch (Plano Walmart) resigned due to poor treatment by management. There is a fee for debit cards, account fees, check fees and fees for any teller service. This is a bank that derives its income from charging fees to lower income clients who don't know any better.

Posted by supermommy on 2011-10-26:

I am one of those second chance bankers and I am very disapointed to see how many on here think second chance= scum of the earth. You do not know what happened to these people and why they may have to have second chance. Especially now in this recession everyone is having trouble. Do not throw stones in a glass house. That being said I have banked with a lot of banks and Wood Forest and Washington Mutual are the best by far. Every other bank charges for every little thing. Chase you have to pay $1 to check your balance at an ATM or .35 to check it on the phone. BTW you cant talk to a customer service agent at Chase without calling the same number you call to check your balance so you have to pay .35 to get help with your account as well. And with any other bank if your payments come out even a second before your deposits are posted they over draft you. Wood Forest as long as it is in the same day you dont get charge anything. Also Wood Forest lets you link a savings account to your checking and if you overdraw your checking it takes from your savings for just $2 instead of a $40 over draft. They have great hours, nice employees and work with their customers. I have never once had them hold my check. Even out of state personal checks sent by my parents are posted right away. I think there is more to the story then the OP is telling.

Posted by HeidiR on 2011-11-18:

I agree with supermommy. I too have a second chance for reason I won't disclose but I am greatful for the second chance. And the tellers in my branch have always been great to me.

Posted by jahr on 2011-12-02:

what nobody seems to be mentioning here is that when banks hold your money (and to you dansteel, my deposit which was over $5000 and the whole thing held for 2 weeks) that money is put into a high interest float account, so while WNB is protecting itself, it's also making money on my money. BTW- the check which I deposited cleared that account the same day as I deposited it. I too find the customer service the worse I've ever dealt with in a bank.

Posted by Dave Tincher on 2012-01-27:

I had Woodforest ask for my I.D. one time when I purchased a money order? Also currently woodforest has $2500 canadian check I deposited on 12-26-11. The check is not bad but woodforest debited my account for $2500 and told me I will not have funds until 2-21-12..I have deposited canadian checks before with woodforest and I have been in busines 23 years and this never happened. Woodforest will not even inform me who is holding the money. I will have another account else where, and I am going to file a complaint real soon. This bank is playing a hedge on my money.