Mt Washington Bank Complaint - I got mugged! - Banking
BOSTON, MA, MASSACHUSETTS -- Mt Washington Bank of Boston, MA has thus far stolen over $400 from me in bogus overdraft fees. I made a $7500 deposit 8 days ago. The check has yet to be cleared by Mt Washington yet they are allow monthly automatic payments that I have set up, go through and assessing me $30 for every transaction.
The same day I made the deposit at Mt Washington, I made an identical deposit with another local bank. The check cleared without issue 3 days later.
Mt Washington is stealing one from the old BoA handbook by holding checks as long as possible in order to rack up overdraft penalties. It is illegal and despicable. Since Mt Washington is a small "Urban Neighborhood" bank, they count on people not fighting it since most of the people who bank there carry lower incomes and do not know their rights.
However, I have seen these criminal acts used before by BoA and know that the SEC, the AG for several states, the BBB and many consumer groups have sued BoA for these tactics won damages against them.
Now, Mt Washington will feel the wrath of the angry consumer.
My advice to anyone even looking to use Mt Washington as their financial instituion of choice, is to stay the hell away!