Washington Mutual Complaint - Inconvenient Balance Transfer Request
IRVINE, CALIFORNIA -- I requested a balance transfer from Washington Mutual over a month ago, reading all the fine print, and proceed to enter the required information. The two items that I search for when requesting a balance transfer are (1) 0% offers and (2) those that charge 3% or up to $75.00 of the amount requested. I am not new to the "balance transfer" game and am pretty savvy about the process. Since I had not heard anything regarding this transfer, either via email or the US mail, I decided to find the funds to pay off my Chase credit card balance, which resulted in a -0- balance. After viewing my Chase account on March 7, I was shocked to see that a "balance transfer" has gone through in the amount of $4,400, which gave me a credit balance for that amount. Needless to say I was shocked and called Chase regarding this issue.
At the time, I did not know who had generated the balance transfer since I had requested two of them through different agencies. Chase could not give me that information since it was a "check" and the originator was not shown. I decided to call WAMU to see if in fact they had made the BT and found out that they had. I was quite upset since I was not previously notified of this transaction by WAMU and especially when I found out that the service fee was 3% of the total amount or $132. This mess resulted in having to call Chase and WAMU numerous times, in an effort to rectify this situation. My efforts were for naught. WAMU was of no help and I found their customer service department to be extremely unhelpful and rude to boot.
In the end, I had to request a check from Chase to pay off the balance transfer, minus the service charge of course. Since this is a 0%, I have decided to pay $11 per month for the next year to pay off the dreaded service fee. My biggest gripe with this bank is that I was not notified prior to them performing the balance transfer. Typically, the company will send out a credit card, at which time the requester can then perform the balance transfer on their own schedule.
Just a warning to the wise, do not do what I did and get stuck paying a transfer fee that was unnecessary.