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Sunday, December 04, 2005

Bitter Banking, at Washington Mutual

"The Buck Fifty stops here." Lies.

So much for Washington Mutual's advertising campaign about free ATM transactions. It seems that the "Buck Fifty" didn't stop, it kept going. But now it's joined by Mr. Quarter.

The last time I used a WaMu ATM, I was charged a $1.75 transaction fee. What the hell is that about?! I thought WaMu was supposed to be the free ATM. That was its whole raison d'etre! Now what is it? Just another stoopid bank with lame hours.

The worst thing of all is the fact that I didn't even hear anything in the press about Washington Mutual charging ATM fees. You would think that someone somewhere would have printed it for everyone to get angry about it.

A quick Google search resulted in this article from Reuters via MSNBC: Washington Mutual Ends Free ATM Use for All

Ok, well that's not good enough. For all the positive PR that WaMu got when it decided to offer free ATM transactions, I think it should have an equal if not greater amount of negative PR for its decision to charge a fee. The company has basically lost its competitive advantage in the minds of consumers by now behaving in the same way as all other banks. And who wants to do business with a organization that reneges on its promises.

Switch to Commerce Bank. It's better -- and has better hours.


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