Up until recently, I would have given WaFd Bank four stars, because even though their online banking platform was mediocre and their account options were somewhat limited, their customer service was very good and their Gold Money Market account offered a competitive interest rate.
So what has changed for me? They just changed their online banking system to make it as difficult as possible for me to make extra principal payments on my mortgage. I can only do it on one day a month unless I want to have to go to the branch in person (who has time for that?) or fill out paperwork every month (again, who has time for that?). I am shocked and more than upset that they are making it so difficult to pay down my mortgage.
Now I'm going to have to shop around to refinance my mortgage because I don't want to remain a customer of a company that has made my life more difficult than it needs to be. If they do the right thing and fix this situation ASAP, I will stay with them, but otherwise I'll be going through the huge inconvenience of having to look for a new bank. read more