Woodforest National Bank review: massive overdrafts 98

I have had a checking account with Woodforest Bank since 2005. I have had no problems at my local branch. The tellers are polite and helpful. I had a silver checking account, no fees, later I got a Discover card with a 500.00 limit. I paid my discover card by automatic withdrawals from my checking account, much more than the minimum payment due. I was notified that the Discover card would no longer be available to me Affective August 15th, no more purchases. My last payment to be made was on August 11th. On August 6th, Woodforest called to ask if I had used my debit card to make purchases totaling 795.00. I told them I had not, that I had my card on me, and my card had not been used on that date. When I checked my online account, there were numerous charges for airline tickets purchased in Afghanistan, by this time totaling over $1, 000. My account was -795.00. and growing with NSF's for each check. During this time, I did not have access to my funds, I did have money in my account at that time, but it was subtracted from the amount charged. I was told to go into my branch and sign some papers indicating that I had not made those charges, which I did. I asked about my automatic payments, and I was told everything would be taken care of when they could confirm that I had not made these purchases. I then had to wait. On August 13th my account was restored, and all of the NSF' fees were deducted and I am good to go, I thought. By the way I never found out what happened with my account, I was told it was a bank, or vendor error. It could not have been a vendor error, because they did not have my card, nor check to charge my account. It had to be a bank error.

In September the balance on my Discover Card was transferred to a Woodforest reserve payment account, which means that it can only be used to pay if you overdraw your checking account. There was a 500.00 reserve, however 252.00 was deducted from the 500.00 because that was the balance transferred over from Discover. After August 15th, I cancelled my automatic payment to Discover, and scheduled automatic payments to Woodforest reserve account, I made a minimum payment on September 8th and another payment on September 23 which I directed to be paid on the principal. On September 25th I got a bill from Discover in the amount of 65.00. 15.00 of that being a late payment for their not receiving the August payment. This amount had been deducted from the account, but they stated that on August 30th the payment was reversed by Woodforest for Lack of funds, therefore the balance that was transfered to Woodforest Reserve was not the correct amount. It seems that the payment was applied to my account although they had not in fact received the money.

Let me state that on August 13th there was more than enough money in my account to cover that automatic withdrawal, and on August 30th when the automatic withdrawal was reversed, there was enough money in my account to cover that withdrawal. I had no knowledge of that the payment had not been made until I received the Discover bill last week. In the meantime, the two payments that I made to Woodforest on my Reserve account, was never posted, and my balance has gone from $252. to 256. I have made a third payment on Sept 29.

Today, I received my statement from Woodforest showing the two payments of 25.00 each coming out of my checking account, showing a credit of 50.00 and 53.00 to my reserve account but my balance is still more than it was in the beginning. I talked to customer service on the 27th, I was told that I would get a call back when they figured it out, before that I was told I had to go to my branch. I did not receive a call back, so I went to my branch today. They told me that they did not know very much about this at the branch level. They called, and was told that the money had gone to pay the Discover bill. I told her that was not true, because Discover had sent me a bill with a late payment fee. She then called Discover, although she had told me that they now had nothing to do with Discover, and Discover said that I owed them $66. and change, late payment plus interest, and they had not received a payment from Woodforest. She explained what happened and Discover agreed to accept just 50.00 and she then asked them who should she talk to at Woodforest. They told her, and she attempted to call, but the line was busy. She told me that only one person was handling that, and he was swamped, She would call me when she was able to reach him.

Where are the regulators. Why are they not held accountable. If I am late I must pay. If they mess up, I must pay. Where are he consumer advocates?

I agree with some of the above statements about checks a 10 day hold is normal. However, if this bank cared for its customers they could verify the money by phone pretty easily. It would appear that they just didn't want to or couldn't for some reason. But if my customer had 11000 dollar account I would pretty much bend over backwards to try and get them there money. I sure as hell wouldn't put a hold on there account (unless it was just the check that was 11, 000). But then again banks don't seem to make that much money on investments anymore as much as the do on overdraft protection.

I work paycheck to paycheck many times on a night shift. Everything that I know about banks has come from either personal experience or secondhand experience. THE MAJORITY OF POLICIES ARE IMPOSSIBLE TO FOLLOW UNTIL YOU RUN INTO THE CIRCUMSTANCE APPLICABLE TO THAT POLICY. Banking has become a gamble these days, as of recently an expensive gamble that many can afford, but some cant. What happens when you lose your job and an overdraft fee becomes a quarter of your weekly pay? Is it good for the economy? does the bank wisely spend your fees? Maybe, but I happen to believe that someone is making a lot of money from people that do not have very much. I am currently closing my accounts with woodforest, because I cannot afford to pay there nsf fees of 34.00. Is it my fault that my account doesn't have money in it, of course it is. Its my fault that my paycheck came through on the SAME DAY but the next business day. But this is where Woodforest National Bank gets a little confusing. Keep in mind that this is not written anywhere and none of there tellers could answer me, I had to call there customer service line to get a proper answer from someone across a very large body of water. In fact the tellers and managers could only give me a deer in the headlights look shrug there shoulders or cringe as they say its only a couple of overdrafts fees... which to me is saying don't worry the government gives your family assistance right? No, sorry I make to much to qualify HAHAHAHAHA... but thats another issue.

After calling to find out why my account shows that at 2-3am in the morning it is fine and is updated with completely different dates on my debits on the same day at a different time. I received this answer. Woodforest National Bank does not operate normal business days which i believe ends around 2pm this bank ends at 8pm. I am used to getting up and having time to go by the bank the bank with another paycheck or some cash to bring my balance current. But with Woodforest, there business day ends at 8pm, and while everything is being pushed through to your account you cannot see it happening. again at 2am everything seems fine and I can get up in the morning and put some extra money into my account to bring it to a good standing balance... wrong, sometime between 8am and the time my bank opens is when everything goes through and so when I ask for my balance after making a deposit is when I get that same shoulder shrug and painful its only one overdraft fee... its only a third of the paycheck you just cashed on the same day.

I wouldn't be upset if it didn't take so long to finally figure out how they work. There tellers should know, there customers should know. But somehow the only one who could tell me how the bank is taking my money is oversees on a crappy telephone. Yeah the bank itself is not bad, its just like every other bank. However, I feel their tellers let me down, I feel i have paid them a lot of money to handle an account that doesn't keep a lot of money, and I feel that not just this bank but others as well serve predatory practices that take advantage of confused and low income bankers.

I disagree with the above statement because usually a bank has some sort of policy disclosed somewhere where you weren't or aren't looking.

I agree with it because someone could have pointed me to that policy a couple of months ago.

Banks in general are hard to trust, if you find one I'm happy for you. If you don't, maybe we should write to a senator or something?

But why should I pay 34.00 dollars to someone I owe 5 dollars to? is it because its a fee? because I see it as a loan... they paid something for me and I am going to pay them back... at almost 600% interest owed immediately

btw there changing service fee has to do with the amount of money you spend and the amount you have in your account, try calling the lady oversees she can explain it to you in a pleasant accent

I bank with woodforest.On now 3rd went to walmart to buy money orders and couldnt so I called the bank and the atm debit cards were not working.My bank still took 916.20 cents out and Now Im over 1000 overdrawn and It was there fault.Im still waitng for my money .The people that work for them are very rude.I have 5 kids and bills to pay.Eletric will be cut off today and the stupid azzzzz dont care.Dont bank with WOODFOREST.

inPeople are so quick to judge! We are in a recession, people! People everywhere are having hard times! It is now time for the holidays, have some compassion! You never know someone's story. Be grateful that you are in good standing at your bank, others aren't as lucky. My husband and I are Woodforest customers as well. My husband travels for buisness and used his debit card to pay for a hotel. They overcharged us causing us to be overdrawn. While in the negative this hotel continues to hit our account for bogus charges! The bank is paying it saying that the way it comes thru, by law they have to pay it! We are $900.

Cont. We are $900 overdrawn now. They won't close acct. untill it is paid! The debit cards have had to be replaced three times, the strips are not able to be read! It took me 3 weeks to receive my replacement card. A lot of places will not accept their checks. When your account gets in the negative, they hit you with so many fees that you cannot get your head above the water! I have cancelled my debit card and I am disputing the hotel charges!As soon as I can clear out the negative balance...I will be closing both of our accounts! They also dont process debits for 5 to 7 days that way they can hit you with NSF charges. They are kicking people when they are down! I hope you get it straightened out! Good luck and God bless!

The bank has to pay by law. however, if your husband or you should (loose your card), than the bank will,
(issue you a new card, with a new number). at this point,
(the hotel can not charge your new card and new number)..
Because by law, (the bank will be unable to allow them to charge your account)

Good luck toni f.

Toni F. Here's a little Financial Advice, A Couple (MARRIED OR NOT) should ALWAYS KEEP SEPERATE ACCOUNTS. This happens often to a lot of young couples. At this point, the most you can do is TRY to see if the bank will release you guys from some of the fees. Or, see if you can come to some sort of agreement to settle on a reduced fee amount. if you can't it's all on you, and you have to pay the fees.

Sorry, there's no magic bullet here. Always keep track of your spending, and remember (((((PENDING TRANSACTION ARE NOT CLEARD TRANSACTIONS))))) and are subject to fees.

Good Luck.

I appreciate the advice. You learn from mistakes! I will have separate accts. next time. I am working with them now. I will say that the branch manager has been very nice and helpful. The hotel that continued to charge our debit card for 2 weeks after his stay there is the responsible party in this big mess!)

It's YOUR job to know what is in your account. Stop blaming the bank for your mistakes.

I love woodforest never had a problem, if you are good with your money then the bank will be good as well. some of you people don't understand that.

Some of you idiots that defend Woodforest is either a niave customer or an employee. You don't really have to do hardly anything to get some kind of high [censor] fees dealing with them. I said it myself, it is almost like they are run by the mafia the way they go way out of the traditional ways of other bank procedures. Pathedic! They muscle you and man handle your money and they do their best to catch you slipping . They are not doing anything to change their ways at all.

I have had an account with WFB for 10 years and have never had a problem! I have never been an employee of the bank or any other bank. I have accounts at other banks and have not had problems with them either. They do not just take money out of your account because they do not like you, if you barrow money you pay intrest, when you are over drawn you are barrowing money from them without asking. How about they do not cover your overdrawn checks and let you go to prison for hot checks.
As far as the person that said the branch was cashing blank cashiers checks without an ID, I HAVE TO CALL BS on that. They require an ID to make a deposit. quit spending money you do not have and they will quit charging you fees

I have just tried to open a account with Woodforest, I have never been so humiliated in my life, I do not have a drivers license as I have several illnesses that could cause me to blackout, but I have a green card that I paid $4, 500 to get as well as having to have my eyes scanned, all my finger prints taken, blood samples, A doctor had to examen my, I was tested for T/B, Aids and several other things this all took me 2 1/2 years but I can not open a bank account at Wood forest with my green card, Well thats OK as I just take it to RBC I had no problems opening a account there, and I will never tell any one to go there.The best thing was the lady who was serving me was from Asia and had a green card so she must not bank at the bank she work's for, I work and pay my taxes like every one else but got refused by this bank, it is Raciest ...

I'm an employee and can tell you that woodforest knownly opens acounts with invalid names, SS#, and addresses. They also order personal and buisness checks for accounts that are negative for 30 days or more. Their call center is run by Hitler (VP Belinda Muras). If an employee even thinks about given a suggestion that might benefit the customer and not the bank they are told "You should be happy you have a job". The assitant VP Jena Jack is no help either as all she does is agree with the VP no matter how dum her ideas might be. My daughter works in their call center and tells me some stories about belinda and jenna that sound like a looney toons cartoon . Keep in mind these are the two in charge of both woodforest call centers.

I am a customer of the bank. I have been a customer for about 3 years. I will tell you why some people complain. 1.) They do not keep a ledger and keep it up to date. 2.) If you experience a problem or make a mistake, contact them ASAP! The sooner the better. The longer you wait, the harder it is for you to be helped. 3.) This bank has always gone out of it's way to help me when I've been in a bind and its the ONLY bank I've ever been a member of that actually will give me an of fee refund once in awhile. 4.) Take responsibility for YOUR actions. 5.) PLEASE keep in mind people will go out of there way to complain before they would praise. My friends, family, and I love this bank. It is the biggest community bank and they treat me like a person, not a number. Its kinda like Cheers, everyone know my name! :+)

Also they have the best hours, convienience, and offer products and services that other banks and credit unions can not compete with. Can u day open 364 days a year? My pay check also posts a day before the other banks post it.

Woodforest has charged and credited me so many times its ridiculous. Upper management down to the tellers dont know whats going on. I was identity thefted 7/29/11 and my checks went direct deposit after the fact. I withdrew my money and opened a new account at another bank. I asked them to not send me another card. They did anyway and charged me for that. They also charge u like the previous customer said for every month until ur account is 64 days with no activity. I asked them to close my account and they wont til tomorrow. Thank the Lord. With a balance of -85.55 which should be +.35 . Worse banking experience ever. Oh and for poor working men and women. U dont have to even report ur identity theft. The police havent called me and I have pictures of the person who identity thefted me and copies of the ads she posted. Still no call from the fraud or forgery department. BEWARE...WOODFOREST IS GETTING RICH OFF OF CHARGING PEOPLE FEES FOR NO SERVICE AND DESTROYING HONEST WORKING MAN/WOMAN'S CREDIT :(

I had a dispute through Woodforest that lasted TWO months. The transaction was what caused my account to go into the negative. I kept calling and calling, and they kept telling me that it was being investigated. (I was NOT about to fund an account for someone to withdraw from freely so I didn't make any deposits.) Eventually the account closed for not being used for sixty days. Day 63, I was notified that my dispute had been resolved and approved, BUT my account was closed for nonuse and a negative balance...NOW, WF is in the process of sending me a cashiers check. I am still waiting on it, but they haven't been too bad about getting me my money yet.

I don't have anything bad to say about this bank. A whole lot cheaper than 200% interest on Payday Loans. This bank has Definitely been a blessing during hard times. Yes granted the fees are unsightly sometimes, but it gives you time to replenish and Fix your account within 35 days.