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Washington Mutual can totally KMA (rant!)
Posted by: Greg the dogsitter
Date: May 02, 2006 10:11AM
IRA Mutual Fund. Parents put in $2000 several years ago; chose this fund on the advice of the salesbeing.

Now, $1236. Morningstar rates it low in its category, with high risk. Oopsie.

Today, I called to close it out; send me a check. I'm done.

$75 closure fee.

$15 maintenance fee. They normally charge this at the end of the year; since I won't have the account at the end of the year, they charge it now.

<bleep> them. I hope they rot.

GtDS
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Re: Washington Mutual can totally KMA (rant!)
Posted by: Paul F.
Date: May 02, 2006 10:13AM
Ugh..


Crap like that is why I sold my few shares of Washington Mutual stock a couple years ago..
I don't want part ownership of any company that treats their customers like that...





Paul F.
-----
A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: Washington Mutual can totally KMA (rant!)
Posted by: bangman
Date: May 02, 2006 11:11AM
Welcome to capitalism.



---------
3GHz - The clock is STILL ticking Steve.
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Re: Washington Mutual can totally KMA (rant!)
Posted by: Seacrest
Date: May 02, 2006 11:12AM
I had a similar experience with Schwab.
First of all, when I opened the account, they said no fees.
Then, they change it to fees if you don't have at least $XX amount in the account.
Then, when I go to transfer the account somewhere else? $95 please.
On top of all that, the fund was nothing but a loser.







I am not Ryan Seacrest, and I do not approve this message.
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Re: Washington Mutual can totally KMA (rant!)
Posted by: NewtonMP2100
Date: May 02, 2006 11:35AM
yup. . .blech!

that is why I stopped using Ameritrade.


My parents got ripped off quite often because they didn't know English well and didn't know better. ..

they got sold whole life insurance not once but TWICE the *&$*#^^ sales agent got luber commission for selling them both 2 whole life policies.


they also got a load IRA that didn't perform that well. ..took some time to figures stuff out and get them on the right side of things. . .


so remember 'no load'. . .never pay for load funds or funds that charge yearly IRA maintenance fees.


AND read the literature they send you. they often send "term changes" in mailing that look likes regular junk mail from them. ..


and yes WaMu sucks. . .they had major problems with mortgages. . .awhile back. . .





_____________________________________

I reject your reality and substitute my own!
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Re: Washington Mutual can totally KMA (rant!)
Posted by: Fritz
Date: May 02, 2006 12:53PM
they were once my mortgage bank. f-wads then.



!#$@@$#!

What if the hokey pokey really is what it’s all about?

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Re: Washington Mutual can totally KMA (rant!)
Posted by: Michael
Date: May 02, 2006 03:11PM
Seacrest Wrote:
-------------------------------------------------------
> I had a similar experience with Schwab.
> First of all, when I opened the account, they said
> no fees.
> Then, they change it to fees if you don't have at
> least $XX amount in the account.
> Then, when I go to transfer the account somewhere
> else? $95 please.
> On top of all that, the fund was nothing but a
> loser.


Yep, I transferred to Fidelity when Schwab announced the fee for less than $xx 4 or 5 years ago. W had enough to be no-fee, but I didn't like what the change represented. I had Fidelity do the transfer and it didn't cost anything. Maybe Fidelity absorbed it???

I always screen for 5*, no-cost funds with Morningstar. I understand that the past is not a guarantee of the future, but it's worked out most of the time.
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Re: Washington Mutual can totally KMA (rant!)
Posted by: thermarest
Date: May 02, 2006 09:39PM
vanguard.

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