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I've had issues with Guaranty Bank's check hold policies for several years now. I frequently find that different branches seem to follow different rules, and I've learned that the branch inside WalMart is much mire customer friendly than the other branch in West Bend, on Main Street.
Several years ago, my husband and I withdrew a cashier's check from a credit union we have an account with. We brought it to the Main Street branch to deposit it. We were told that there would be a hold on the deposit, even though it was a cashier's check. What? As a former credit union manager, the idea that there would be a hold on a cashier's check was completely foreign to me. We went to the WalMart branch and explained the situation, and the teller explained that we could simply cash the check. Why this was not an option provided to us at the other branch, I'll never know.
I have frequently, over the 10+ years I've banked with them, experienced inconsistent check hold policies. Sometimes I deposit a check and they put a hold on it, and sometimes they don't (and I'm talking about payroll type checks.) Often, one branch (Main Street) will place a hold on the deposit and WalMart will not. Very recently I deposited one of these checks (payroll) and the Main Street branch put a hold on it. Because I took some cash back from the check, a hold was placed on my account that exceeded the balance. A debit transaction came through when the hold was in place, and while it cleared, it generated a $37 overdraft fee. I went to the WalMart branch to find out why the hold was placed this time, when it wasn't when I deposited a check from the same company two weeks ago. The branch manager told me that as such a long time customer, I should be subject to these check holds at all, and that not all branches follow the same policies. I've learned my lesson and will exclusively use the WalMart branch from now on.
This is truly a Mafia style operation where fair banking practices and customer complaints are not welcome. How many of us are out there, I wonder. I never had a problem with the bank until I called to inform them of two illegitimate charges. They instigated a two day investigation and pronounced the charges from Free Credit Score and Instant Checkmate -- two of the biggest scam artists online,to be valid.
I called and talked to a very rude woman, I wish I'd written down her name, who was very adamant that I was lying and the charges would stand. She even referred to these bottom feeders as "merchants". Collusion-oh, obviously why else would they accept the validity of the charges without considering what a 3 year customer says unless they got a kickback. Every other bank with which I've dealt, without questioning, gave me a provisional credit and made the charge back permanent within a month. (eg. TCF,the manager of local West St. Paul branch was incredulous over the story I'm about to tell you. I see now how they were setting me up for the largest cashectomy that's I've ever experienced. Absolutely diabolical. To my astonishment, they would not issue me a new debit card. Of course, once a customer becomes a mark, as I can see now that I was so considered, everything falls into place. I should mention they sent a couple goons who wanted to meet and "work"with me.
A lawyer advised against it. The security officers who played dumb iare Jack Talbot and Todd Richarson, Pres and VP of Security' Frightened, I withdrew $1400 from the bank, leaving enough to test their claim that when I was overdrawn, the card would simply be refused. Gotcha! The card finally was refused but only after I had gone over my existing funds. I counted the original scam, illegal charges as part of the money left into the account. When I went into collect my SSDI check, they presented me with a statement which read -$61.00. I immediately expressed my bewilderment and headed straight for the police.