Not So Nice After All...

I switched from Chase to People's bank of Washington, based on the idea that they were a friendlier, local bank.  Things were fine until I went to deposit a check from Fidelity Investments (heard of them?).  I had taken money because I had a need and wanted to have the check post the same day After I received the overnighted check,  I found out that People's bank was skeptical of the validity and refused to call Fidelity to verify funds saying that it would do them no good to call.  They were going to put a 2 day hold on 1/2 the check and then a 7 business day hold on the remainder.  I asked what the logic was in that - meaning if they knew in 2 days that the check was "good" why would they hold the remainder.  The banker stammered but had no answer.  Clearly they are using my money for their profit.  Really a deal breaker for me.

I have a car loan and savings account at BECU so I drove there and they released funds immediately - wasn't even an issue.

I say stick with the non-profit credit unions and run from for profit banks....ugh.