False advertisement - Wescom came to my company to obtain business in 2009. They offered a guaranteed line of credit of $250.00 for one year with sign up and direct deposit. The idea was to "build credit". I signed up because I needed to build my credit. For the first year, I used the $250.00 and paid it every month. After the year, of course, they suspended the line of credit stating my FICO score wasn't high enough. I stayed with them for another year and ended up closing my account in April 2011. I am trying to buy a house so received a credit report and guess who's reporting a negative for suspension of a line of credit? Yep, Wescom; it shows $0 balance but they're reporting it so it's bringing my score way down. The last time they updated was Feb 2012. Needless to say, I have made many phone calls asking them to remove this from my credit report. They insist that it is reported correctly and refuse to take any action.
Consumer Complaints & Reviews
We had an insurance policy with these guys, Wescom, which they introduced us to and then the insurance company takes funds out and leaves us with a balance of $34.00. They cover it and then send us to a collection agency. We have had home loans, 3 car loans, and small lines of credit, which were all paid in full but we let $34.00 go unnoticed and unpaid, and they call in the credit agency dogs after almost 40 years of an account with them.
They closed our account, but did not tell us. I am glad we can find another bank to rip us off. It's true, they're all the same.
I got a car loan with this bank thinking they would offer great customer service and wouldn't try to rape me with all kinds of other charges like the bigger banks would, boy I was wrong. Everything was good for 2 years of my loan, until my insurance expired and I was without insurance for a week or so, somehow they knew my insurance expired, and added almost $3,000 to my loan. According to them, they added their own insurance on the vehicle for a year, they asked me so fax in my new policy etc., So I did..so they credit my account $2700, but my monthly payment went up $71.58, so now I was paying a little over $520 for my car payment which sucked.
A year later, I decided to move to a different insurance company, and they added $1600 for insurance again for an entire year...even though I was never a day without insurance. I had to call, waste my time faxing documents etc, so they could credit my account again which they did but my loan balance is all screwed up.
I have paid almost 5k towards the car, and I still owe the same amount from the beginning of the year. Seriously **! I talked to several reps, and it turned out that most payments I had made went towards the insurance they added on, so in reality I never got credited those amounts. I'm getting screwed.
Watch out for institutions who claim to be great at Customer Care. Wescom credit union is the worst, they have a policy where they do not review checks. They except anything and, when the money is deducted from your account without your knowledge or consent, they charge you for being overdrawn. I was charged 112.00 dollars because they took a check that i did not authorize before the posted date on the check. Then they told me this was part of their policy, and they had the right to charge me a penalty?
What kind of bank cashes checks without anyone reviewing the check? I had 3- representative told me that they don't review incoming checks they just cash them and oh well, its outta their hands they are not responsible. They took a check posted dated for the 15th and cashed it on the 9th, no one called, or kept the check pending at least until they could confirm it was ok to deposit before the dated date on check. They they had the nerve to send me a copy of the check on the 10th of May showing it was dated for May 15th. What kinda bank creates a policy to victimize its own customers and rip them off!
