What will it be like for Washington Mutual customers as they get assimilated into the Chase fold
One of our commenters, mavrick67, who says they have over 20 years banking experience and have witnessed 8 takeovers throughout the years, provided a timeline as to what you can expect.

As a banker with 20 years experience in the industry and veteran of about 8 takeovers throughout the years I can give you the scenario with estimated timeframes.

DAY 1 THROUGH 3 MONTHS
Nothing changes, you keep writing your same checks. You get the same statement in the same format. You log in to the same website address for internet banking. Maybe you see some new faces in your office from the “Takeover” bank (in this case JP Morgan Chase)

3-6 MONTHS
Few changes, mostly minor. You order checks and it has the new banks name on it, maybe new procedures for sending wire transfers or making loan payments. Half of the staff at your local branch has quit or been “re-assigned” elsewhere. They start changing the signage outside the office and get new brochures, but your accounts stay the same.

6-12 MONTHS>
You get notice that the format of your checks will change in a few months but you still can use your old checks for now and you might get assigned a new account number or given a new format that adds or subtracts digits. Some freebies you used to get with your account have disappeared (ie. you now get charged for a safe deposit box rather than get it for free). They’ve changed the hours the office is open. The only person you recognize when you go to the office is old Ethel, the head teller who’s been there since 1977.

1 YEAR ONWARD
You get notice in the mail that your old account type is being discontinued and you now have the some new “special” type of account. You’re not supposed to use your old checks anymore, if you make a mistake and write one anyway they’ll probably pay it. Ethel retired and you don’t know a soul in your old branch and it looks like any other Chase office.

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