4.00% Savings & Free Checking @ Washington Mutual
By Best Bank Rates | May 16, 2007 | Bank Deals
Washington Mutual is well known for their Free Checking. But just recently, they’ve rolled out a special online offer for a 4.00% APY high yield savings account if you also apply for their WaMu checking account. Click on the link, and you should be taken to this screen:
This is a great deal, especially if you already have an account with WaMu. Because their checking accounts have no fees or minimums, there’s nothing wrong with adding a new account. However, this deal is only available online. Here are some of WaMu’s online checking features:
- Open for as little as $1.00 online, by phone or at any Financial Center
- No monthly service charge
- Free ATM cash withdrawals worldwide
- Free checks for life!2
- Free ID Theft Services
- Free Gold Debit MasterCard® with Rewards
- One free waiver of an Overdraft/Non-Sufficient Funds fee per year
- Free outgoing wire transfers (foreign and domestic)
- Free account access at more than 3,750 Washington Mutual ATMs nationwide
- 24/7 Telephone Banking
- Free Account Alerts keep you up to date on the status of your account (when signed up through our Personal Online Banking)
- Option of free check return or free check safekeeping
You can also sign up for these free services:
- Free Personal Online Banking with Personal Bill Pay®
- Free Combined Statement
- Free e-alerts
As you’ve probably noticed, Washington Mutual is big on giving you FREE features. : ) Opening an account is even easier if you already have an online account with WaMu. Just click the radio button next to “Do you have an Online ID?” and enter your account information. It only takes about 5 minutes to get your new savings account up and running. Transfers are instant, and of course, FREE. Make sure you are getting the 4.00% rate by viewing your account details.
For more information visit their sign up page.
For more banking deals and rates, subscribe to my RSS feed or ThePiggyBanker monthly newsletter:Related Posts:
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November 8th, 2007 at 9:33 pm
Read the comments and think that the person(s) had to leave their money in their account for six months before they can withdraw without any penalty or so called bank computer issues. I had an account with HSBC and withdrew and eventually closed after a year and had no problem. I closed HSBC because (1) felt that they are a gimmick bank like Bank of America and (2) live in WA State and transferred all my money to WaMu 5% online savings with free checking and am very happy doing business with them.
November 19th, 2007 at 7:50 pm
I was interested in opening a Washington Mutual Online Savings Account with a 4.75 APY after viewing the WaMu website around 11/05/07. To take advantage of their savings account I was first required to open a WaMu checking account at a local branch. After opening my checking account I was told that the Online Savings Account could only be opened online by me.
Later I attempted to open a WaMu Online Savings Account and after several tries I was given this response “Your application has been canceled.” The response finished with “if you wish to apply at a WaMu branch, you can bring in two supporting documents from the list below to start a new application.”
On 11/19/07, I entered the branch where I opened my original checking account with the proper documentation. I met with a WaMu Representative who said she could not help me with opening an account. I then referenced the information giving to me on their website. She took the information to her Supervisor, who said they are permitted from assisting customers with opening an Online Savings Account. The Representative then recommended a “Statement Savings Account” at 0.25 APY or if I wanted the Online Savings Account I would need to contact customer services.
I contacted customer service that evening and was transferred three times. Each time I had to repeat my current situation. Finally I spoke with a representative who assisted me online to verify the information I submitted was correct. As a result we received a response on the final page of the application which stated. “We are unable to complete your application at this time. You may, however, return seven days from now to try again.”
Based on my experience I feel WaMu is drawing many customers to their bank through online advertising of their Online Savings Account. In return customers who become a customer and want to open a WaMu Online Savings Account cannot do so. As a result they are swayed by WaMu Representatives to open a “Statement Savings Account”.
November 28th, 2007 at 2:31 pm
I have had the exact same experience as Mike. It’s incredibly frustrating, and I agree that it seems very much like a ruse to encourage people to open accounts with WaMu without actually giving the high interest rate to many people.
November 28th, 2007 at 5:10 pm
It is important to remember that in order to get this high yield savings rate you need to open the account online. Many brick and mortar WAMU banks will not honor this rate.
December 3rd, 2007 at 5:54 pm
Great account, just signed up a few days ago and I’m already earning the high intrest!
December 11th, 2007 at 5:23 pm
Thanks for this bank deal! I had an offline wamu account but it was only earning a very low interest rate; this one is m uch higher!
January 2nd, 2008 at 5:53 pm
Can somebody tell me is this possible in WAMU (checking and online savings) accounts
Open both the accounts online.
After account opening, how long will it take to deposit a mon wamu check into wamu checking and/or savings account? (no of hold days)
Can the check be deposited directly into savings account in the bank or it has be done manually into checking at the bank ado online transfer later into savings?
Is the transfer from checking to savings instantaneous?
Can the ATM card be used to withdraw from savings account?
If yes how many transactions allowed per month and whats the max per day?
Iam thinking of WAMU cos they have good physical presence in california.
February 6th, 2008 at 2:55 pm
great rate and great account, easy to signup and use! thanks!
February 19th, 2008 at 12:43 pm
thanks for this deal; signed up a few days ago and had no problems.
February 26th, 2008 at 7:07 pm
[…] to maintain liquidity by investing in short term CDs or even high yield savings accounts such as Washington Mutual’s Free Checking/Savings Account, or E*Trade Financials Complete […]
March 4th, 2008 at 5:07 pm
I signed up for this account 2 months ago and have not had a problem yet. Great service, competitive rates.
March 5th, 2008 at 6:26 pm
[…] Bank of America regular savings account yields a pitiful .20% APY compared to Washington Mutual’s 4.00% APY or E*Trade Financial’s 4.10% […]
March 5th, 2008 at 6:27 pm
[…] Bank of America regular savings account yields a pitiful .20% APY compared to Washington Mutual’s 4.00% APY or E*Trade Financial’s 4.10% […]
March 5th, 2008 at 6:45 pm
[…] Bank of America regular savings account yields a pitiful .20% APY compared to Washington Mutual’s 4.00% APY or E*Trade Financial’s 4.10% APY. Posted by bankingblogs Filed in Uncategorized Tags: […]
March 19th, 2008 at 1:22 pm
thanks for the great info!! Have you heard of anything higher then this rate?
March 31st, 2008 at 12:40 am
Wamu Rates continue to drop
April 7th, 2008 at 7:51 am
I’ll have to check this out! Great deal! Thanks!
April 21st, 2008 at 4:05 pm
This is a wonderful site! I am used to scanning various websites for credit and finance resources. I’ll definitely be back.
May 7th, 2008 at 4:58 pm
My wife Miel and I have had numerous problems with Washington Mutual. Namely, these have been related to problems integrating our on-line mortgage and checking accounts. We have also had problems with their on-line and telephone customer service.
After hassling with those guys for over 2 year, I would say AVOID WASHINGTON MUTUAL AT ALL COSTS.
You’ll definitely run into problems with that company and its just not worth the hassle.
June 6th, 2008 at 12:17 am
I’ve never had any problems with my WaMu accounts. Customer service was always prompt and helpful.
June 9th, 2008 at 8:27 am
Coulee Bank ( http://www.couleebank.net ) offers an incredible 6.01% APY with their Rewards Checking account. The rate is easy to earn. All you have to do is make 10 check card transactions a month, use e-statements, and do 1 automatic payment a month (they call it ACH). Coulee Bank pays 6.01% on the first $25,000 and 1.01% on anything above that. The best thing about this account besides the rate is it is FREE, you can apply online, and it is from a great bank with real people that answer the phone. And as they like to say, Banking Green has its Rewards. The Rewards Checking account saves paper and preserves our natural resources. No wonder I feel good about recommending this to everyone I know. Check it out. I guarantee you will love it.
June 22nd, 2008 at 9:49 am
Even though it’s now June of ‘08, WaMu is still the best - just my opinion.
September 23rd, 2008 at 4:43 pm
WaMu just increased the rate on this account to 4.00% APY. This is a great savings rate for an online account!