Online Savings
from Washington Mutual
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WaMu Online Savings Down to 3.00% APY
There you have it. Washington Mutual's take under by Chase has claimed its first victim. The bank has knocked 100 basis points of the APY for online savings with linked checking. The account now pays 3.00% APY for all balances.
Get a WaMu Online Savings account for... 3.00% APY with a linked checking account.
The yield, though not quite pedestrian, is no longer among market leaders. However, it's a nice topper for a standard account at Washington Mutual (Chase).
About Online Savings
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Sometimes you have to pay to play.
We’re calculating what the card could cost you while you have it. We’ve taken your personal information, the card details, and average spending data to get to this value. If the costs are greater than the rewards, you should look for a card with the lowest cost.
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In less than ten minutes you can open a WaMu Online Savings Account for only $1! Manage your free monthly statements and do your personal banking for free online wherever, whenever. Link your Online Savings to a WaMu Free Checking Account and don’t worry about any monthly service charges. You can also sign up for Overdraft Transfer Service to transfer available funds between your accounts.
Online Savings Reviews
Due to the unfortunate decrease of interest earning power of my savings account at WaMu that I opened a couple of months ago, my hope of seeing real interest has virtually vanished. Well hope this economy bounces back sooner than later. It is kind of hard to watch my account just sit there. i mean the classic just put your money in the bank every time you have extra money, it gets hard. i lik…e to see a higher or fully restored interest rate.
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I appreciate the anymosity everyone has about banks holding funds, due to their "policies". I found Venture Bank Direct and had my onilne savings account up and earning interest in 1 day.
When I opened this account about a year ago the rate was a leading 5.00% now it seems to fall a half a percent every few months. Now its down to 2.50%. If the falling trend keeps up by jan 09 the rate will be under 2.00%! At that point I will move my money elsewhere.
It was easy to sign up for this account but Im not sure it is worth it. The interest isnt that great and I worry about the future for WaMu in general.
DO NOT put yourself through what happened to me. Sure you can open the account on-line. Your initial deposit will not be credited for at least 7 days after they get your money, because that is their policy. So there you sit with money in their bank that you do not receive interest on due to their "internal policy" of not releasing funds.
WAMU has to "buy" deposits with higher rates as com…pensation for the aggrevation you are put through. You haven't lived until you chat with their fraud department over a $500 on-line deposit. Best part, they put up to a 30 day hold on additional deposits to new accounts. There's another 30 days without interest. Getting the picture? STAY AWAY!
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