6.00% 9-Month CD at a Washington State Bank

Anonymous - #1, Monday, August 7, 2006 - 6:18 PM

I spoke with a bank representative today about the 9-month CD. The APY is still 6.00% (APR of 5.84%)and this offering is not restricted to Washington State residents; it can be opened by mail. Monthly payment of interest is an option.

Banking Guy (anonymous) - #2, Monday, August 7, 2006 - 6:44 PM

Thanks for checking on this. I never did get a response to my email.

Anonymous - #3, Tuesday, August 8, 2006 - 5:54 PM

I did get the form by email and it is open to non-WA residents as well (max deposit is restricted to 99.5k for out of state residents). CSR did tell me that they allow you to later make additional deposits (in 1k increments) and it would earn the same APR. Also, we can make one penalty free withdrawal (I was in a hurry and couldnt reconfirm the last part but if true, this is a very good feature).

Reader from New Jersey (anonymous) - #4, Saturday, August 12, 2006 - 10:43 AM

As of August 11, the 9-month rate is still 5.84% with APY of 6.00%. The bank rep. informed me that monthly payment of interest, if desired, will be made by monthly check or ACH transfer to another financial institution as the depositor wishes. This bank appears to be very accommodating and I believe this is the best 9-month deal out there aside from perhaps World Savings.

Banking Guy (anonymous) - #5, Saturday, August 12, 2006 - 12:48 PM

Thanks everyone for the help. I did receive the email reply and attached was the form to open the account for out of state residents.

It does look like an excellent deal. Hope it will last for awhile.

Anonymous - #6, Tuesday, September 12, 2006 - 4:50 PM

I inquired today via email and they responded that they are no longer accepting out of state deposits for this CD. Bummer.

Banking Guy (anonymous) - #7, Tuesday, September 12, 2006 - 7:11 PM

Thanks for the update. At least it had a good run.

Anonymous - #8, Saturday, September 16, 2006 - 1:05 PM

I spoke with a bank representative on 9/15/06, who said that they are not offering the CD at all anymore, ie, it's not even available to WA state residents.

Anonymous - #9, Friday, September 22, 2006 - 9:43 AM

A great bank and a great deal - am very pleased. Thank you for posting. This is a five star bank. Finally opening my account today after a long delay - first applied back on the sixth of this month. Believe they may be offering their special rate now only to local customers.

Virginia (anonymous) - #10, Tuesday, September 26, 2006 - 1:26 PM

WBB employees are very nice and helpful. I opened a CD with them last week and authorized them to withdraw the money via an ACH pull from my checking account. They had some sort of computer error and pulled the money FOUR times, three times on Friday and once on Monday. This seriously overdrafted my checking account. After repeated phone calls back and forth between me and Chase (my home bank) and WBB and between WBB and Chase, the problem was ultimately cleared up. WBB even did a wire transfer to get the money back into my account the same day AND they paid Chase's incoming wire fee. In short, the error did cause a bunch of hassle for me, but they took full responsibility and I appreciated the way they handled the problem. I would definitely recommend them to others, although I'd suggest doing things the old-fashioned way and mailing a check! ;)