WaMu has been sending out a lot of mailers and emails with a $100 checking account bonus. Several readers have mentioned this promo. It's also mentioned in this FW thread. Unfortunately, the bonus seems to require a unique promo code. Details about this promo are described at this special WaMu page free.wamu.com. The small print describes how this is a targeted offer:
For accounts opened in person, you must present the original letter sent to you
For accounts opened by calling toll-free 1-800-685-1644, you must refer to the promotion code in the letter mailed to you
For accounts opened by visiting free.wamu.com, you must submit your promotion code from the letter mailed to you
I called to see if they would provide the code, but I had no luck. For those who receive the mailer or email, it seems like an easy $100. Here are few of the details about promotion:
Open the WaMu Free Checking account with a $100 minimum opening deposit of new money
Bonus will be deposited into your account within 12 weeks after account opening
Bonus is subject to IRS and other tax reporting
It appears Chase has no immediate plans to end WaMu's free checking account. Unlike Chase's free checking, WaMu's Free Checking doesn't require direct deposit to avoid monthly fees. Also, WaMu gives you free checks for life and allows free outgoing wire transfers worldwide. This account is required if you want WaMu's Online Savings Account to be free of monthly fees. However, the savings account APY is now only 2%, so there's no longer much incentive to open this. If you're considering closing the savings account, this blog post provides some warnings and tips. And here's a FW thread with another example of problems that can occur.
Thanks to the readers who have emailed and commented about this offer.
For WaMu's depositors, the closure of WaMu by the Feds didn't cause any problems (except that deposit rates have fallen a lot). Also, the seizure resulted in no cost to the Deposit Insurance Fund. However, WaMu shareholders were wiped out, and as this Seattle news article describes, there are 3 class-action lawsuits related to this issue. There have been accusations that the Feds' justification for the closure, the bank run, was more a walk than a run, and it shouldn't have resulted in the seizure. This essay on the WaMu seizure makes an interesting case on how the shareholders were unfairly treated by the Feds.
Washington Mutual is offering a special 4.00% APY 8-month Add-On CD. A WaMu checking account and new money are required. The minimum deposit is $1,000. The add-on feature allows you to make additional deposits up to the amount of the intial balance during the term (add-on deposit does not have to be new money). This doesn't seem to be listed at WaMu.com. It was advertised today in several papers. Here's an online ad from the Dallas Morning News.
I just called the number in the ad (1-866-808-1396), and I was told...
I just confirmed that today is the last day to open Washington Mutual's 5.10% APY 7-month Add-On CD. I just called their toll-free number at 1-866-808-1396. According to the CSR, it's available to people in any state if you open it by phone. This is different that what I've been told before, so please leave a comment if you're told something different. If you open the CD today, the CSR said that they'll require you to have the check in the mail within 2 business days. You can also do...
Washington Mutual is offering a special 5.10% APY 7-month Add-On CD in some states. A WaMu checking account and new money are required. The minimum deposit is $1,000. The add-on feature allows you to make additional deposits up to the amount of the intial balance during the term. This doesn't seem to be listed at WaMu.com. It has been advertised in several papers. Here's an online ad from the Dallas Morning News.
Update 1/25/08: Readers have reported being told that this 5.10% special will be available through Monday (1/28/08). Monday is...
Washington Mutual has a few decent short term CD specials. I also have an update for WaMu's 7% Savings for Success account. Unfortunately, their online savings yield has recently fallen from 5% to 4.75% APY. One nice change is that WaMu customers who already have a WaMu checking account can now link this checking account to the online savings account and still qualify for this high yield and the waiver for the monthly service charge. Previously, you had to open a new checking account at the same time that the...
Washington Mutual is offering a special 5.20% APY 7-month special CD in some states. A reader mentioned in my last WaMu post that he opened one in New York. A free checking account was required. This doesn't seem to be listed at their website. I called WaMu, and I was told that this 5.20% APY 7-month CD is available in New York, New Jersey, Connecticut, California, Illinois and Florida. A yield of 5.15% APY is available in Texas. There's also a 4-month CD in Texas. Only the 4-month 5.15% APY...
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