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Washington Mutual's Major New Free Checking Account?


According to a Fatwallet member who posted on this FW thread, Washington Mutual will be launching a major new free checking account tomorrow. I haven't been able to find any other info on this, so I can't confirm it. If it's true, it'll be an impressive checking account. Here is what was posted:

- free check books for LIFE

- free wire transfer (send money anywhere)

- free overdaft, if you don't use it, then it will roll over to next year

- earn 3 cents everytime you use your ATM card, plus at the end of the year WAMU will deposit the money into your account. Maximum you can earn is $250/year.

If you already have an account with WAMU, just ask the teller to convert the account for you.

That ATM card feature seems similar to Bank of America's Keep the Change Program. Like the Keep the Change Program, you can earn $250/year, but the KTC program is only when you make debit card purchases.

There currently is no word about this program at WAMU's website. WAMU's current free checking account doesn't require direct deposit. I hope this new one won't require direct deposit or require some other hoops for people to jump through. Bank of America's "free" checking account requires direct deposit. Otherwise, they charge $5.95/month.
kat   |     |   Comment #1
I'm already on direct deposit at WM. Could something, finally, be that easy? :) (Assuming your information turns out to be correct...)