WaMu (Washington Mutual)
WaMu has been in business since September 25, 1889. Their headquarters are located in Seattle, Washington. They currently have over 2500 branches through out the United States. Washington Mutual is the third largest bank in the US.
They offer two types of checking accounts.
1) WaMu Free Checking Account
– Minimum to open an account is $1.00, no minimum required monthly balance.
– NO monthly fee
– Free online banking and Bill Pay
– Free debit card (with rewards program)
– Free overdraft protection
– Free Fraud and Identity Theft Protection
– Free Checks
– Free ATM withdrawals (from any of there banks)
This is a perfect checking account! Who doesn’t love FREE banking?
2) Platinum Checking Account
*Offers all the free benefits you get with the Free Checking Account*
– Minimum to open $1,000.00
– Monthly fee is $20.00 (if you do not maintain a balance of $1,000.)
– This account can be combined with any other account, a savings account or IRA to
maintain your minimum balance and avoid the monthly fee.
* Additional benefits with the Platinum Checking Account*
– Credit card
– Account earns interst
– Discounts on loans
– Free money transfers
In addition to the two checking accounts, they offer a saving account, where you have funds (minimum $25. a month) transfered to your savings account, this is done on a specific day each month. Unlike some other banks, who offer this combined account you are not pressured in to participating in the savings part.
If you wish to open an individual account, you can do so at their website online. If you need a joint account, you have to go to the bank and do it in person.
I like WaMu bank, because they keep it simple. A lot of banks have four or more checking accounts to choose from. Opening a checking account should not require a college degree in finance.