The WaMu Free Checking is probably the best checking account out there. One thing I love, when it says free it means free. No string attach. You don’t have to have direct deposit, you don’t have to maintain thousands of dollars and you don’t have to open any other account if you don’t need it. It also offers free checks for life, free on line banking and free on line bill pay, free out going wires domestic or international, one over draft fee refund per year and the good thing is if you don’t use it the next year you will have two, kind a like roll over minutes.
Another thing WaMu really cares about its customers and for first 4 over draft charge you as a customer pay $27.00 and if some one still over drawing the account then you get charge with $35.00. You can also set up your savings account and by selecting the option of automatic savings plan with as little as $5.00 a month you can avoid any monthly charge and do not have to maintain any balance in your savings account.
If you live in TX, you can also open a new savings account called “Savings for Success” and you can earn up to 6.5% APY. It is a Pilot program and WaMu is having a tremendous success since the rates are so low. This program is designed for a common man not with high balance customer.
This is a very good incentive for a common man to save some money and earn a very good interest. You have to have a checking account and you can save as little as $25.00 and as much as $500.00 a month. Its like a CD for a year and at then end of the year it pays 6.5% APY. A great bank with great values with great employees. The Slogan WaMu use is “Simple Banking more smiles” I think they really mean it.
The Platinum checking account it the interest bearing account. You have to maintain at least $10,000.00 to avoid monthly service charge. You can also avoid fees if you have an established relationship and may have mortgage, or Line of credit that combines the total of $10,000.00. Altogether WaMu have a very simple but very effective line of products that is designed to provide a very customer oriented solution to their financial needs.