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August 31, 2006

WaMu

After talking to several friends with accounts at Washington Mutual and getting all hot and bothered by their current 5.0% APY on no-minimum-balance savings accounts (for online signups at WaMu.com only), I finally bit the bullet and opened accounts with a small amount of money. The promised advantages over Wells Fargo are simple: * Free checks for life. Which is fine with me, as I never write checks, and it galled me to be forced by Wells to buy them anyway at $40 a box for their "corporate woodcut" design. * 5.0% APY on savings, with no minimum balance. * 3¢ back on every debit card purchase, up to $250 annually. * Free online bill pay. Wells charges $7/month for the same service, so I've never even tried it. But perhaps the nicest part is that—so far—it's been far more speedy than any Wells Fargo visit ever has. I was in and out of WaMu with my opening deposits in less than 5 minutes. I'm normally in line at Wells for at least 5 minutes during off hours, and far longer at the time of day I was just there. Heck, it took me an hour of waiting when I wanted to open a checking account, and the banker (a) wasn't seeing anyone and (b) was a total bitch. I swear it's like pulling teeth to get Wells to take your money. I had been intending to open a small business account with WaMu in the near future simply because Wells Fargo seems to think "small business" equates to "raperaperape," but now I'm giving WaMu their shot for personal banking first. Here's hoping for smooth sailing.

Posted by Colin at August 31, 2006 12:13 PM

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