MyCardBlog

Recently, WaMu keeps sending me mails and emails about its free checking account service. Ok. Let me briefly introduce the free checking provided by WaMu.

WaMu is officially known as Washington Mutual. It is actually the largest savings and loan association in US. Wamu provides financial service across the US. After the acquisition of Providian Financial Corporation in 2005, it’s also the 9^th largest credit card company in US.

The most intriguing feature of the WaMu checking account is “free checks for life.” In this way, you can order checks from WaMu online for free at any time. This will save us a lot of money. WaMu offers one Overdraft/NSF fee waived for each 12 months. It also offers free outgoing international wire transfer. Another feature is they offer free Gold Debit MasterCard with Reward. Reward paid to the account on anniversary date and equals $0.03 for each Gold Debit MasterCard purchase transaction made with the last year up to a total reward of $250. (Is this similar to BOA keep the change?) If you open a free checking together with a saving account, you will earn 4.75% APY from saving account (Statement Savings account)! Minimum amount to open a checking account and saving account is $1 each.

I would say the banking service from Wamu is really great. They don’t impose common fees. No minimum balance required and no direct deposit needed. You can transfer your deposit from saving account to checking account instantly. Another nice feature is that online funds transfer. You can link up external accounts. Of course, they need to verify the account via two trial deposits.

The free of fees, convenience and high yield interest make WaMu checking/saving combination a top choice.