The Convenience of WaMu Savings Account | Ramblings of an e-trader

Tuesday, 22 July 2008

The Convenience of WaMu Savings Account

A couple of days ago, my sister mentioned that she plans to open a new savings account. She has one with a smaller bank and since moving house, has found it a hassle to drive over for banking. It makes sense to open another savings account where she would be able to perform banking transactions conveniently.

My sister asked me if I know of a hassle-free Savings Account. Well, I don’t know about her but when I opened by savings accounts, I have four, by the way, I specifically looked savings account that come with free internet banking, free e-statements, $0 monthly charge and ATM facilities.

Frankly, these are not too much to ask, right?

A Savings Account with WaMu comes with all the above provided we maintain a minimum daily balance of US$300. Failure to do so will cause our account to be deducted US$4 per month. Also, to encourage new depositors to open a savings account online, WaMu’s Free Checking Account has no monthly service charge as well. You could also link it to a current active WaMu checking account for $0 monthly maintenance.

WaMu also offers the convenience of signing up for Overdraft Transfer Service which allows you to transfer funds from your online savings account to your WaMu checking account which you have linked earlier. This means that you could issue check easily without worrying about lack of funds in your checking account, and avoid carrying cash.

Actually, all these features should be offered for any savings account. Don’t you think so?


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