WaMu Bank Review

I was asked to check out and do a sponsored review of the WaMu bank website. I thought this would be a valuable review for my readers because saving is very important and it is always good to have a choice when it comes to savings.

WaMu offers a variety of Savings Accounts to meet the needs of every member of society. The first account I looked at was their Online Savings Account. This account can be started for as low as $1. If you tie the account to an online checking account, you will receive the best rate of interest. This account offers many online services and even access to many ATMs.

The Savings Accounts that were offered was the statement savings account. This is just a traditional savings account similar to those offered at a local bank. If you tie this to your WaMu checking account and do an automatic savings transfer, you will avoid all monthly fees.

WaMu does not stop at the basic savings accounts; they offer a vast array of other saving options. They offer three different options when it comes to CDs. The first, the online CD, is the highest interest and all transactions are done online. The next in line is the traditional CD which is a little more flexible but offers a lower interest rate. The final options is the liquid CD and that one offers the flexibility of making both withdrawals and deposits during the time of the CD without penalties as long as you do not go below the minimum balance requirements. These all offer competitive rates equal or greater to your local banks. They offer the ability to do your banking 24 hours a day with no hassle waiting in lines.

Other savings options include retirement accounts and retirement CDs. WaMu is a full service bank that offers all the other features of any major bank. From savings to checking to loans, they offer an alternative to the limitations of many local banks.

Comparing their services to other online banks, I discovered that their savings rates were a little lower than some other online banks. However, WaMu makes up the difference by offering a lot more services than many other online banks. If you open a checking account with WaMu, they offer many savings options without monthly fees. If you have a checking account, they will also issue you an ATM card that can be used anywhere and allows access to both your savings and checking accounts. Wamu is a full service bank that also has real branch offices but gives the flexibility of having your own personal bank right in your home or office.

Savings is directly connected to convenience and WaMu is a great source to make it convenient to save. When starting a savings account, I highly recommend making WaMu your bank of choice.