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Online Banking

GraydeathGraydeath Registered User regular
edited February 2008 in Help / Advice Forum
I am currently using Bank of America for my saving/checking and also I have a Visa credit card through BofA. I have been thinking of switching over to online banking for a while now and have decided that WaMu looks like the best choice. The problem I'm having is that the information on their site just isn't quite answering all of my questions and probably isn't as biased as I would like. So I have a few quick questions about WaMu that I would like to ask preferably from people who have dealt with them in the past.

1. I don't use cash that much but once in a while it's nice to go to an ATM and get some to carry around with me. What atm's can I use and do I get charged service charges for using non WaMu ATM's? This may be on the official website somewhere but I couldn't find it.

2. The interest rates they have on their online bank account is pretty high which is the main reason I would like to switch over. However, the disclaimer says that they can change the interest rate any time after the account is opened. Does the interest change often or ever or even after a period of time like an introductory offer type thing?

3. What type of fees are there associated with this. I know they will charge 4 dollars a month if I don't keep the balance over 300 but that won't really be an issue. Are there any other hidden fees that they can nail me with?

If there is anything I'm missing or if you have any other advice on switching banks and online banking feel free to let me know. Thanks!

Graydeath on

Posts

  • ThanatosThanatos Registered User regular
    edited February 2008
    Graydeath wrote: »
    I am currently using Bank of America for my saving/checking and also I have a Visa credit card through BofA. I have been thinking of switching over to online banking for a while now and have decided that WaMu looks like the best choice. The problem I'm having is that the information on their site just isn't quite answering all of my questions and probably isn't as biased as I would like. So I have a few quick questions about WaMu that I would like to ask preferably from people who have dealt with them in the past.

    1. I don't use cash that much but once in a while it's nice to go to an ATM and get some to carry around with me. What atm's can I use and do I get charged service charges for using non WaMu ATM's? This may be on the official website somewhere but I couldn't find it.

    2. The interest rates they have on their online bank account is pretty high which is the main reason I would like to switch over. However, the disclaimer says that they can change the interest rate any time after the account is opened. Does the interest change often or ever or even after a period of time like an introductory offer type thing?

    3. What type of fees are there associated with this. I know they will charge 4 dollars a month if I don't keep the balance over 300 but that won't really be an issue. Are there any other hidden fees that they can nail me with?

    If there is anything I'm missing or if you have any other advice on switching banks and online banking feel free to let me know. Thanks!
    I have WaMu's checking + online savings. I don't think they charge you for non-WaMu ATMs, though the ATMs usually do. The interest rate varies with the prime rate, usually. I think when I got it it was at, like, 5.25%, and has gone down since then. They may have an intro rate, but as far as interest rates go, they're very competitive for an account as liquid as it is. I haven't run into any hidden fees with them yet.

    Thanatos on
  • reddogreddog The Mountain Brooklyn, NYRegistered User regular
    edited February 2008
    I only have a WaMu checking and WaMu doesn't charge you for using a non-WaMu ATM. The only charges you get for using a non-WaMu ATM is whatever that particular ATM charges.

    I personally have an ING Orange account thats connected to my WaMu which is really awesome. There's no charge for it, no minimum balance and you can transfer and withdraw to your checking at will. You might want to check that out if you want. I can refer you if you'd like and if you open up an account, you'll get an extra $25 bucks (as well as I would) pending on how much you put in :)

    reddog on
    reddog.png
  • ThanatosThanatos Registered User regular
    edited February 2008
    reddog wrote: »
    I only have a WaMu checking and WaMu doesn't charge you for using a non-WaMu ATM. The only charges you get for using a non-WaMu ATM is whatever that particular ATM charges.

    I personally have an ING Orange account thats connected to my WaMu which is really awesome. There's no charge for it, no minimum balance and you can transfer and withdraw to your checking at will. You might want to check that out if you want. I can refer you if you'd like and if you open up an account, you'll get an extra $25 bucks (as well as I would) pending on how much you put in :)
    WaMu's online savings beats out ING's interest rate slightly, and is also linked to your checking account, only you only need one login.

    I cancelled my ING account to get this one.

    Thanatos on
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