I’ve ranted enough about really bad companies but I’m raving about something good today.  Ever since WAMU began offering their 5% High Yield Online Savings account, I’ve been giving them a much closer look and they’ve won me over.  What really put me over was the fact that they’ve opened up three new branches within a mile of my home.
Additionally they offer Free Checking with the following benefits:

  • Free Wire Transfers (domestic)
  • One Free Bounced Check (never thought I’d use this but did by accident)
  • Free Checks for Life
  • High Yield Online Savings 5%

WAMU has a credit card with access to your FICO score for FREE.   All of these things add up to superior value and their customer service has been decent so far.  WAMU’s combination of brick & mortar access,  online access AND high yield savings are key things I’ve been looking for in a bank.
My only concern now is that they’ll likely become a take over target by some bigger crappier banks and ruin a really good thing.

The one negative on WAMU is their brick & mortar pushy reps constantly trying to sell products and services.  I used the drive-thru to deposit a check and I was literally asked if I knew about “WAMU’s great money market accounts” over the intercom at the drive-thru as I waited for my receipt!  I wondered if the clerk expected me to open an account over the intercom.

On another occasion I opened a CD at a branch and was repeatedly asked if I wanted a home loan or HELOC or other exotic loan instruments at their “new great rates.”

Oh well, the perfect bank just doesn’t exist but WAMU comes closer than anyone else has in a long time and it’s rare that I have to interact with reps so it hasn’t bugged me too much.