Very few of the major banks these days are offering competitive online savings account rates. Very few of them allow you to couple an online savings account with a checking account (ING Direct, Emigrant Direct, and Virtual Bank are entirely virtual… you couldn’t go to a branch even if you wanted to), so when there’s a bank out there like Washington Mutual and they’re offering 4.25% - it’s certainly worth reviewing their offering. With WaMu, you get free checking plus a 4.25% APY savings account. You also get free bill pay and free checks for life with their checking account.
Here are a few of the other benefits of WaMu:
- Free ATM cash withdrawals - they won’t charge you to use ATMs at other banks (other banks may charge you though).
- Free check for life - as mentioned earlier.
- 3% cashback on debit card purchases - you get back 3 cents for every dollar you spend.
- No monthly checking fees - free is free is free… no monthly fees.
- One free overdraft or NSF per year.
Open a free checking and high-yield savings account, with a 4.25% APY by filling out the WaMu Free Checking™ application. Learn more!
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