Consumerism Commentary - Latest Comments in Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

slahey — Wed, 24 Sep 2008 08:20:08 -0000

Given the fear-mongering by that loudmouth Jim Kramer on MSNBC/Hardball last nite (that WaMu may bankrupt in 5 days, the FDIC can't handle it, we won't be able to get money out of our ATM's, the money supply will lock up), Wamu will probably have to raise rates again next week to head off a bank run of the gullible. I'll be crying all the way to the bank.

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

Juan — Wed, 24 Sep 2008 00:26:46 -0000

They also currently have a 5.00% APY 12 month CD with a with a $1000.00 minimum (don't know if this promotional rate is new).

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

slahey — Tue, 23 Sep 2008 09:13:04 -0000

If you have an account at the bank who buys Wamu, make sure you don't have more than $100K total at BOTH banks. FDIC may let the $100K limit be in effect for each bank after a buyout for a short while, but don't bank on it.

Relieved of mortgage debt, Wamu would do fine as just a bank, so I don't get why the rush to sell. Be that as it may, to spread the risk, I think Wamu will be divided among the PNW, Calif, Chicagoland, and NY-tri-state area. I'll accept Chase, HSBC, TD, or Wells, but if it is Citi, I will pull everything out. They have terrible customer service and treat their employees like garbage. I will not patronize that.

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

klerg — Tue, 23 Sep 2008 08:38:06 -0000

I just checked my WaMu savings account and it's up...OH HAPPY DAY!!!!!!!!!!!!!!!!!!!!!!

aa, Flexo's correct. Your money's safe.

Now, mortgages held by WaMu may be in a bit of trouble but your money in both savings and checking accounts are A-OK.

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

EN — Tue, 23 Sep 2008 01:04:25 -0000

Hmm I have a checking at Citi and, as of now, WaMu. I wonder how that'll work out if Citi buys WaMu....hopefully be more convenient for me I guess. :)

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

Harlan Landes — Mon, 22 Sep 2008 20:39:44 -0000

It's more likely WaMu will be bought by another company, perhaps Citi. Either way, the money is safe.

Re: Washington Mutual Increases Savings Account Interest Rate to 4.0% APY

aa — Mon, 22 Sep 2008 20:38:14 -0000

Bankruptcy is near with the rate hike.

It'll need another bailout bill 'cause FDIC can't cover a bank bank like WM.