bank rates

WaMu 3.75% FREE Online Checking Account

Washington Mutual has a very nice 3.75% APY online savings account that comes with a free checking account! Interestingly, my savings account with the brick and mortar WaMu only pays 0.50% interest.


Online savings & checking account features:

  • Free ATM cash withdrawals
  • $1 opening balance
  • Cash back for debit purchases
  • Free checks for life
  • Free Overdraft/NSF Fee waiver each year
  • Free outbound wire transfers and more
  • High-yield 4.00% interest savings account

Wamu Online Banking has several great features that come with the services. There is an extremely easy process to sign up for an account. They have several different types of security features in order to better protect your personal data.

With WaMu, you have 24 hour a day 7 days a week access to your account information. So, no longer will you have to wait for your monthly statement to come in before you can balance your checkbook. Easily gain access to all of your important account history at the click of a mouse. Just one of the many wonderful features that are offered to WaMu customers at no charge.

Another feature that many people enjoy having through Wamu is the bill pay online. For added incentive, they offer this feature at no cost to the account holder. Along with this feature, an account holder can schedule days for certain bills to be automatically paid. From one bill one time to all bills every month.

When you are running low on paper checks, as easy as 1 2 3, you can log on and purchase your checks. An ideal feature for those that can not make it to the bank during business hours. A few of the other features that seem to be enjoyed by many Wamu account holders is the online stop payment on a check, get a copy of a paper check that has been written as well as update your address.

With free features and high quality customer service, it is no wonder why so many people are taking their accounts to online banking at WaMu. Regardless of their banking needs, Wamu seems to cater to all individual banking requirements.

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Comments (94)
1 Star2 Stars3 Stars4 Stars5 Stars (129 votes, average: 4.36 out of 5)
94 Existing Comments
  1. jacmac said:
    on January 9th at 06:22 pm

    WAMU is offering a $75 gift check for opening up their free checking account. Some of the features you get w/ this account are:

    Free checks for life.
    No minimum balance.
    Free Debit MasterCart w/ Rewards (ea. yr. you get 3 cents for every purchase made with card up to $250
    One overdraft or bounced check fee waived every year.

    The letter I got said you can sign up at, (they won’t offer it at any other URL) but that URL won’t open up for me in Mozilla Firefox, so you can also do it by phone: 1-800-685-1644

    The Promo Code is 0380-ACGP-8481

    You need to fund the account with $30 and just keep the account current (no over draft) for eight weeks, and they’ll mail the check to you.

    It took me about 5 mins to sign up!

  2. Hans said:
    on January 18th at 03:09 am

    Posted WaMu Promo Code has been used and won’t be accepted. Any leads on good promo codes?

  3. Calimero said:
    on January 20th at 05:58 am

    What about a 4% checking account with no minimum deposit and all services free. I mean, for the rest of us who do not have 40k to block in checking… give up a little of % and still have a life 🙂


  4. said:
    on January 30th at 04:47 am

    Rate dropped to 4.25% APY today.

  5. Donis said:
    on February 1st at 11:07 pm

    Customer service is horrific

  6. WAMU.COM said:
    on February 2nd at 06:39 am

    WAMU . COM

  7. Hugh said:
    on February 3rd at 01:29 am

    Customer service is just horrible. I tried signing up and got the “Your application was cancelled due to security issues” message.

    Okay, can’t sign up for an account, no big deal… EXCEPT THEY STILL CHARGED ME $200 FOR THE INITIAL TRANSFER!

    So I don’t have an account with them due to security issues, but they still take my money for some reason…

  8. Mr. Ron said:
    on February 3rd at 11:16 am

    1-800-788-7000…. they are very helpful … if you need face to face call one of their branches and ask to speak with a manager… they’re focus for this year is customer service so they’ll be more than willing to work with ya’ to resolve this issue.

  9. Mr. Ron said:
    on February 3rd at 11:18 am

    oh… and Hugh, I meant to add that the face to face, you can go into their branches and they’ll work on this with you…

  10. Mo Money Mo Problems said:
    on February 9th at 04:57 pm

    Its still a good deal! No problems whatsoever!! i’m getting 300 a month on my money stashed here….! helps cover the bills!!!!

  11. Continuum said:
    on March 8th at 08:47 pm

    DO NOT BUY a CD from this bank. They take your money quick enough but are slow to pay it back. I’ve had 5 CD’s with WaMu. When I requested funds, they remove the money from account the same day. But, they do not mail the funds until about 5 days later. Usually forcing a weekend in between so that they hold the money for another 2 days. The last time I requested funds, the clerk filled the paper work incorrectly and the funds were never sent. No one notified me. After a week I called the bank to find out where my funds were and discovered that the clerk had filed the wrong paperwork. Although assured the funds would be sent the same day, it is now 5 days later and I am still waiting. Oh, yes, the funds were removed from my account the same day I requested but they were not mailed to me. I am still waiting. I repeat, DO NOT BUY a CD from WaMu.

  12. NON Interest Purgatory said:
    on March 12th at 06:23 pm

    Look out. WaMu plays a trick on you when you make your first deposit. My contacts with WaMu so far have been very disappointing. I opened the account via the internet. I mailed a deposit of several thousand dollars for the savings account. I mailed this to the address and listed the account number that WaMu says MUST be used for the first deposit.

    I got an email stating that the money had been received and placed in the checking account that is NOT interest bearing. I have now called them up twice, spoken to three different person including “Lucy”, a manager and they will not transfer the money over to the interest bearing account.

    I continue to endeavor to transfer the funds over to the interest bearing account but it will not transfer. On the second call, the WaMu person informed me that I will not be able to transfer those funds over to the interest bearing account until I send in another deposit and vest the interest paying account.

  13. rob barber said:
    on March 13th at 12:11 am

    You folks who say this only takes seven minutes are out of your mind. Did you read the 4 agreements you are making? of course not, it would take 3 or 4 hours. there’s 750 kbytes of agreements there that detail tons of fees you might have to pay. It’s probably okay not to read them, depending on your situation, but i wouldn’t sign my money away like that. I gave up. I’ll put my money at zionsbank, where i already have a money market account and it didn’t take me all night to read their agreements.

  14. April said:
    on March 15th at 01:19 pm

    This is a Great program. I love it!

  15. Laura said:
    on March 22nd at 09:51 pm

    I had a horrible experience with this bank trying to give them a LARGE amount of money. When I reached the end of the online application process and “failed” a security question, my application was rejected. Upon calling the bank and being passed from person to person the final answer was “try again online aftre 7 days have passed to see if you get lucky with a different security question”. Never again.

  16. Mellanis said:
    on March 27th at 07:10 pm

    Avoid WaMu like its the Asian Bird Flu! I opened my account when it was 4.0%, the next day it dropped to 3.55%. That’s still a good rate, however, their customer service leaves a lot to be desired! My account states that it is active, but I’m not able to transfer any money to it. I’ve called and sent emails, only to be told it will be fixed ‘tomorrow’. Well, tomorrow always comes, and my account still isn’t ‘fully activated’. They have some issues at WaMu, and aren’t in any hurry o fix them. Also, if you send them emails, you only get form letters in reply. I am about to close my account and move on. Any suggestions on a better bank??

  17. Sue Temple said:
    on March 31st at 12:44 am

    I will never use WAMU and I would let anyone know how horrible their customer service is in the Val;rico Florida area. My husband and I have fought with them over getting our money out to another lower interest bank. They stated the money would be transferred and they lied. When all was said and done we ended up owing them money for some unbelievable transfer fee. Never were we told anything about this fee. The bank manager does not know any more than the teller. Customer service 1-800 that–is- a– joke. I have never and will never again deal with WAMU. It is there to take money easily but help you when it may be convenient for them!!!! When transferring the money to another bank, that Manager told me she had never dealt with a more unresponsive group of individuals. BEWARE!!!

  18. Hong Nguyen said:
    on April 2nd at 01:40 am

    stupid Wamu when I tried 2 open a Cd account but like they sent me a whole bunch of papers 4 me 2 fill out until i finish then return it then my CD will start but I havent return those paper yet & my Cd account already started & so I need to get some cash so I went & widrawal money I was get charge for it because the account wasn’t mature & i called the bank they said that shouldn’t happen so they try contacting the guy who set that account up but they couldn’t contact the guy & still i’m getting charge anyway it was about $50 for each time taking out the money i got charge for like 2-3 times

  19. Franny B said:
    on April 2nd at 03:53 am

    WAMU has the worst type of customer service I have ever received!!! and I mean ever. They charge fees (which they now advertise they dont) that you have no clue where they come from. On my saving account they charged me that “excesss activity fee” when I specifically asked about it before openning my savings and was told there wouldnt be any if I set up an automatic transfer monthly. And so I did… well now they charged me about $30 dollars of fees because of that. Everytime I have had issued with WAMu they have been nothing but a dissapointment to me. When I call their 1800-788-7000 number they are nothing but rude ( and I have called quite a number of times due to their mistakes). Even talking to managers I get nothing but the worst cold customer service treatment I have ever received. I work with customers I am a claims adjuster so I know how customers can be pretty unreasonable sometimes but when someone asks you a plain specific question and gets a lie as reponse and then the bank stands on it even though they know missinformed me then there is nothing else left to know about them. I do not want a bank that lies to get me to open accounts and then takes my money. Dont know why anybody would want one. BE AWARE!!! Even if they look so nice when youjust get in there. They are nothing but trouble and I’ve been their customer for 5 years now. Looking for a new bank but is so hard to trust any.

  20. Harry said:
    on April 15th at 05:11 pm

    I have been trying to close my accont and get my money out for the last 4 months. they say they will close the account but they just closed my savings and haven’t closed the checking and i haven’t received a cheque back yet. there customer service was ok at certain branches, but some of the others were arrogant and had no knowledge. I would never open another account with wamu, provided i am successful in getting out of this mess first. good luck and BEWARE

  21. Alden said:
    on April 20th at 12:11 am

    My online savings account apps. has been denied twice over the past 8 days. Not sure what the problem is, my financials and credit are very strong. When I reached out to the phone representatives they couldn’t tell me what the problem was either but encouraged me to go to the bank and fill out the application…..of course the physical bank is only offering .50% APR instead of the 3.30% APR advertised for the online application. I wonder if this is a case bait and switch?

  22. Tyler said:
    on April 25th at 06:22 pm

    I’m really confused because I signed up for WaMu’s online savings and free checking account when they were offering 4.5% and about a month after opening my account my APY was only 3.30%…is this some kind of scam they are pulling?? Customer service is no help either.

  23. Sue Temple said:
    on April 29th at 12:17 am

    Obviously–Thai–Geomark–DucTrinh–JooliaGoolia and Han are fans of this infamously known screw-up bank. Do you think they may work there?? For all eyes, just look at the names. Give me a break. I lost over $450.00 to that bank becasue we transferred an equity loan to another really good serviceable bank. Because they delayed the check it cost me that much more due to the additional time. Give me a break. The manager at this Valrico
    Bank in Florida definitely has hidden agenda’s and they are not customer service oriented. Do you think after all this on the web any one would call me to make things right?? NO NO NO. They just eat up any persons hard earned money. Pleas do not listen to thes wierd named people. They either work there or are just made up people. Actually anthing on the web site for WAMU that is favorable I would doubt.

  24. John said:
    on May 4th at 06:06 am

    Alden, I have been having the exact same problem. I have a Wamu checking account but every time I try to open the online savings account, my application is denied due to “security reasons.” I spent HOURS on the phone with customer service to try to fix the problem but no one is able to tell me what the problem is. No one is able to help me. I have tried to open the online savings account for MONTHS and I regularly call customer service to see if they can help. Horrible, horrible service and no one is in a position of authority enough to really get down to the bottom of my problem.

  25. ANTIWAMU said:
    on May 9th at 02:40 am

    My wife Miel and I have had numerous problems with Washington Mutual. Namely, these have been related to problems integrating our on-line mortgage and checking accounts. We have also had problems with their on-line and telephone customer service.

    After hassling with those guys for over 2 year, I would say AVOID WASHINGTON MUTUAL AT ALL COSTS.

    You’ll definitely run into problems with that company and its just not worth the hassle.

  26. Brian said:
    on May 22nd at 03:16 am

    There are several high interest online savings accounts options out there. The primary “advantage” that set WAMU’s apart for me was the free outgoing wire transfers. However, it was less than obvious (buried in the fine print as far as I could tell) that the only way to initiate an outgoing transfer was to do it in person at a local branch. Since I am in a part of the country untouched by a WAMU brick and mortar facade, this is not an option for me. This is very disappointing that a selling point used to market this product nationwide is inherently useless to much of the country (unless you do not care about such things). This is deceptive advertising in my book.

  27. shraz said:
    on May 22nd at 08:06 am

    I just found out that when a CD matures, on the account summary you will see a big bold text saying: “This CD has reached its Maturity Date!” under the matured. They give you a bunch of information and even let you close and transfer to your checking/savings. AWESOME! WAMU is becoming a nice online site.

  28. Travis said:
    on June 1st at 02:26 am

    John, Alden, I had the same problems, it took me like 10 tries to get approved past the security questions. I think the reason mine failed was because I listed my cell phone and home phone as the same number, since Im away at college. So when the question of “what is the number u gave us?” I was guaranteed to be wrong if I answered cell or home line. Be sure to list your home number even if u don’t use it, and answer the question as home number because they wont let u give your cell number as your contact number. Very stupid.
    Also I think if your online savings balance goes under 300 for one day out of the month you get a $4 fee.

  29. Frustrated said:
    on June 7th at 06:27 pm

    WAMU phone automation is horrible!!! Good luck getting someone on the phone. 0 and # do not work. Once a human answers they are very nice and helpful. I had to contact the loan phone number, which was staffed, (they know where the money is made) and have them switch me to a line for CDs.

  30. V said:
    on August 3rd at 12:58 am

    I can not find that ING checking rate???They are only in the 3’s

  31. Dan Tanner said:
    on August 6th at 04:54 am

    Well well you never know unless you ask. So I went into the branch and pushed the envelope. I asked them whats the maximum rate they have and to my surprise the lady pointed me to a big sign near the teller window. They have 4% in- branch money market rates.

    They DO NOT advertise these rates on the web site. It differs from branch to branch and the financial centers have the best deal. Go inside and ask.

  32. Janna said:
    on August 6th at 08:34 am

    Dan, I have WaMu branches in Texas, may I ask what state you are in with that rate? thanks

  33. B said:
    on August 12th at 04:22 pm

    I don’t get it. Can someone clarify this for me?

    WaMu Free Checking(tm):

    “Free ATM cash withdrawals worldwide: Withdraw cash from your WaMu Free Checking account at any ATM and we won’t charge you a fee. Sadly, other ATM operators may still charge you a nonrefundable fee and foreign currency exchange and transaction fees may apply”
    (located on website at as of 20080812 10:55AM US Central Time)

    But then by clicking on the .pdf called “Our Fees and Frees” on that same page it reads under section titled “ATM & Debit Card”

    “Non-WaMu ATMS, Domestic & International Transactions— $2 /each”
    (located on website at as of 20080812 10:55AM US Central Time)

    I called WaMu at 866.236.7766 to ask this question on 20080812 10:55AM US Central Time and talked to 3 reps:

    1st Rep: stated that fees had recently been added to non-WaMu ATM withdrawals for said account

    2nd Rep: concurred that fees had recently been added to non-WaMu ATM withdrawals for said account

    Account Manager: stated that the website verbage (no fee) was correct and that aforementioned .pdf was for “all WaMu accounts”– ie, not specifically for WaMu Free Checking(tm).

    When asked where the fine print could be found to support his (and WaMu’s current website’s) claim of no fees, he said that the only way was to go to a brick/mortar or start opening an account to see the exact terms.

    Note that on the claim “Free ATM cash withdrawals worldwide…” found on the WaMu Free Checking(tm) webpage (see above), there is not a footnote or reference to other fine print that could qualify the claim that states “ANY atm”.

    I would prefer not to go to a branch to clarify this, so if anyone has any insight…

    Note, however, if for WaMu Free Checking(tm) accounts WaMu does charge fees ($2 each) for ATM withdrawals from non WaMu ATMs, isn’t this fraud and couldn’t users petition for refunds of those fees until the website verbage is changed?

    Whatever the case, considering WaMu’s stock dive from a year ago and the fact that WaMu representives disagree on this simple (highly advertised) selling point, I’m thinking I’ll go elsewhere.

    Thanks to the folks for hosting this site– it’s a useful one.
    Happy Banking,

  34. BASHARAT said:
    on August 24th at 04:32 pm

    WAMU is offering 5% APY 12 month CD

  35. gd said:
    on August 28th at 08:55 pm

    the service with WaMu is absolutely sub-par. i regret opening an account with them. the time to complete transfer is well over a week. it’s now been a month that the account has been funded. in a message from an online representative, i was told that a debit card was mailed to be on august 15th. i had not received so i followed up. today they told me that they can’t send anything out to me….even though they have my money. this is ridiculous!

  36. M said:
    on August 29th at 05:20 pm

    About the ATM fees: They don’t charge the fee for WITHDRAWING money from the Free Checking account at a non-WaMu ATM. I have done it a couple of times and have never been charged for it.
    However, if you do something different from withdrawing money, like checking your balance, they’ll charge the fee. I learned this the hard way.
    None of the documents they gave me when I opened the account state this “feature” which I thought was odd, but it turned out to be true.

  37. kay said:
    on August 30th at 07:09 pm

    3.75% interest rate per month?

    $ 5000.00 plus profit for 187.50 per month? Right????? I need to know.

  38. Tyler said:
    on September 5th at 11:20 pm

    No that’s $187.50 in one year.

  39. Jen said:
    on September 6th at 11:08 pm

    I love WaMu. I opened a free checking account back in 2004. Last month, I open the online saving account and loving it. I love the fact that I can link the Online saving to my debit card for quick access from the ATM.

    The web site is fast and easy.

  40. Johny said:
    on September 17th at 06:12 pm

    Let me tell you guys, the latest news are: CHASE IS BUYING WAMU…. REMOVE ALL YOUR CD’S AND SECURE IT SOMEWHERE ELSE. FDIC Insured cds usually take 1 year to get the money if the bank files bankruptcy or anything like that. Dont invest in WAMU…Thanks.

  41. Sharon said:
    on July 24th at 02:13 pm

    I, also was surprised one day when I was charged the $10 excess activity fee a few months ago. I suggested to customer service that a pop up might be beneficial before the actual transfer is confirmed. NOW TODAY, I checked my balance and found that they make the usual $25 transfer from my checking to my savings, but charged me a $33 overdraft fee! They refuse to reverse these greedy fees… if they can get money out of you, they will. BE AWARE!