Anyone have a Wamu savings account?

[LuckyTaxi]

I'm thinking of opening one since ing direct takes forever to transfer funds and the availability is even longer. I transfered some money into my ing account last week and it says I won't be able to touch it until next week. That's fine and all but in case of emergency I would need to tap my reserves quickly.

I'm not sure how the other savings bank are but there's gotta be someone who can transfer money in less than 2-3 days.

 

[deadlyapp]

how much? I can transfer from checking to savings instantly. I've never noticed a hold on up to 3000.

 

[LuckyTaxi]

I put in $1500 and I have another $10k i want to transfer. After watching them hold onto that for days, I'm reluctant to send another $10k over.
It's in my balance it just wont be available until the 17th!

 

[pstylesss]

I have a wamu linked free savings and checking. I transfered 4,000 from savings to checking, no hold and available instantly.

 

[cHeeZeFacTory]

I would think twice if I were you. My fiance was a former VP at Wamu, she recently quit and went to another bank. There are huge rumors within the bank that they're gonna get bought out. They're doing some shady things under the table to make boost their net worth.

 

[summit]

Originally posted by: cHeeZeFacTory
I would think twice if I were you. My fiance was a former VP at Wamu, she recently quit and went to another bank. There are huge rumors within the bank that they're gonna get bought out. They're doing some shady things under the table to make boost their net worth.

Your savings at WAMU is guaranteed up to 100k by the FDIC. Who's going to buy them out? I have it and its great. Just no more than 6 withdrawals from your online savings like with all other online savings accounts per month. Lastly, the interest rate is pretty good. I have accounts at all ing, wamu, and hsbc. Each because I believe in envelope settings. A good way to bypass the Ing Savings 7day hold is to get an EOrange account. Transfer money to EOrange account which will have it a 2 day hold and then its a direct transfer (no time hold) to your Online Savings.

 

[LuckyTaxi]

Originally posted by: Summit

Originally posted by: cHeeZeFacTory
I would think twice if I were you. My fiance was a former VP at Wamu, she recently quit and went to another bank. There are huge rumors within the bank that they're gonna get bought out. They're doing some shady things under the table to make boost their net worth.

Your savings at WAMU is guaranteed up to 100k by the FDIC. Who's going to buy them out? I have it and its great. Just no more than 6 withdrawals from your online savings like with all other online savings accounts per month. Lastly, the interest rate is pretty good. I have accounts at all ing, wamu, and hsbc. Each because I believe in envelope settings. A good way to bypass the Ing Savings 7day hold is to get an EOrange account. Transfer money to EOrange account which will have it a 2 day hold and then its a direct transfer (no time hold) to your Online Savings.

What about transferring from e-orange to my bank? The point of a savings account is so that you don't touch it at will, but you never know when an emergency comes up and you need the money for something. 1-2 day transfer I can tolerate but 7 days is pretty long.

 

[lokiju]

Personally I'd avoid Wamu at this time due to their poor performance lately.

I'm actually in the process of finding another bank so I can switch away from them.

I've read a number or horror stories on The Consumerist (consumerist.com lately about them and holding anything over $3k.

Here's on example http://consumerist.com/consume...whopping-72-312374.php

Just do a search over there for wamu.

 

[Slew Foot]

WAMU as a bank is in trouble, your money will be safe because of the FDIC, but WAMU may get bought out/crumble. Their stock has nosedived this year.

 

[tynopik]

transferring to an external account is a pain

you have to setup the transfer 3 business days in advance and then it takes another 2-3 days to go through

setup a transfer friday night, can't schedule till wednesday, then it's iffy if it will show up friday or next monday

and that assumes no holidays

 

[LuckyTaxi]

Originally posted by: tynopik
transferring to an external account is a pain

you have to setup the transfer 3 business days in advance and then it takes another 2-3 days to go through

setup a transfer friday night, can't schedule till wednesday, then it's iffy if it will show up friday or next monday

and that assumes no holidays

this is with wamu? this seems to be the case with ing as well. i can't transfer back to my account until the 17th of june.

 

[cHeeZeFacTory]

yes, the money is safe with the FDIC, but it can take up to 18 months for them to give you your money back.

 

[tynopik]

Originally posted by: LuckyTaxi
this is with wamu?

yes

 

[tynopik]

Originally posted by: cHeeZeFacTory
yes, the money is safe with the FDIC, but it can take up to 18 months for them to give you your money back.

i believe in most cases it's next business day unless something funky is going on

 

[LuckyTaxi]

Originally posted by: tynopik

Originally posted by: cHeeZeFacTory
yes, the money is safe with the FDIC, but it can take up to 18 months for them to give you your money back.

i believe in most cases it's next business day unless something funky is going on

oh forget that. thanks guys, ill stick with ing for now.