Wednesday, July 23, 2008

Saving for a rainy day

Since my old house currently has a Sale Pending, I have been looking into different nvestment options. One of the things that I looked at was Savings Accounts with different banks. Washington Mutual is a local bank that I used to use for Business Banking in Titusville. The customer service associates were always very friendly and the lines were always shorter than some of those other banks. A Statement Saving account is available with a $5.00 minimum and earn 0.25% interest. They also offer many other investment options including Online Savings, Traditional CD's, Online CD's, and Liquid CD's. A 9 Month Traditional CD that is less than $10,000 is currently going for 1.25% APY. One of the other things that I really liked was that they offer a Free Checking Account that even includes Free Checks. WAMU seems to offer many free options whereas Bank of America seems to charge you for everything. I have been very negative on Bank of America lately because the last few times that I have gone in there it has taken me over a half hour to get through the line. If I had to go on my lunch, I wouldn't be able to. This is one of the main reasons that I looked at Washington Mutual. There seems to be quite a few branches in Florida, but I'm sure they are available in other states as well.

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Jo said...

Why not try out one of the online savings plans? I have ING and earn about 4 percent. That's better than most CDs, and they're FDIC insured.

Sassy Mama Bear said...

We use a local Credit Union mainly because we prefer the friendly environment and the actual honest help. every time we went with a major banking institution we got frustrated with hidden fees and such. Just my opinion. I do think time it takes to get a transaction completed is a very important factor to consider though. Good luck!

The Q Family said...

Check out the online saving from WAMU.. You will get better rate than 0.25%. Their rate for the online saving is very competitive and actually is higher than ING. But you have to open it online. I love it since I can link it to my current checking account for easy transfer..

-Amy @ The Q Family