Does any body know about money market accounts with Washington Mutual?

Question

Does any body know about money market accounts with Washington Mutual? I wanna open one up if it's worth it. I wanted to know the do's and don'ts.

Answer 1

I have account in WAMU (Washington Mutual) and I think they have really competitive rates even on normal savings account.

See if you can find a deal from WAMU's website. I opened up an account online with WAMU (sometime in December last year) and they pay me 3.45 % on a normal savings account....compare this to 2.25% that BoA (bank of America) pays me on my 1 year CD.

I just checked WAMU's website and there is some deal on CD where they are paying upto 4%.......no luck with money market or savings deals.

Alternatively, I'd suggest you can try BoA, very recently they had a deal where they pay 2.25% on a 9 month CD. This is a hybrid CD that works more like a savings account - you can withdraw money anytime you like without penalty and there is no risk associated with this.

Answer 2

$500,000 + 2.80%  2.84%  

Their rates aren't very good, even if you have a 1/2 million dollars to give them.

You're better off finding something here:

http://bankrate.com/brm/rate/highyieldmm...