Friday, September 26, 2008

The WAMU is Consumed...Whoo Hoo?

Yes, I am a Washington Mutual customer, have been for years. I used to think it was the best bank, they had a small office blocks from my office, they had ATM's and bank branches everywhere I traveled. They had a great checking plan with free money orders, and at the time, one of the best online banking sites. All was good. Then things just slid sideways, no real improvements, no real incentives to stay. I started direct deposit, so I never needed the branch. I rarely used an ATM, if I needed cash I just took cash back at the store with my debit card. The online account was good when it came out, but more often it was problematic, and slow. While other banks were offering special savings programs that tied to your checking or overdraft protection tied to savings, WAMU stayed behind. The blame will be on the mortgage securites crisis, but I think it is more than that.

If you too are a WAMU customer, the Consumerist posts an interesting account of what to expect now that CHASE has CAUGHT them.

You may also like to read my ATM opinion regarding WAMU's 1st question to every customer.
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