dyelun said:dyelun said:mingsi said:I just applied online and the application get cancelled after ask the indentity questions, saying for security reason... blah, has the credit report already being pulled at this stag? Thanks.

Same thing happened to me. I don't have a freeze at any of the 3 credit agencies. Does anyone know if a soft or hard pull has happened at this stage?

I just called WAMU's CS rep and they said that a hard pull is not done at that point - matter of fact she said they haven't pulled credit at all at that point. However, I get the sense that she's not too sure of her answer.

She then forwarded me to her sales dept and I asked for their assistance in helping me signup for the CD. The rep told me that I would have to wait 7 days before I can reapply and that the only way to get the online rate would be to apply online, not B&M or over the phone. I told him that the 5% promo is scheduled to end in 3 days and he basically said it was out of him hands. Not to mention the online app would prob deny me again anyway.

UPDATE: Just went to a B&M around my office and signed up for a 13 month 5% CD without any issues. Funny how the rep on the phone said that the offer was only available online.

Can anyone comment on whether WAMU's current economic health?

Are they really about to go under?

I guess the 4.5% at Wachovia wouldn't be too much of a loss compared to 5.0% here if WAMU is in a tight situation.

AlanTheWoo said:Can anyone comment on whether WAMU's current economic health?


It's so bad they took back their .64 cents in trial verification

Finally, after a couple days, (deep thought) decided to go for the 5% 13mo CD.

I added 3 POD's to the account to be on the safe side. Hopefully
everything will be ok. I know WAMU is on the list.

I'm not going to worry because I should be safe under FDIC.

pattyb53 said:Finally, after a couple days, (deep thought) decided to go for the 5% 13mo CD.

I added 3 POD's to the account to be on the safe side.
Did you put in over $100k? If not what you did will not matter. 3 condoms might make you safer but 3 PODs on less than $100k wont. Don't worry I have faith in the FDIC and that our Government does not want to see a bank this large fail. I did Wachovia 2 weeks ago, Now WAMU and think I will move my money from my Corus MM to their CD. I guess I like living dangerously

You guys think WAMU will die before this scheme ends on 8/29 ..LOL !!

beautyt42 said:There are 117 banks on the risky rocky FDIC list. There are only about 4 big banks around my house. So I close my eyes, say minie mynie mohe hoo hee hee, and deal with all of them. I then went home and got hee hee high high. can anyone of you count which one may fail? I can't.I like to watch the stock price of the bank to see how close it might be to closure. I watched IndyMac's stock fall and I knew its closure was very close.

Here's a fun little analysis to compare WAMU's stock price with IndyMac and other bank stock prices with their 52 week highs.

For comparison, these banks are reputed to be among the safest:

US Bank     30.47 / 35.25 = 86% ratio
Wells Fargo 28.69 / 37.99 = 76% ratio

Bank of America 29.02 / 52.96 = 55% ratio
Citibank        17.84 / 49.00 = 36% ratio

May 10, 2 months before closure 3.06 / 25.50 = 12%
Jun 10, 1 month before closure  1.80 / 25.50 = 7%
Jul 3, 1 week before closure    0.67 / 25.50 = 3%
Jul 10, day before closure      0.31 / 25.50 = 1%
IndyMac today                   0.06 / 25.50 = 0.2% ratio

Washington Mutual 3.59 / 39.25 = 9% ratio

So judging from Indy's stock trajectory, WAMU could be less than a few months from its demise. But of course, WAMU may not have a senator to incite a bank run to hasten the process, so it's not an equal comparison. Without a bank run, WAMU may last longer, maybe alot longer. Also, since I don't have access to IndyMac's 52-week high at the various dates listed above, I used today's 52 week high, which may skew the ratio somewhat (I suppose I could do a similar comparison with 365 day moving averages).

The preceding analysis is completely unscientific and is for ENTERTAINMENT purposes only

hjdut said:I opened a CD at WAMU on 8/22, which is 4.5% APY(: do I need to terminate the current one and reopen it? how much is the penalty? Thanks

I think the penalty is 180 days for CDs up to 12 months.

nm

I recently had a very bad experience with WAMU. I opened a CD a few weeks back via online signup. Provided a routing number for the account funds were being withdrawn from. Replied to the WAMU email with the amount of the micro transfer and then received an email saying I had successfully funded my CD. The next day I could not log into my WAMU account and I was told I needed to go to the nearest branch office to show my ID to unlock my account. Went through the hassle, showed my ID and was then told I would have to fax a copy of my bank statement from my funding account to some corporate WAMU office to show proof of ownership. I refused to fax the information and was left with no other option but to close the account.

Three weeks prior to this I opened a Wachovia CD online via the same funding account with absolutely no hassle.

I am sure many have had no problems but this was my first adventure with WAMU and will likely be my last.

darc87