Just received a packet from Chase regarding changing terms for existing Wamu accounts.
Most of the perks of the free checking account will stay (e.g. free domestic/international outgoing wire, free checks, etc.) Major changes for this account are - NSF refund will not be automatic, need to manually ask for it. Also no rollover of unused credit (1/yr) - If there is no account activity for 6 month, account will be converted to a checking account that has minimum balance requirement, or else monthly fee is charged
5% CD remains unchanged.
Saving for Success remains unchanged, the associated Sweep Saving account will not have a monthly fee.
Online Saving account will have no monthly fee.
FYI these terms only affect customers in WA and Oregon. It will be gradually rolled out to customers in other states in the coming months.
Message edited by: busterbaxter on 2009-04-28 00:53:29 CDT
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busterbaxter said:- If there is no account activity for 6 month, account will be converted to a checking account that has minimum balance requirement, or else monthly fee is chargedSo that's why they've been paying people $100 a pop to open new checking accounts.
mttatkns said:busterbaxter said:- If there is no account activity for 6 month, account will be converted to a checking account that has minimum balance requirement, or else monthly fee is chargedSo that's why they've been paying people $100 a pop to open new checking accounts.
The packet is kinda nice. It lists all your active accounts and gives a very short description of the major changes underneath each. Then there is a reference from each account to a specific page number in a booklet, which lists the new terms for each converted account.
Also note that the Online Saving account comes with this line, "monthly service fee will be waived at this time", which might imply that they will change their mind later. The "at this time" phrase does not appear in any of the other converted accounts that are currently free.
Message edited by: busterbaxter on 2009-04-28 12:35:03 CDT
sechs said:Aren't they supposed to encourage us to increase the number of products that we have with them, not decrease?They do, by paying you to open new accounts and airing commercials indicating that now is the right time for a relationship with Chase. They have to pay for the bonuses and airtime somehow!
mttatkns said:sechs said:Aren't they supposed to encourage us to increase the number of products that we have with them, not decrease?They do, by paying you to open new accounts and airing commercials indicating that now is the right time for a relationship with Chase. They have to pay for the bonuses and airtime somehow! I guess somebody else is going to be paying....
This should be for 'not-yet-matured' savings for success a(SFS) ccounts. When my wamu SFS matured in last march, they sent me a postal mail saying that the money is rolled over to my checking account as they have discontinued the SFS.
I'm in TX. busterbaxter said:
Saving for Success remains unchanged, the associated Sweep Saving account will not have a monthly fee.
For those of you who weren't reading the old thread and haven't checked recently, Chase had some almost useful updates on its WaMu welcome page: https://www.chase.com/welcomewamu/
One thing I'm not sure if answered yet is whether or not Chase is going to charge $3.00 for outgoing ACH transfers for existing WaMu accounts when they become Chase accounts. I'll send a bank mail and ask. Anyone know about this?
PerkGetter said:One thing I'm not sure if answered yet is whether or not Chase is going to charge $3.00 for outgoing ACH transfers for existing WaMu accounts when they become Chase accounts. I'll send a bank mail and ask. Anyone know about this?
Is it for a push from WAMU or pull from external bank or both?
quizzer25 said:PerkGetter said:One thing I'm not sure if answered yet is whether or not Chase is going to charge $3.00 for outgoing ACH transfers for existing WaMu accounts when they become Chase accounts. I'll send a bank mail and ask. Anyone know about this?
Is it for a push from WAMU or pull from external bank or both?I'm going to venture to say push.
sechs said:Ouch. This slumming around on the old WaMu systems seems like a pretty good deal right now.
Then again, the computer slapped a hold on a check that I wanted to deposit yesterday, and they've taken away the ability of managers to waive them. The computer slapped a hold on my Federal Tax Return, and they sent me a letter promising they'd do horrible things to me if the check I deposited bounced. Although the hold was only one day, the letter took a week to arrive, so the hold was essentially 7 days.
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