Washington Mutual Online Banking

Washington Mutual Bank CD rates are now practically the rates offered by the Chase Bank. Washington Mutual was acquired by Chase in 2008 after it filed for Chapter 11 bankruptcy. The company is currently in the process of integrating WaMu branches into its system and has already done so in many areas of the country.

WaMu Bank CD rates are still used by some customers that are comfortable with the old arrangement. The company offers a diverse amount of CD accounts for its customers. The minimum amount required for these certificates is $1,000 under the regular option and $10,000 under the special certificates.

WaMu CD rates for a 6-month certificates are priced at 0.25% whereas a 12-month investment would also yield the same APY of 1.25%. A 3-year CD investment results in an APY of 1.01%. The company also offers the same interest rate for its 3-year certificates.

The special CD accounts start with a 7-month APY of 0.50% and a 13-month CD with 1.01% APY. The rates go higher for a 24-month CD at 1.50% APY and 36-month CD at 2.00%.

A 4-year CD investment results in an APY of 2.50% whereas a full 5-year CD term would yield 3.00% returns. The company offers an online account opening option and offers the option of either a single CD account or one with a joint ownership. Penalties are imposed in some case in case of an early withdrawal though the bank also offers automatic renewals and other reinvestment options.

Washington Mutual Platinum Credit Card Review is of a card that is now owned by JP Morgan. As of the end of 2008, Washington Mutual was purchased and the Chase Credit Card branch of JP Morgan has taken over these accounts. For about half of this past year card holders were able to access their accounts thru the Providian web site but that too has been moved to chase.com as well as WaMu Online Banking, there is a redirect.

There is access also at wamucardslogin.net along with information. There are no monthly or annual fees associated with this card. With WaMu Online Banking, card holders can monitor their spending and their FICO score.

All access to your account will be channeled thru Chase online. There are WAMU credit cards still available but it is only in name. The bank and all of its holdings have been absorbed by Chase. The reputation and history is all gone. If you feel it necessary to hold on to your card, it is your choice. But card holders must realize all of the relationships they had established with Washington Mutual are gone.

Chase does have its good points, but they are a very large organization. This allows them to give great deals and introductory offers of 0% interest. There are also very large with capital assets to draw on for financial stability. This can make some investors and customers at ease during these financially uncertain times.

With consolidations and mergers happening constantly, keeing the name on a credit card or any other financial statement is just identifying them at the present time, maybe. This Washington Mutual Platinum Credit Card Review does not have a comment for a card from a bank that is only a name anymore.

The WaMu Loan Modification Program is available to help home owners keep their houses. This also helps WaMu from having to deal with foreclosed properties that they can not unload.

With encouragement from the Obama Administration, financial institutions like WaMu have become easier to deal with.  There are still some requirements to qualify, but it is a lot easier than before. One of the requirements is that the house needing a modification to the loan must be the home owner’s principal residence. This excludes all property that was purchased as investments. The loan amount can also not exceed $729.750. The loan must also be a first mortgage that has never been modified or changed.

The best part of a loan modification is that a credit check or reference to the borrower’s credit score does not come into play with this modification. What is required are the documents that show your income, expenses, taxes, and any other financial responsibility that you want them to take into consideration, including your savings account.

Most WaMu loan modifications aim to make your payment about 31% of your monthly income. This should leave enough for you and your family to live on. Some people can contact WaMu directly and negotiate their modification. This is a very complicated procedure. Most credit counselors advise hiring a middle man that is experienced in this type of matter to handle the negotiations for you. This is best since the bank will do what they can to keep your payment as high as possible. They are professionals that are only in business to get money from you. Remember this is how they make a living.

Being involved in the WaMu Loan Modification Program is a very complicated deal. Get help from an expert unless you are a financial expert.

Now that Washington Mutual has been purchased by Chase Bank, we here at Savings Accounts 411 are going to show you what they have to offer in replacing WaMu.

Chicago-based Chase Bank is considered as the safest bank in the United States. Its parent, JPMorgan Chase, was the only company that remained almost unscathed from the biggest financial crisis in the country. Chase has evolved itself as a major player in the international banking market and now offers most of its services over the Internet.

Chase Online banking is a complete package for its customers where they can utilize almost all services of the bank without any delays. The first and foremost option on offer is access to personal banking accounts. Customers can sign up with the bank’s Web site by entering their checking or savings account numbers, social security numbers or ATM/Debit card numbers. After a basic registration, they would be allowed to use the online features of the company. They can keep an eye on the checks issued under their account, stop payments, transfer funds to other accounts and also pay their bills. Wire transfers to other banks’ accounts can also be made through this system.

Chase Online also features mobile banking option where customers can access the company’s Web site by using their WAP browsers. Additionally, text messaging can be used for this purpose.

Chase banking online offers daily account alerts to its customers. They, however, would have to subscribe to this option; they can do this by simply checking the relevant option during the registration process. The bank also makes calls to its customers in case of any unusual transactions or problems with credit cards.

As we continue to cover Washington Mutual changes, we here at Savings Accounts 411 keep getting questions from our readers. This time, we’re addressing how credit cards moved to Chase after the takeover.

Chase Bank is the new parent of Washington Mutual and has integrated all the businesses of WaMu. WaMucards Online is the older name of credit card services provided by the company. They are practically taken as Chase Bank cards after the integration but are often interchanged with each other. Although the company used to offer many brands of credit cards, all of them have become obsolete with the integration or have been inducted into the company.

Washington Mutual credit cards are now available under the Slate with BLUEPRINT brand. These credit cards offer a great number of services and have also introduced new aspects of cash free shopping. There are no annual fees deducted on these credit cards and the starting Annual Percentage Rate is 0%. Additionally, there is an unlimited cashback facility with the starting amount of $50. Other brands of credit cards include Ink, Sapphire and Freedom with each of them offering a number of perks and options.

WaMu online credit cards can be interchanged with the newer range of products from the Chase Bank. The company has already integrated the accounts of WaMu customers into its database and they can purchase these credit cards by contacting their local bank branches. It is important to note that older brands of credit cards that were offered by WaMu are not included in the above-mentioned products. Customers need to contact their respective bank branches to settle out any old payments or buy new cards.

It has been over a year since the bankruptcy and dissolution of Washington Mutual. So we here at Savings Accounts 411 thought we should talk about routing information for WaMu.

JPMorgan Chase acquired the bank from FDIC in September 2008, immediately after it was placed into the receivership. As JPMorgan Chase has become the new owner of WaMu, old customers have also been integrated with the Chase bank branches. The new parent company took control of the branches while closing some that were non-profitable or redundant. Washington Mutual routing number has become the main identity for its customers that are now doing business with Chase.

This number is basically the computer-generated identification that is usually present at the bottom left of a check. It is a nine digit number that is present between the symbols/alphabets in the checkbook. Chase is transferring the accounts to its system and customers of WaMu can keep track of their deposits by gleaning the routing for Washington Mutual. Finding this number is essential for direct deposits in accounts as compared to the longer procedure of taking a checkbook. This also removes the need for any physical authentication and other procedures.

WaMu routing number can be tracked by visiting the Web site of Chase Bank and then searching for bank account. There is a tracking facility available that can guide customers in this regard. There is actually a simple process of doing this as every state is given a separate routing number. In many cases, separate routing numbers are allocated for metropolitan areas and different regions of a state.

Since we here at Savings Accounts 411 still get questions about WaMu personal account changes and how a Washington Mutual personal account has changed since the takeover by Chase, we thought we should address this on our site.

Over a year ago, on September 25, 2008, at the close of business day, the assets of Washington Mutual Bank were seized by the U.S. Office of Thrift and Savings on behalf of the Federal Deposit Insurance Corporation. The FDIC then put WaMu into receivership and sold all assets of Washington Mutual Bank (as well as some assets from Washington Mutual, Inc. – the owner of the bank), including all WaMu personal account holdings, to JPMorgan Chase.

The next day, Chase Bank opened Washington Mutual bank branches and later the website with the announcement that they now owned the bank. Banking continued as usual for many customers, though many left the bank feeling it was now unstable.

If you still have a personal account at WaMu, it is a Chase Bank account. If you log in to the website, go into any Chase Bank or old WaMu branch, you’ll see everything from your old Washington Mutual personal account (checking, savings, etc.) is now under a Chase Bank account.

Hopefully this clears up any questions you have about your WaMu personal account. You are free to transact business as normal at Chase Bank to close, move funds, or continue banking with your old personal account at WaMu as a Chase Bank customer.

Here at Savings Accounts 411, we are still getting messages from people asking why the Washington Mutual home page has changed and what this means for their accounts and the bank. So we thought we should answer these WaMu home page questions here on the site.

On September 25, 2008, the United States Office of Thrift Supervision (OTS) seized Washington Mutual Bank from Washington Mutual, Inc. (it’s corporate owner) and placed it into receivership status with the Federal Deposit Insurance Corporation (FDIC). This happened because deposits at the bank over ten days during the beginnings of the financial crisis totaled $16.4 billion, which was 9% of the total deposits on hand as of June, 2008.

That bank run nearly shut down the bank’s monetary operations, as cash on hand (cash not tied up in loans or trades) was nearly gone. This put the bank in default of it’s FDIC insurance requirements.

The secured assets of the bank were sold to JPMorgan Chase in a somewhat controversial sale at $1.9 billion, estimated to be only about a quarter of the bank’s true value. JPMorgan Chase opened the WaMu home page and offices the next day, resuming operations and hoping to keep current customers from jumping ship.

It took a few days for the home page of Washington Mutual to reflect this as well as for WaMu customers to receive notice of the ownership change.

Washington Mutual was the sixth largest bank in the nation before seizure by the OTS/FDIC. It’s parent company, Washington Mutual, Inc., filed for Chapter 11 bankruptcy the day after the bank was seized, having lost most of its assets and funds.

In March of this year, on the WaMu home page (which now displays the Chase symbol), an announcement was made that the newly-reformed Washington Mutual, Inc. (out of bankruptcy) had filed suit against the FDIC and OTS for unlawful seizure, seeking damage of $13 billion for both the seizure and the non-negotiated, lowball sale price to Chase.

The Washington Mutual home page now displays the Chase home page and redirects customers to the new banking services offered by Chase.

It’s now official. All credit cards at WaMu have been moved over to Chase, after JP Morgan Chase bought out Washington Mutual late last year. The Washington Mutual credit cards have now been replaced with Chase cards and terms, but there are some good WaMu credit cards offered under the new Chase name.

Currently, the simplest offer is the Slate card which has a 0% introductory annual percentage rate (APR), patented fraud protection with zero liability, email and text alerting for card transactions, and no annual fee. Many old WaMu credit cards were converted to this type.

The Unlimited Cash Back card (Chase Freedom), has a 1% cash back offer for all purchases, 3% cash back in categories like gas, home improvements, etc. and a 0% introductory APR. There is no annual fee and a $50 cash back on your first purchase offer too.

For points earners, your credit cards at WaMu were limited, but now with Chase there’s the 2 points for every dollar offer on their Unlimited Sapphire card and those points never expire. You get 24/7 access to phone support, there’s no annual fee, and your first purchase could net you 10,000 bonus points with this card.

Finally, the business owner will like that their Washington Mutual credit cards were likely swapped to the Ink card, which has Ultimate Rewards (similar to the above card), online shopping bonuses, and points can be used for more business-oriented purposes like travel or gift cards for gifting. It has zero liability protection, of course, and is globally accepted.

So now that your credit cards at WaMu have switched to Chase, you might be finding that the new cards are better than the old. Who knows?

Many Washington Mutual customers are a little nervous about the switchover to Chase Bank that their banking is undergoing and are wondering how things might change for them. For many, one of the strongest suits that WaMu offers is its customer service and the ease of online banking at WaMu.

So far, WaMu Online Banking 2009 hasn’t changed much, just the title on top of the screen (announcing the move to Chase). The same services that Washington Mutual Online Banking has always offered are still there. Account holders have been told that their accounts will move to Chase without changing numbers and it may be some time before online banking at WaMu changes completely to Chase’s system.

Most of the services that WaMu offers online are also offered by Chase, of course. The difference is the look and feel and the location of items between the two sites. Security at both WaMu Online Banking 2009 and Chase is high, of course.

Many of the expected changes will be to the accounts themselves, as checking, savings, et al are moved to Chase versions of the same. Whether this means a change in offers is anyone’s guess.

Online banking at WaMu will be missed by customers who loved their bank, but with Chase being a leader in the industry, it’s not likely that the changes will be all or even mostly bad. For now, WaMu Online Baning 2009 may be the last year for the blue banner.