WaMu Free Checking Account and High APY Free Online Savings Account Offer

WaMu Free Checking is a fee-free checking account from Washington Mutual that offers a free Gold Debit MasterCard with Rewards, free ATM cash withdrawals, and free standard checks with one free overdraft fee refund per year, plus the WaMu Free Checking account only has a $1 minimum opening balance requirement.

The WaMu Free Checking account can be opened in conjunction with the WaMu Online Savings account to receive a high yield savings account with a 4% APY and no fees, although you don’t have to open the free Online Savings account to enjoy the benefits of the WaMu Free Checking account.

WaMu Free Checking with No Fees

The FDIC-insured WaMu Free Checking account has no maintenance fees, no monthly service charges, and no other requirements to avoid any fees, plus there is a low $1 opening balance requirement and many free banking services.

Free WaMu Gold Debit MasterCard with Rewards

WaMu Free Checking provides you with the free Gold Debit MasterCard that offers cash rewards for all of your debit card purchases.

You’ll receive $.03 for each Gold Debit MasterCard purchase transaction, including purchases made by phone, online, mail, or in person, for a total of up to $250 in cash rewards each year.

Your cash rewards for debit card purchases will be sent to you each year on the account anniversary.

Your WaMu debit card can also be used to make free ATM cash withdrawals worldwide, regardless of which bank ATM you visit. WaMu will never charge you for ATM withdrawals, although other banks may still charge you service fees to use their ATMs.

Free Checks from WaMu

WaMu Free Checking offers access to free WaMu-style checks for as long as you have your account, and additional check designs are available at the standard price.

WaMu also offers check safekeeping, which provides you with online access to actual images of the checks you have written in the past for viewing or printing whenever you need them.

Free Overdraft Protection from WaMu

WaMu Free Checking offers free overdraft or non-sufficient funds fee refunds that can be used once per year.

You can overdraw your WaMu Free Checking account once each year and receive a full refund on the non-sufficient funds fees, which is a nice option to have in an emergency when you need a quick cash advance.

WaMu Free Outgoing Wire Transfers

The WaMu Free Checking account offers access to free outgoing wire transfers worldwide, although foreign exchange fees and intermediary bank fees may apply.

WaMu also offers customized account alerts, free online account services, and 24/7 access to telephone banking.

WaMu Free ID Theft Services

The WaMu Free Checking account comes with free identity theft services to help protect you against credit fraud.

WaMu automatically provides all free checking account members with Free ID Theft services, including up to $5,000 in identity theft insurance and toll free access to identity theft recovery specialists, plus you’ll have access to ID Theft Inspect credit monitoring and identity protection services for an additional fee.

WaMu Free Online Savings Account Offer with 4% APY

Open a free Online Savings account when you open your WaMu Free Checking account online, and you’ll receive a 4% APY savings account with no account maintenance fees.

The WaMu free Online Savings account has no fees when you open it in conjunction with your WaMu Free Checking account, and you’ll receive a 4% APY on all of your savings account balances, with no minimum balance requirements.

There is a low $1 minimum opening balance requirement for the Online Savings account, but it must be opened with a Free Checking account or tied to another checking account from WaMu in order to receive the high APY and have the monthly service charge waived.

Even though this is WaMu’s Online Savings account and you must open this savings account online, you are still welcome to visit Washington Mutual financial centers or call their 24-hour customer service completely free of charge, so you’re not restricted to only using this account online.

The WaMu Online Savings account is FDIC-insured for up to $100,000, just like the Washington Mutual Free Checking account, so your money is completely safe in this Online Savings account.

WaMu Free Checking offers many free benefits and services with no maintenance fees, so take advantage of this opportunity to open the Free Checking account in addition to the free Online Savings account from WaMu to receive a high APY on your savings.

Additional Resources

Earn Higher Interest Rates with Online Banking.

Consider the benefits of these offers as well as the WaMu Free Checking and Online Savings accounts.


  1. says

    WaMu’s obviously taking a grab at new savings money, and chances are it’ll work. I highly doubt the rate’ll last forever. I’ve been with FlagStar for a while…they’re at 3.65% APY right now, just shy of what WaMu is offering, and have been near the top of rates for a couple of years now.

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