Comments on: Compare CD Rates http://www.jumbocdinvestments.com/cd_rates_blog/2008/03/compare-cd-rates/?utm_source=rss&utm_medium=rss&utm_campaign=compare-cd-rates Your Bridge To Banking Success Thu, 12 Jan 2012 15:23:05 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: No more WaMu CDs http://www.jumbocdinvestments.com/cd_rates_blog/2008/03/compare-cd-rates/#comment-34 No more WaMu CDs Wed, 26 Mar 2008 18:39:08 +0000 http://jumbocdinvestments.com/cd_rates_blog/2008/03/18/compare-cd-rates/#comment-34 I will not put money on WaMu (Washington Mutual) CDs anymore. Wamu doesn't make it easy to redeem CDs. The only way to redeem is by calling their phone number. In contrast, other reputable banks allow online redeeming of CDs (very easy, very quick process). I had to Call Wamu several times, each time the wait is pretty long. They are not open that many hours and when I finally got through after 15+ minutes, I got transferred to the CD redemption department (another 10 minutes). I was told that I?ll get my check in 5-7 business days. Called again, Wamu said it will be mailed soon. Called after 7 business days, only to be told that the first person made a mistake and the checks were never sent. Another 5-7 business days. When the checks finally arrived it was more than 3 weeks late and mind you, WaMu doesn?t even pay interest for the time that held my money without sending a check. I have had much better experiences with highly rated and FDIC insured banks such as VirtualBank, Ascencia Bank, and Corus Bank (see bankrate.com for more info) I will not put money on WaMu (Washington Mutual) CDs anymore. Wamu doesn’t make it easy to redeem CDs. The only way to redeem is by calling their phone number. In contrast, other reputable banks allow online redeeming of CDs (very easy, very quick process).

I had to Call Wamu several times, each time the wait is pretty long. They are not open that many hours and when I finally got through after 15+ minutes, I got transferred to the CD redemption department (another 10 minutes). I was told that I?ll get my check in 5-7 business days. Called again, Wamu said it will be mailed soon. Called after 7 business days, only to be told that the first person made a mistake and the checks were never sent. Another 5-7 business days. When the checks finally arrived it was more than 3 weeks late and mind you, WaMu doesn?t even pay interest for the time that held my money without sending a check.

I have had much better experiences with highly rated and FDIC insured banks such as VirtualBank, Ascencia Bank, and Corus Bank (see bankrate.com for more info)

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