Ok yesterday I was in a conundrum when I heard the news report that my bank Washington Mutual (Wamu) is going bankrupt. I’m going on a long vacation in 2 months and I don’t want to go without any money. So earlier, accompanied by my dad, I made the switch to Bank of America. I transferred some of my money to there. I also mentioned in my previous post that BoA has all these kinds of fees just by opening a new checking/savings account, which really turned me off. Who would like to pay extra just by putting your money in the bank right? Fortunately my dad was able to speak to a representative prior to me going there to open an account. And the representative was a Filipina, who was very helpful and sympathetic towards her own nationality. She steered us to another caucasian rep and whispered to him to give me a free account (*kaching!*). The rep was really awesome. He basically waive the monthly fee for the account for forever! And the fee for my first order of cheque will be waived too (*kaching! kaching!*) I’m starting to like BoA.

But of course there are regrets: my savings APY (annual percentage yield) would only be 0.25% in BoA while in Wamu I was enjoying 3.75% APY; Wamu has free cheques for life while I pay my every order of cheques in BoA; Wamu has a debit Mastercard while BoA has only a debit/ATM card; to open a Wamu CD is only 1K, while BoA is 5K….I really wish Wamu can still continue. It’s the most hassle-free and customer-friendly/benefical bank I ever had….oh well~~~~

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