Washington Mutual Bank commercials are making a lot of fun of traditional banks by touting Washington Mutual has done away with many fees while other banks are looking to charge more.
Consumer Reports checked out Washington Mutual's offer and says it's bucking the banking industry trend by charging fewer fees.
For one, Washington Mutual won't charge you if you use another bank's ATM. Consumer Reports points out you will have to pay the other bank's ATM fees, but Washington Mutual isn't charging a fee. Few banks do this, and if you routinely use another bank's ATM, it can add up to real savings.
In addition to not charging ATM fees Washington Mutual is also offering free checking, three cents back on each debit-card purchase, and a break on bounced checks -- you get one each year without any penalty. The offer is available online at WashingtonMutual.com to anyone with a U.S. address.
Consumer Reports says Washington Mutual is trying to get people in the door to do more business with the bank, such as credit cards or loans.
The Washington Mutual offer also includes no charges for outgoing wire transfers along with the free checking. Consumer Reports says those two giveaways aren't such big benefits -- because people don't do wire transfers very often and they're writing fewer checks.
