WaMu Raising Savings Rates to 4%

I just got word that WaMu will be raising their rate on their online savings accounts to 4.00%!  Looks like the rates really might be back on the rise.

Of course, WaMu is reportedly in trouble so it could just be a ploy to get some quick deposits so that they can get a little capital and shore up their books.  We’ll have to see if there are any other banks that are going to raise their rates to tell for sure.  And the other question would be, how secure do you feel having your money in a bank that could go under at any time?  It’s only a problem if they go under and more of an inconvienence really.

The other caveat is that you have to have a WaMu free online checking in order to have their online savings.  Not a big deal, but one more account to try and keep track of.

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