Posted on May 27, 2010.
With the purchase FDIC on Washington Mutual and JP Morgan Chase took it over from the FDIC ...? ... What happens now for those who, like me, who have control of several savings accounts and Washington Mutual? I do have accounts at about 4 and 3 Control of savings accounts ... I would total less than $ 2,000. I know money is protected by the FDIC and JP Morgan Chase. But the reason I chose Washington Mutual over a bank like Chase because Washington Mutual had no minimum amount you should keep your bank account, they have free checks for life (which I rarely use anyway), and they have like 2 FREE discovered about a year. I fear that now it has changed to Chase that I'll lose what led me to put my money in Washington Mutual. I especially want the thing, no minimum balance, free checks are also useful ... I am on disability and can not come with any money I have to go to my bank account a minimum balance and may also 't afford to pay for new checks whenever it is time to re command! Washington Mutual was THE BEST for my situation. And employees were / are SOOO friendly. I know they will keep the same employees, for the most part.
I need to know if they'll enforce the rules & Regulations Chase customers of Washington Mutual (I think they are), because if they do, I know there will be a requirement of minimum balance on all current accounts and savings accounts. Then I'll have to close all 7 of my accounts and moving them to the Federal Union of Teachers Credit or my local county bank (as I have a child in public schools I am eligible for the first and since I am a resident of my riding I qualify for the 2nd) ... but none of them are almost as good as Washington Mutual, and the two are farther from my house in Washington Mutual was the only bank ... others in my region is OTHER Chase Bank, indeed, but beyond that was my Washington Mutual branch.)
There's really no good banks left there now! My father warned me that this was coming, but I did not listen! Now I am worried what happens !!!!! next
For the next six months, things should stay about the same. You can check this site for more info:
http://www.chase.com/welcomewamu
After that, you may need to transfer your account at the credit union or local bank.
In fact, Chase has purchased the accounts directly from WaMu, the FDIC did not participate. However, the mechanics of the situation does not really count - in your case, what you guess is most probably true. You can get up to 6 months of WaMu terms, but more likely, those accounts will be integrated into the system of Chase and you will end up with terms Chase.