Funny story today: I went to make a deposit at my local WaMu (now WaMuChase or whatever they're calling it). While in line, the teller asked me if I'd ever done an "account review" for potentially better savings rates. I said no, and asked for more info. She was very vague, and said she didn't want to "say something that wasn't right" and that this other person "could sit down with me and tell me what the latest rates are".
"Surely you can give me a summary?" I ask.
"No, I really can't - but TL over here can sit down with you and give you all the info."
I know WaMu's published rates. The teller made it seem like they had something special going on. Having a few minutes to spare, I agreed to consult with this TL person.
After a few minutes, TL (who is another one of the tellers) comes by, asks for ID, finds my info, and then starts to ask me a few things.
"So, are you looking for something more liquid or something like a CD?" he asks.
"It depends," I reply. "What are your rates?"
"Well," he says, after typing on his keyboard for a few moments. "We have a CD rate around 2.75 right now."
"No thanks," I say, "I'm getting 4% savings online, through another bank. And that's liquid."
"Ah," he says. More typing. Then, "we have a long term CD at 5%. What about that?"
"No, I can beat that online, too."
"OK, then," he concludes. "That's all I can offer."
OK, so just to summarize, these people asked me to take extra time out of my day so they could quote me their published (and somewhat sad) savings and CD rates? Give me a break.
Look up yields for CDs and for savings/money market accounts, and then compare with what WaMu offers. Then laugh. Then wonder how they're going to attract retail customers now that their thrift business has evaporated, and the competition is getting tougher.
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