If I open two washington mutual accounts can I do this?

Question

I have a checking account in which my check are directly deposited to from where I work. If I open another account with washington mutual, and I want to put some money into the accont as like a savings type account..can I use paypal to transfer the money back and forth? If so, are there any drawbacks?

Answer 1

yes, paypal will charge you. you should be able to just transfer your money at washington mutual. ask your bank rep to show you how to do it. don't use paypal for that.

Answer 2

Most savings accounts must maintain a certain balance otherwise, you will get charged.

There are free checking accounts that you can use, and most banks are more than happy with direct deposits from your company and will waive the usual charges if you institute this. Also, you can link the two accounts so as to transfer money back and forth.

The only reason I can think of to use paypal would be to pay parties on the Internet or auction sites like e-bay.

Answer 3

i don't see that as a problem at all. however, no point in opening two accounts at the same bank unless you really want to or need to, as you may explore other benefits and perks of other banks (free gifts...etc.)

typically i dont see any drawbacks for linking paypal to my bank account, and keeping a separate one is definitely a good idea. Keep in mind, PayPal DID just come out with an online CD program if that's what you're looking for.

Answer 4

I'm sure Washington Mutual offers online banking. It would be so much simplier to transfer funds that way.

You can also get billpay and pay all your bills online thru your checking account. Gives you the option to schedule payments in advance and still have complete control.

Answer 5

Just have Washington Mutual link the two accounts and you will be able to electronically move money any time you choose.

Answer 6

Wamu..it also offers you free credit score every month...