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WaFd Bank: Overall Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.5 |
| Checking | 4 |
| CD | 3.5 |
| Money market account | 3.25 |
| Trustworthiness | 4 |
| Total | 3.75 |
WaFd Bank: Pros and Cons
| Pros | Cons |
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WaFd Bank Personal Savings Account Rates
The
If you're over the age of 18, you'll need to maintain at least $100 in your account to earn interest and avoid a
WaFd Bank Free Checking Account Overview
The
Customers also have access to over 37,000 free ATMs through the MoneyPass ATM network and won't be charged by WaFD Bank for using an out-of-network ATM. (However, the provider may still impose a fee.)
WaFd Bank Certificate of Deposit Rates
WaFd Bank has a special 13-month CD that pays a good interest rate for a brick-and-mortar institution — you'll also earn a higher rate if you have a WaFd checking account.
If you're considering other term lengths, though, online banks or credit unions pay more competitive interest rates.
WaFd Bank Personal Money Market Account Rates
While the
You'll need to maintain at least $1,000 in your account to earn interest and waive the
About WaFd Bank
Washington Federal, Inc. (WaFd Bank) is a brick-and-mortar financial institution with over 200 branches. WaFd Bank serves residents in Washington, Oregon, Idaho, Utah, Arizona, Nevada, New Mexico, and Texas and has over 37,000 fee-free ATMs through the MoneyPass ATM network.
Customer service is available 24/7 by phone.
The bank's mobile app has 4.7 out of 5 stars in the App Store and 3.1 out of 5 stars on the Google Play Store.
WaFd Bank is federally insured, so you may safely keep up to $250,000 in an individual bank account.
Is WaFd Bank Trustworthy?
WaFd Bank has been involved in a recent public controversy.
In 2020, WaFd Bank was required to pay a $200,000 penalty in a settlement with the Consumer Financial Protection Bureau when the bank was accused of reporting inaccurate data regarding mortgage transactions.
We also include ratings from Better Business Bureau, which looks at how a business responds to customer dilemmas.
WaFd Bank received a B rating from the BBB due to a few customer complaints that are still unanswered or unresolved. Read online customer reviews or talk to current customers to determine whether WaFd Bank might be a solid match for you.
How WaFd Bank Compares
WaFd Bank vs. Chase Bank
Chase Bank has branches in 48 US states, so it's the better choice if you want a larger branch network.
Both WaFd and Chase have several checking accounts to choose from, so the best choice could come down to what you're looking for. But
WaFd Bank vs. U.S. Bank
U.S. Bank is available in most of the same states as WaFd Bank.
If your priority is to avoid monthly service fees, WaFd Bank will likely be your first choice. In addition to having a free checking account, WaFd Bank has lower minimum balance requirements on savings accounts and money market accounts.
WaFd Bank FAQs
What states have WaFd Bank?
WaFd Bank is available to residents in Washington, Oregon, Idaho, Utah, Arizona, Nevada, New Mexico, and Texas.
What do I need to open a WaFd Bank account?
WaFd Bank lets you open an account online or at a branch. To open an account, you must be a US Citizen or permanent US resident. If you're opening a joint account, at least one person must be over the age of 18.
You'll need a minimum of $25 to open a savings account, checking account, or money market account. If you're opening up an account for a minor, the bank allows you to open a savings account with $10. CDs require an initial deposit of $1,000.
Is WaFd a good bank?
WaFd Bank might be a good option if you're looking to open a checking account at a brick-and-mortar bank. The
If you're looking to open a savings account, other financial institutions may offer a higher interest rate.