Nice summary of WAMU and their online offering, which is highly differentiated.

Washington Mutual’s Web Site Ranked No. 1; Change Sciences Ranking Based on Customer Experience

Earlier this month, Washington Mutual enhanced its online channel with a paperless account opening process in support of the new WaMu Free Checking(TM) account. Accounts can be opened in minutes at “www.wamu.com” with online approval and authentication technology that eliminates the need to mail a traditional signature card. Instead, the customer uses a special check that is included with the first order of checks and then when the bank processes that check, it uses the signature on that check as a sample for future processing.

Banks Have Worked Hard to Create a Kinder, Friendlier Experience

Steve Ellis, a Change Sciences partner, said, “Most people see banking as drudgery. The best banks are working hard to create a kinder, friendlier experience online — and Washington Mutual has pulled ahead of the others in doing this.”

In addition to the new streamlined online account opening process, the WaMu Free Checking(TM) account provides an unprecedented bundle of free features, added Rotella. The new WaMu Free Checking(TM) account offers all the features of WaMu’s original Free Checking account plus: free ATM cash withdrawals, a free overdraft or insufficient funds fee wavier each year, free checks for life, cash back for debit card purchases, free outbound wires, free low-balance alerts with online banking and more (see below for more account information).

“When you add it all up, the value of the new free checking account combined with the convenience of opening it entirely online clearly sets a new standard in banking,” stated Rotella.

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