Wamu currently offers an almost 0% interest statement savings account, which can be opened at one of the Wamu branches. "Almost 0%" means here 0.01% per year, not per day, not per month. Ouch!
Investing $1.000 in such an account would give you the exceptionally high amount of around 10 cents or $0.10! Not a really an attractive investment, even today.
Wamu Online Savings Account
The Online version of the Wamu Savings Account offer you around 75 times the interest of the Wamu Savings Account, which means 0.75% per year.
Therefore such an account would be a much better, as an investment of $1.000 would give you at least $ 7.50 per year.
Catch: Online Application
The only problem is that the Wamu Online Savings Account can only be opened online providing a SSN and a US identification document number and validity date. There is no alternative option to get this account!
Therefore it is virtually impossible to get this account as an NRA (non resident alien) or a US person without a SSN.
News:
Wamu now mentions now on its website, that it also accepts a "taxpayer ID number".
Taxpayer ID could mean SSN, ITIN or EIN. But there is no clarification given.
The Wamu help pages do not provide any information either, if "taxpayer ID number" is entered. Therefore it is not clearly stated, if an ITIN (Individual Taxpayer Identification Number) could be used. But give it a try!
