Somewhere along the way I started to accumulate checking accounts, savings accounts, mutual funds, money market funds, credit lines and everything else. The result is that my finances are somewhat complicated just due to the sheer number of accounts that I have.
Every few years I work to cull the herd of accounts and try and get down to just a few accounts.
Regardless, a few times throughout the year, I will often find myself having my money in the wrong account. Maybe the money is in a savings account over there, when I am trying to pay an automated bill from a checking account here.
Now for each of my accounts I often find that there are different rules for their overdraft protection plans. One account enables the overdraft protection to kick in on any transaction unless the transaction is a bill pay transaction.
Another account has a stair step approach that enables the flow of funds from my own accounts first before it taps a credit line.
WaMu, formerly Washington Mutual before they reduced the web gridlock of their own name and decrease the length of their name to WaMU effectively working to brand themselves as young and hip and slangy, offers free checking, but you only get one 'free' over draft protection transfer per year, unless you upgrade to their premium account.
Personally, that sounds like a bit of a teaser to me and would mean that I would only opt for the Premium plan if I picked their plans.
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