I had some cash I wanted to put somewhere and get a good interest rate. I thought about getting another Series I Savings Bond since they currently pay 4.8%, but they penalize you 3 months of interest if you sell them before 5 years. Washington Mutual was advertising 1-year CD’s at 5% last week. I think they are trying to raise cash since they are one of the banks in trouble. I was able to sign up online, but they made me verify my checking account by electronically depositing two small payments (then I report back to them the amounts and they would know everything worked). ING, PayPal, and Google AdSense do the same thing, but it does take a couple of days for the deposits to show up (both less than a dollar, usually less than 20 cents each).
So I waited. Within a day or two I checked my bank account and they had deposited 72 and 94 cents. But I also noticed there was a *third* transaction taking those two deposits back ($1.66). They really are short of money.
The nice thing about it was I don’t have to make an entry in my checkbook register.