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$50 Checking Account Bonus at Wachovia

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Wachovia Bank
Update 4/2/07: This bonus has been extended to 4/24/07. See new post for more info.

Wachovia is offering a $50 bonus for opening a free checking account. The nice thing about this bonus is that it doesn't require direct deposit. The main requirement is a $100 initial deposit. Another nice thing is that it's paid in cash to your account (although there's some delay - 60 days from the offer's expiration date which is 04/01/07). You can apply online, by phone or by visiting a branch (be sure to bring a copy of the promo page). The promo code is FRNA.

Here's the link to Wachovia's promotional page. There's also a link to this page on Wachovia's home page.

Wachovia's free checking account has the basic components of free checking: no minimum balance requirements, no monthly fees, etc. It doesn't seem to offer all the perks of WaMu's Free Checking Account (my post) or Compass' Free Checking Account (my post). The main negative of this deal seems to be the potential hard credit inquiry (according to this FW thread.)

Thanks goes to Max who mentioned this deal in the finding deals post. More info is also available on this FW thread.

  Tags: Wachovia Bank, checking account

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Comments
15 Comments.
Comment #1 by Anonymous posted on
Anonymous
I will be doing this towards the end of march then...

1
Comment #2 by Anonymous posted on
Anonymous
SUPPOSE YOU ALREADY HAVE A CHECKING ACCOUNT AT WACHOVIA? THE OFFER AND DETAILS DO NOT SAY "NEW CUSTOMER", JUST "NEW ACCOUNT". SO TECHNICALLY I THINK A "NEW ACCOUNT" SHOULD QUALIFY FOR THE BONUS.

1
Comment #3 by Banking Guy (anonymous) posted on
Banking Guy
You are correct. I can't find where it says you have to be a new customer.

About when to sign up, that is a good idea to sign up in late March so you won't have to wait as long for the bonus to be received.

1
Comment #4 by Anonymous posted on
Anonymous
The fine print says "Account must be opened in good faith and remain in good standing through 04/30/2007 in order to be eligible for the offer". Any clue what the legalese "must be opened in good faith" is intended to mean?

1
Comment #5 by Anonymous posted on
Anonymous
the promo is good for existing customers only DESPITE the fact that some customer service reps will tell you otherwise. don't buy it! additionally anyone who is a current customer for at least 6 months in good standing does not have to undergo a hard credit pull. all of the above confirmed and executed by yours truly.

1
Comment #6 by Adam (anonymous) posted on
Adam
there is a $25 closure fee if you close your account within 6 months of opening.

1
Comment #7 by Anonymous posted on
Anonymous
Is there a hard pull for new customers?

1
Comment #8 by Amillionby40 (anonymous) posted on
Amillionby40
Thanks for posting this! I signed up and am awaiting my sign up bonus! Seems like a great and easy way to make an extra $50.

1
Comment #9 by rate freak (anonymous) posted on
rate freak
Hard pull, via Experian. The bank dude still calls it TRW.

1
Comment #10 by Banking Guy (anonymous) posted on
Banking Guy
A reader posted the following comment in the finding deals post:

wachovia has a free $50 bonus if you sign up for free student checking, which is different then the other current $50 wachovia signup bonus for regular free checking.

wachovia.com/misc/0,,1306,00.html

1
Comment #11 by Anonymous posted on
Anonymous
Is there a limit on the number of accounts and bonuses you can open and recieve. There is the potential hit to your credit with multiple inquiries. But is it possible? ie 6 accounts= $300 bonus.

1
Comment #12 by vivi (anonymous) posted on
vivi
I found wachovia charged me $16 for check? so actually this free checking account with $50 bonus not much left ($50-$16 - irs 1099)???

1
Comment #13 by Banking Guy (anonymous) posted on
Banking Guy
Was that $16 for the first order of checks?

1
Comment #14 by David (anonymous) posted on
David
visiting the above link shows the expiration date has been extended to 4/17. Or, this link gives you an identical $50 promo with an expiration of 4/24.

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Comment #15 by Banking Guy (anonymous) posted on
Banking Guy
David, thanks for the update. Since the new link is on Wachovia's main checking account webpage, I would consider this the official bonus page. I just did a new post on this. I added the link at the top of the post.

1