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5.00% Money Market Account at Wachovia in Texas

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Wachovia Bank
For those in Texas who prefer brick-and-mortar banks, this might be a decent deal. Wachovia is advertising a 5.00% APY on its High Performance Money Market account. It requires $10K to earn this rate (under 1% for smaller balances) and a new or existing Crown Banking checking account. This rate is not listed at Wachovia's website. It was advertised in today's Dallas Morning News. The ad is available online here. The special is only for those in Texas.

There doesn't seem any guarantee to how long this 5% will last. The standard rate for a $10K balance listed at Wachovia's MMA page is 2.61%. So that's one downside. Also, you'll have to watch out for monthly service fees. The High Performance Money Market Account has a $10/mo fee for balances under $2.5K. The Crown Banking checking has a $20/mo fee for combined checking/savings balances under $5K.

For those considering this, you may also want to see if you can get the $50 checking account bonus first. Then open this 5% money market account. Please refer to my previous post for more info on this checking account special.

  Tags: Wachovia Bank, savings account

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Comments
Comment #1 by Banking Guy (anonymous) posted on
Banking Guy
A reader just mentioned that a similar money market account is now being advertised in California. The interest rate is a tad higher at 5.10%.

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