Dedicated to Deposits: Deals, Data, and Discussion

Wachovia's 5.10% Money Market Account Promo in Austin, Texas

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Wachovia Bank
Wachovia has a 5.10% APY special for its High Performance Money Market Account. It's only available for those in Austin, Texas. It requires a new account be opened online with a minimum deposit of $10,000 of funds new to Wachovia. If the balance falls under $10K, the yield drops to under 1% and if the balance falls to under $2.5K, you're hit with a monthly fee. Full details and the online application are available at this promotion page.

For those who prefer brick-and-mortar banks, this seems to be a decent deal. Note, there's no guarantee about how long this 5.10% will last. The standard rates for balances between $10K and $25K are only 2.50% APY. Previous money market promotions at Wachovia in other cities have typically lasted for 3 months (see post). However, as a commenter had mentioned, this could be a reaction to Capital One's 5% Checking Account deal that's underway in Austin and San Antonio (see post). Even though 5.10% is a little higher, I would still consider the Capital One special to be a better deal, and for those in Austin who don't mind using a debit card, the 6.01% Checking Account deal at United Heritage Credit Union is even better (see post).

Wachovia also has a $50 checking account promotion that's available nationwide. Plus, there are some higher checking account bonuses available in California and the Northeast. (see post). A reader in the previous post mentioned that Wachovia does a hard credit pull (via Experian).

Thanks to the reader Mario who mentioned this money market special in the finding deals post.
  Tags: Wachovia Bank, Texas

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Comments
3 comments.
Comment #1 by Anonymous posted on
Anonymous
Why did I get paid interest twice from HSBC direct this month? I got one from 6/04-06/21 and another payment from 06/22 -07/03. Also I got 5.06% what does this mean

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Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
I did not see that on my HSBC Direct account. You may want to comment on this HSBC post to see if anyone else is having this issue.

1
Comment #3 by Darvin (anonymous) posted on
Darvin
Hello. I find your blog is very interesting. So much has already been said about banks – good and bad. Wachovia Bank is one of the most popular among the dissatisfied customers, the majority of reports have been posted about it. You can find lots of claims on www.****edconsumer.com. Everyone can file his/her feedback on the site to share experience with others.

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