Wachovia is having a new-branch special at one of its Dallas area branches in which you can earn $75 for opening a new Free Checking Account. It's not listed at Wachovia's website. It was advertised in today's Dallas Morning News. The ad is available online here.
To receive the $75, you must:
- Open the free checking account at their new financial center at 2912 Legacy Drive, Plano, TX (972-618-0259)
- Fund the checking account with a minimum intial deposit of $100 by 10/1/2008
- Make 10 transacations within the first 60 days. Transactions can include debit card purchases, check transactions, ATM withdrawals, BillPay and ACH debits.
- Limit one offer per household
- Credit in your account will appear within 120 days of account opening
- Value of bonus will be reported to the IRS
Wachovia Checking Account Details
Wachovia's free checking account has the basic components of free checking: no minimum balance requirements, no monthly fees, etc. A reader in the previous post mentioned that Wachovia does a hard credit pull (both Experian and TransUnion have been mentioned). Unless you can get the "at work" checking account, checks are typically not free, but they are optional. Prices vary by state. A reader just mentioned that Wachovia offered 50 duplicate checks for $8. There is a $25 fee if the account is closed before 6 months. In addition to the hard pull, Wachovia also does a ChexSystem verification.
Other Wachovia Deals
I haven't seen any new online Wachovia checking account bonuses lately. They've often had online checking account bonuses for $50. Let me know if you see a new one. Wachovia still does have a $25 refer-a-friend bonus for opening a checking account. This may require you to come into a branch.
If you open a Wachovia checking account, you might also want to open a Way2Save account. By setting up monthly automatic transfers of $100, you should be able to earn about $72 over what you would earn in a 3% savings account in the first year (see my Way2Save review).
Wachovia's Featured CDs - 4.00% 7-Month / 4.25% 12-Month
The latest big Wachovia news is their Featured CDs with some very high rates. I have more details about this promotion in this Sunday post.
In addition to high short-term rates, they also have high long-term rates including a 5.00% APY 36-month CD and a 5.25% APY 60-month CD. The website doesn't show all of these rates. You'll have to call Wachovia to verify the rates in your area. They just recently added the 12-month CD to the website, so now both the 7 and 12-month CDs are shown in the rate table and in the online application.
For those who have Wachovia CDs maturing, don't assume your CD will be rolled into one of these Featured CDs. Most likely it'll be rolled into one of their standard Fixed Rate CDs which all have yields under 2%. But if you call, you should be able to roll it into one of these new Featured CDs. Here's what one commenter mentioned:
I had a 7 month CD maturing this past Monday and I was able to roll it over into another 7 month CD with the new 4.00% APY in Pennsylvania. I am glad I contacted them about this or otherwise the roll over rate would have been 1.16 %.
Wachovia is the fourth largest bank in the US by assets. Their financials can be reviewed at their FDIC page.