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$75 Checking Account Bonus at a Wachovia Branch in Dallas - Plus Recap on Wachovia Deals

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Wachovia Bank
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.
Some of the important small print of this offer includes:
  • 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
This $75 bonus is a common promotion at all new Wachovia branches. In May I reported on one in Houston. One thing that has changed is they've added the 10-transaction requirement. If you have an online bank account that can link to checking accounts, this requirement can easily be met by doing ACH debits.

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.

  Tags: Wachovia Bank, Texas, checking account

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Comments
10 Comments.
Comment #1 by Anonymous posted on
Anonymous
`` While many eyes are focusing on the housing meltdown and its hugely negative effect on an economy clearly moving into recession, few are paying attention to the next bubble expected to burst: credit cards. Combined with the subprime losses, such a credit card nightmare has the potential, experts say, of bringing down the entire financial system and global economy. You and your credit card have become key players in the highly unstable financial crunch. Mortgage lender cupidity and bank credit card greed wedded to financial institution deregulation supported by both political parties, have been made manifestly worse by Bush administration support-the-rich policies. It has brought us to a brink not seen since just before the Great Depression.''

1
Comment #2 by Anonymous posted on
Anonymous
With Wachovia:

Is FREE CHECKING really free if I keep a $0 balance in it and never use it?

The fee schedule is not on the website and there is no Wachovia branch in town except for Manhattan when I am in Queens.

I am interested in the 7 month CD at 4%. However the free checking requirement if its NOT FREE and has a fee attached to it makes no sense.

1
Comment #3 by Anonymous posted on
Anonymous
Use a little common sense.
Even if an account says "no minimum balance" keep at least $1 in it. Or else don't complain if they shut down the account. And make a small transaction once a year or so. For example, deposit $1 in January and withdraw $1 in July.

1
Comment #4 by Anonymous posted on
Anonymous
With HSBC they have an inactivity fee if not used in 6 months.

1
Comment #5 by Anonymous posted on
Anonymous
opened a cd at local branch here in florida..they were so busy with new deposits the computer system was delayed for 5 hrs!!

1
Comment #6 by Anonymous posted on
Anonymous
Had to wait two days at my local Wachovia branch to open a 12-month, 4.25% CD. They were so busy they were only opening new CDs by appointment only.

1
Comment #7 by Anonymous posted on
Anonymous
Just opened a 5Yr CD @5.25 APY at our local branch here in Pennsylvania.

I was asked about, but was not required to open a checking account.

Thanks again Banking Guy for this site anmd alerting us to good CD rates.

1
Comment #8 by Anonymous posted on
Anonymous
I went to the new branch in Plano, TX on Legacy and Independence - actually, rather than get the bonus for the checking account, I wanted to open a CD. This NEW branch had one teller, one person greeting and one person opening accounts. I was told nicely to make an appointment if I wanted to open an account! Don't let me forget, there was one person at lunch and that person, "would not be back for quite some time." Mind you, the one person opening the accounts, had someone in her office and no one else was in the bank....If a bank like Wachovia cannot have enough personnel to open accounts at a new branch, especially when they are running promotions, imagine what the service will be like after the promotion is over!

1
Comment #9 by Anonymous posted on
Anonymous
@ 12:07 p.m.

Go to their branch in Allen, TX (995 W. Bethany Dr., Allen, TX, 75013). They don't get nearly as much traffic as Plano, and you can set up your CD there right away. The Allen bank also happens to be a new branch, so the $75 bonus applies there, too, even though it's not advertised.

1
Comment #10 by Anonymous posted on
Anonymous
n t get to even see a person in nyc grand street broadway office past wednesday its ridiculous

1