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$75 Checking Account Bonus at a Wachovia Branch in Dallas - Plus Recap on Wachovia News & 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 the 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 203 East FM 544 (972-633-8684)
  • Fund the checking account with a minimum intial deposit of $100 by 12/31/2008
  • 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 June I reported on a similar $75 promo also in Dallas.

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 had 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.

Wachovia still has a $25 refer-a-friend bonus for opening a checking account.

Other Wachovia News & Deals

As reported by Reuters the Feds have given their approval to the takeover of Wachovia by Wells Fargo. Citigroup which was the first to make a deal to acquire Wachovia banking operations backed out last Thursday. Officials have said that the deal remains on track for closing by the end of the year.

For those with Wachovia CDs, the rates and terms should remain unchanged during and after the Wells Fargo acquisition. Wachovia still has some competitive rates on its Featured CDs. The 7-month and 12-month CD rates are listed at their Featured CD Page, but the 24-month and 60-month CDs are not shown. I just called Wachovia this morning and confirmed these for Texas. Note, these rates may vary by zip code.

Term APY (varies by state)
7-month 3.60% to 4.00%
12-month 4.10% to 4.30%
24-month 4.50%
60-month 5.15%

Wachovia CDs with terms of one year or longer have an early withdrawal penalty of 180 days of interest. Terms over 90 days and under one year have a penalty of 90 days interest.

In some states such as Texas and California, Wachovia is still offering 3.75% APY on its High Performance Money Market Account for balances over $10,000.

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).

  Tags: Wachovia Bank, CD rates, checking account

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Comments
5 Comments.
Comment #1 by Saagar (anonymous) posted on
Saagar
If you find an existing wachovia customer, you can make an extra $25.
http://www.wachovia.com/misc/0,,1390,00.html

1
Comment #2 by Mocirne (anonymous) posted on
Mocirne
I'm curious to know if Wells Fargo will not only honor the 5% Way2Save accounts, but also the 5% bonus at the end of the year. The fine print states that the rates can change at any time so I imagine they have complete freedom to simply eradicate all interest/fees at any time. Has anyone heard anything about this?

1
Comment #3 by Mocirne (anonymous) posted on
Mocirne
I meant eradicate all interest/bonuses, not interest/fees. Too much Mountain Dew.

1
Comment #4 by Andy (anonymous) posted on
Andy
I'm an existing Wachovia customer. I'm hoping they keep the Way2Save the same.

1
Comment #5 by larkin (anonymous) posted on
larkin
Looks like the Featured CDs are gone...at least in CA and NJ.

1