- Daytona Beach: Palm Coast Town Center, 836 Belle Terre Parkway 386-437-3306 (expires 2/15/09)
- San Francisco: Market and Kearny, 690 Market Street, 415-986-7275 (expires
2/15/09extended to 4/09/09)
- Moreno Valley: 27060 Fir Avenue, 951-488-9927 (expires 3/15/09)
To receive the $75, you must:
- Open the free checking account at their new financial center
- Fund the checking account with a minimum intial deposit of $100
- 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'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's $25 Refer-A-Friend Bonus
Wachovia still has a $25 refer-a-friend bonus for opening a checking account. They'll send a $25 Wachovia Visa Gift Card to both the referrer and the referee. If you want one, email me your first and last name to bankdeals at gmail dot com, and I'll send you one. Wachovia now allows this to be done online similar to ING Direct.
Wachovia Certificates of Deposit
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. However, they've gone down quite a bit in the last month. The 7-month and 12-month CD rates are listed at their Featured CD Page. However, the longer term ones are not listed. Based on my conversation with a Wachovia CSR yesterday, they now only have one long-term Feature CD, the 60-month term. The current APY is 4.50% for Texas (it may vary by your zip code). This 5-year CD APY had been 5.15%.
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).
Other Wachovia News
Wells Fargo's planned acquisition of Wachovia appears to be costing Wells Fargo more than they may have expected. It was recently reported that Wells Fargo intends to take a $40 billion charge in the fourth quarter for the Wachovia purchase. According to this Reuters article Wachovia shareholders are set to vote on the merger on December 23.
Thanks to the reader who mentioned these new-branch bonuses in the comments.