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Wachovia Checking Account Bonuses, News, CDs and Other Deals

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Wachovia is still offering $75 bonuses for opening a new checking account at several of its new branches around the country. These are not listed at Wachovia's website, but they're often advertised in newspapers. They've recently been advertised in Daytona Beach Florida, San Francisco and Southern California. These links point to the online ads for these promotions. Here are the addresses of these new financial centers:
  • 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 2/15/09 extended to 4/09/09)
  • Moreno Valley: 27060 Fir Avenue, 951-488-9927 (expires 3/15/09)
A reader also commented that a new branch in San Mateo, California has this same promotion. In October, I had reported on this promotion for a new Wachovia Dallas branch. This may still be available.

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.
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
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'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%.

Way2Save Account

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.

  Tags: California, Wells Fargo Bank, Wachovia Bank, CD rates, checking account, Florida

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Comments
2 Comments.
Comment #1 by Anonymous posted on
Anonymous
I opened a 1 year CD account at 4.25% at Wachovia a few months ago. The online application process was easy. However, I was annoyed about the acknowledgment of the account opening from the company. I never received anything in the mail and had to keep emailing someone in their online department until I got a reply (I finally got an account number after about 2 months after opening the account). They, of course, cashed my deposit check around a week after I mailed it. This was before the purchase news with Wells Fargo. I had to sign up for online access in order to get a summary of my account information. I guess they mainly are targeting customers who come into a branch office and are not that concerned with online customers. I live close to a branch office, so I could have gone there to open my account instead.

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Comment #2 by Anonymous posted on
Anonymous
I went into the new branch on 4th Street in San Mateo today. It was really dead there; the tellers were happy to see anybody doing anything.

They are still offering the $75 bonus at this location. I did not get an end date, but I'd presume its the same as the San Francisco location in the post.

I was also told that a new location would be opening soon in Burlingame. It will have the same $75 offer.

1