How is the interest calculated for a personal savings account?
What is an automated transfer and how does it work?
What is the minimum amount required to open a personal savings account?
What is the typical financial status of those saving money with CDs?
What type of customers should consider IRAs?
What is the difference between a Money Market account and a Savings account?
Are Money Market accounts FDIC insured?
Do you have an account for people who travel?
Do you offer account statements in Spanish?
How is the interest calculated for a personal savings account?
The interest is compounded daily and credited monthly.
What is an automated transfer and how does it work?
With this savings strategy, you simply authorize a specific dollar amount of $25 or more to be transferred regularly from your checking account to your savings account. This is a free service and an easy way to help your savings grow.
What is the minimum amount required to open a personal savings account?
The minimum amount required to open a personal savings account is $50. No minimum balance is required to open a minor (under age of 18) account.
What is the typical financial status of those saving money with CDs?
CDs typically work well for customers who are homeowners, have investments and/or available cash, and prefer predictable interest earnings and stable principal. CDs are very attractive to people uncomfortable with stock market fluctuations.
What type of customers should consider IRAs?
Anyone who is looking for a diversified portfolio should consider IRAs. IRAs are for anyone planning for retirement. IRA customers often have investments and/or available cash, and they prefer predictable interest earnings and stable principal. They also are uncomfortable with stock market fluctuations.
What is the difference between a Money Market account and a Savings account?
A Money Market account allows you to earn a higher interest rate and at the same time allows you to write up to three (3) checks per month. Savings accounts have a lower interest rate and a lower balance requirement and do not provide the ability to write checks against your balances.
Are Money Market accounts FDIC insured?
Yes, Money Market deposit accounts, not to be confused with Money Market mutual funds, are considered a bank deposit and are therefore insured by the FDIC. Money Market deposit accounts are insured at the same limits as traditional savings or checking accounts.
Do you have an account for people who travel?
You may want to consider one of our Crown Banking packages. Each account includes two no-fee ATM withdrawals at non-Wachovia ATMs.*
*When using an ATM not owned by us, you may be charged a fee by the ATM owner and operator.
Do you offer account statements in Spanish?
Yes. You have the option to receive your personal checking and savings statements in Spanish. To request this service, stop by your local Financial Center or call us at 800-WACHOVIA (800-922-4684), our bilingual representatives are available 24 hours a day, seven days a week.