Frequently Asked Questions

What do I need to be eligible for Way2Save?
You must have a Wachovia Check Card and any Wachovia Checking Account. The Command Asset program and Small Business Checking accounts are not eligible to be linked to the Way2Save program.

When will I get my bonus?
Within 4 weeks of the anniversary date of when you opened your Way2Save Account, the bonus will be deposited into your Way2Save account.  The bonus offered will be 5% of the eligible balance in your Way2Save account (maximum bonus paid is $300).  For example, your eligible balance is $1,000 on your first year anniversary date.  Take $1,000 x .05 = $50. This is the bonus amount you’ve earned that will be deposited to your Way2Save account for the first year.  For information on how the bonus will be calculated for the second and third years, see the Way2Save Agreement.

Can I take money out of my Way2Save account?
Yes, you can take money out of the Way2Save account at an ATM, doing a transfer through Online Banking, or by visiting a Financial Center and withdrawing funds with a teller.  The Way2Save account is subject to Regulation D.  Federal regulations limit third-party transactions or pre-authorized transfer (including overdraft transfers) or transfers made by personal computer (including Online Banking) or telephone from the customer's account to six per month, no more than three of which may be by draft or debit card.  If this limitation is exceeded on a regular basis, Wachovia is required to close the customer's account and to open another account that permits unlimited check-writing privileges. 

What banking transactions are considered "qualified" that generate the $1 Way2Save transfers from my checking account to my Way2Save account?

• All purchases made by Check Cards linked to the checking account
• Bills paid online, including through Online Banking with BillPay¹ or automatic debits from your checking account.

Will I see $1 transferred for each qualified transaction?
At the end of the posting day, we will total the number of qualified transactions that posted and create a single transfer for the total amount from your checking to your Way2Save account.  For example, if you had three qualified transactions post in one day, you will see a $3 Way2Save transfer from your Wachovia checking that will be posted to your Way2Save account the next business day.

How much can I transfer into to my Way2Save account each month?
You can transfer up to $100 per month into your Way2Save account through a recurring, automatic transfer.  Call 800-WACHOVIA or visit your local Financial Center to set up a transfer. 

Is there a minimum dollar amount required for transactions in order for the $1 transfers to occur?
There is no minimum amount required.  All Check Card purchases, and online bill payments, including through Online Banking with BillPay or automatic debits from checking regardless of the amount will generate the $1 transfer.