Quote Originally Posted by Nittanys1
when I went to Wachovia last week they were tying to get me to sign up in their new savings account. it has a few dumb things in it but also offers 5% for the first year. I was thinking of doing it but not sure what hidden rules they may have. Like having to keep your money/account open in there for a few years and limits on home much interest you can make....etc...

If anyone could figure it out and let me know what they think about it that would be great.

http://www.wachovia.com/personal/pag..._12660,00.html

Basically every time you make a purchase with your check card, they will transfer $1 from your Wachovia checking account to your Wachovia savings account. At the end of the year, they will take this total number of dollars transfered and give you a five percent bonus on that money. So lets say you make 100 purchases with your check card throughout the year, that equals $100 transfered into your savings from your checking. A five percent bonus would be $5. Then the following years that bonus drops to 2%.

I guess it's kinda helpful if you don't trust going the online savings route, but it's really not as good as it sounds. Unless I guess if you use your check card 10,000+ times per year, then maybe.