Wachovia Way2Save Savings Account 5.00% APY

Wachovia Bank has a unique savings account called “Way2Save”. What makes this savings account unique is that it is linked to your Wachovia checking account and for each qualified transactions you do $1.00 is deposited into your savings account. 

Qualified transactions include all check card purchases and bills paid online. You can also have a recurring monthly transfer up to $100 per month from your checking account to your savings account.

The savings account also has a bonus promotion. Within 4 weeks after the first anniversary of having your Way2Save account, a 5% bonus will be deposited into your account. The bonus has a maximum limit of $300. For example, if your eligible balance at the end of the first year is $6,000 you will receive a $300 bonus. For the 2nd and 3rd year anniversaries the promo bonus is 2%. Up to $300 per year.

The account also has one of the best savings rate, the first year annual percentage yield is 5.00%. Though the apy for the 2nd and 3rd years is only 2.00%.

Wachovia Bank Way2Save Savings Account Application