Last week week I signed up for Wachovia’s Way2 Save program to try and stow away some money at a higher rate than ING Direct. I can save some money at 5% APY and receive a bonus from the bank on my anniversary day. It’s been saving mode here at home and I want to sock away as much as possible. My temporary job is over and we managed to deposit $1,650 away in our joint savings.
We’re proud of it, but we’re hoping to build it up more by year’s end.
What are the Way2Save?
There are three ways to get money into my Way2Save account:
- Use my Wachovia Check Card for purchases
- Use Wachovia’s Online Bill Pay
- Make automatic payments
Wachovia moves $1 from your checking to your savings whenever you use the bill payment service and use the debit card. You can also set up an automatic monthly deposit up to $100.
Since I use online bill pay, I thought this would be an easy way for me to deposit money into the account. If I set up some automatic transfers that would help build up the emergency fund savings just a little bit more.
What’s a Good Way2Save?
Of course, I’m just as I’m feeling good about joining this program, I catch a tweet from Consumerist today about Wachovia’s program. Someone used the basic rules to see if they could deposit more by sending several small payments. Instead it backfired and she ended up with $5,000 to pay.
Well, I’m not going to focus on using bill pay for deposits. I’ll stick with automatic deposits.
Photo Credit: Neubie
Related Posts -
Online Banks: Real People's Thoughts We had a bad experience with Bank of America for our joint account, so my husband and I decided to switch banks. We first look at the banks where we hold our individual accounts. He uses Wachovia and I use a local credit union. We first look at the...... -
May 2008: Progress Update Photo Credit: ivanx A new month means an update of the progress we've made on my goals so far this year. I'm hoping that by sharing it, it holds me accountable. Let me first review my goals for this year: Income: I would like to earn $37,000 for the......
Here are Some Other Great Thoughts - Green Home Building - The Key to Saving Money on Your Home's Operation The environment is precious. Keeping it pure and respecting the future makes sense. But what about your pocketbook? Does it cost more or save more when it comes to our homes? I get asked about green building all the time.Question: Does building a "green home" really save on energy......
-
Why Everyone Should Have An Online Savings Account Despite their continued growth in popularity there are still many people who do not have an online savings account. Some people are simply unaware of the benefits while others are not yet ready to venture from their local branch. Be that as it may, online savings accounts are something that......
{ 1 trackback }
{ 0 comments… add one now }