CycloneFW said:I am confused on this part. In Keep the Change, doesn't that $0.99 come from your own checking acct?
BoA KTC: 100%-match first 90 days

CycloneFW said:SUCKISSTAPLES said:This is worse than BofA since you could do 1.01 transactions and make 99 cents.

I am confused on this part. In Keep the Change, doesn't that $0.99 come from your own checking acct? If that is the case, then BoA's would be worse as the maximum you could xfer would be $0.99. Wachovia's would always be $1.

Now, if you meant something about the bank contributing, please elaborate (or point me to the right thread).
as others noted above, BofA contributes in the KTC program for the first 90 days, so for debti card use that program is far superior.

This program still has merit for the extra $300 possible as I noted above/

So this is basically an over-glorified 5% 12 month cd on a max balance of 1.2k? (if you open all 5 checking/saving stuff it becomes 6k)

We were told by our rep @ Wachovia that each joint checking account would allow each joint holder to open a Way to Save Savings account. Times 5. And, each custodian account would allow the same. So, with 10 joint checking accounts (assuming custodian accounts or joint accounts for three people) = max of 15 Way to Save accounts, and $300 bonus per Way to Save. Yields $900 bonus and 5% on the $18k buildup. Still waiting to hear on trust account handling.

CycloneFW said:SUCKISSTAPLES said:This is worse than BofA since you could do 1.01 transactions and make 99 cents.

I am confused on this part. In Keep the Change, doesn't that $0.99 come from your own checking acct? If that is the case, then BoA's would be worse as the maximum you could xfer would be $0.99. Wachovia's would always be $1.

Now, if you meant something about the bank contributing, please elaborate (or point me to the right thread).

I realize that this may not make me rich, but it is something I can easily contribute and does not require any additional work on my part (bill pays and auto-debits, I rarely use my debit card).

Yep, no brainer for me, already do it all with my Wachovia checking account.

gwu1986 said:We were told by our rep @ Wachovia that each joint checking account would allow each joint holder to open a Way to Save Savings account. Times 5. And, each custodian account would allow the same. So, with 10 joint checking accounts (assuming custodian accounts or joint accounts for three people) = max of 15 Way to Save accounts, and $300 bonus per Way to Save. Yields $900 bonus and 5% on the $18k buildup. Still waiting to hear on trust account handling.Correction: CSR was wrong. Only one person can connect a way2save to a joint account. Also, only one person can connect a way2save to a personal trust account. So 10 joint/trust checking accounts would be needed for 10 way to save accounts for two people.

FYI: Online billpay doesn't count. Rep says billpay only counts if you pay w/ check card.
Also if you don't use your check card and only do auto transfers every month, they might convert the account to a premium checking account. This is per the rep. not my words.
After reading the T&C, this is within their rights.
This account is for the purpose of getting people to use their check cards. That's the gist of it.

The three month soft rule coincides exactly with the minimum ($300) to avoid fees on their premium savings account. Maybe they're hoping people don't notice the drop from 5% to 0.10%.

craig10x said:Actually....looks like a big nothing....all you get is 5% on each of your own dollars that they automatically transfer to savings....and it doesn't say anything about the RATE of the Savings Account being 5%...just the bonus on the dollars that
get transferred (on the first page of this thread, it says that the Savings Account in this set-up pays 5%)......

At least BOA gives you a 100% match for the first three months, this doesn't even do that....

So what is really so outstanding about it????? Actually, footnote 3 states the 5% APY. BUT it also says the savings rate is variable and subject to change.

kloide said:gwu1986 said:craig10x said:Actually....looks like a big nothing....all you get is 5% on each of your own dollars that they automatically transfer to savings....and it doesn't say anything about the RATE of the Savings Account being 5%...just the bonus on the dollars that
get transferred (on the first page of this thread, it says that the Savings Account in this set-up pays 5%)......

At least BOA gives you a 100% match for the first three months, this doesn't even do that....

So what is really so outstanding about it????? Actually, footnote 3 states the 5% APY. BUT it also says the savings rate is variable and subject to change.
How is that different from any other savings account with a variable rate?

Called CS, they said rate is 5% and bonus rate is 5% at end of the year. Not sure why this is so hard to grasp.Not hard to grasp at all. But I, for one, did not know this was a variable rate account. I was under the impression this was a fixed 5% apy rate for year one.