Crown Classic Checking
from Wachovia Bank
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We’re calculating what the card could cost you while you have it. We’ve taken your personal information, the card details, and average spending data to get to this value. If the costs are greater than the rewards, you should look for a card with the lowest cost.
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Crown Classic Banking is the premier package for people 50 years or over. Benefits include a free standard-size safe deposit box, free single signature traveler’s checks, domestic incoming wires, free Crown checks and all the benefits of a free checking account. Interest compounds on this account daily, and you’ll receive a savings or money market account with no monthly service fee.
Crown Classic Checking Reviews
The Crown Classic checking account, for "seniors" (over age 50), has an average balance minimum requirement of $1000. (Service fee is $20 if your average falls below $1000.) That's a pretty low requirement, and it had not caught me for several years - until last month. The Crown checking account has a much higher average balance requirement. ($20 is the service fee here also.) Benefits …are identical.
But the Crown account can actually be a better deal for a senior. If you have a Wachovia Visa card, and it has a credit limit of $10,000, that will waive the monthly service fee on a Crown account. Oddly, a Wachovia Visa card will NOT waive the fee on a Crown Classic account.
We seniors always have to navigate carefully - some Gen X-ers think we're soft in the head.
There are other relationship accounts that could waive the $20 monthly fee - for example, IRA accounts, CDs, and such like.
But for those of us who are not going to put our wealth into low-return accounts, the Wachovia Visa account is the way to guarantee you won't incur a monthly fee due to a low average balance in your Crown checking account.
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