Premium Savings
from Wachovia Bank

I feel secure putting my money in to my Wachovia Premium Savings account, but the interest rate could be higher. I am saving for a home, so I do not intend for the money in my account to be there for more than a year, so I decided to just leave it there for the time being. I do like being able to monitor my saving account when I log into my checking account. I never had any problems with the… account and found the customer service representatives very helpful when I needed them for any questions. Also, if you have a checking account, you can sign up for the savings account right on line which is very convenient.
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I just started banking with Wachovia about a year ago and I hasn't been that great. When I opened the savings account, I was told that there was a relatively low minimum. I previously banked with M & T Bank and asked if the required minimum was less than M & T Bank and the associate told me yes. I had no problems at first and then when I moved across country, I started to notice that $5 "Ser…vice Fee" was being taken out of my account. I went to a Wachovia branch to figure out why and they told me that I was under the minimum balance required. Apparently the minimum requirements vary by state. The thing that made me mad was even when I did have over the new minimum balance, they still took out that $5 "Service Fee". Why me?
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I had alot of problems with my Wachovia Premium savings account. The first, and most annoying, was that Wachovia repeatedly failed to send me monthly statements. I talked to a representative at the bank, but the problem was never fixed. The interest rate wasn't anything to be desired either. Also, because I only had a small amount in the bank at a time, I felt that getting money in and out of t…he account to be quite a process. The tellers were also very short and unhelpful, but that is probably just a local problem. I ended up switching over to PNC's virtual wallet.
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Staff

Compared to other free, high-yield savings accounts available (with much higher interest rates), the features on Wachovia's savings accounts are pretty lackluster. The main benefit is integration with Wachovia's checking accounts through their website.

I've had Wachovia's Premium savings for awhile now. I do agree, tying the accounts together is nice, as is the option of online banking to track and pay off bills and such. You can use this account as overdraft protection of any means. The rate jumps up at $10000 it's important to note from .15% to .45%.