Wachovia money market Rates
Wachovia is a Wells Fargo group that offers maximum flexibility for the money deposited. They allow longer periods of deposits and offer a whole lot of features that make banking easy for the customers. These are the reasons why we review the different products of Wachovia Bank. Their features coupled with the competitive Wachovia interest rates make these products a good option for investment.
Wachovia money market rates are 0.02% APY for a deposit of up to $5000. From $5000 to $9999, the Wachovia bank money market rates are 0.05% APY. From $10000 to $24,999, the interest rate is 0.10% APY. For a deposit of $25000 to $49,999, the Wachovia bank money market rates are 0.16% APY. The money market interest rates is 0.20% for a deposit of $50,000 to $99,999.The Wachovia interest rates are 0.30% for deposit of $100000 to 249999 and it is 0.40% APY for any amount over $250000. these Wachovia savings rates are quite competitive in the current market conditions.
Besides these interest rates, there are numerous features that come with it. Wachovia offers free ATM withdrawal for all customers. However, a maintenance fee is charged. Monthly service fee is $10 for those who fail to maintain a minimum balance of $2500. Over draft protection transfer fee is charged at $10. $15 is charged for pre-authorized third party transfer exceeding 6 times. A minimum of $1000 is required as a minimum online deposit and maximum deposit is $75000. These rates are nominal and are levied to cover the additional costs incurred by the bank. Also, all deposits are insured by FDIC and these are some of the reasons for the popularity of Wachovia’s money market account.