Wachovia Refer-a-Friend Bonus Available Till The End Of The Year
With Wachovia's customer referral program, current customers can get paid to bring in new business. You and a friend or family member who is interested in making the switch can both earn a $25 gift card when you them open a Wachovia Free Checking account.
Banks Are Catching the Twitter Bug
Sure, you've heard about Twitter. You've most likely heard about famous celebrities all a-twittering, blogs and websites having their own Twitter following, and you're probably a big fan of Twitter yourself. Practically everyone has jumped on the bandwagon of this year's social networking phenomenon called Twitter. But…banks on Twitter?
A Roundup of the Best Rates for the Week
Despite the big banks' surprisingly solid first quarter performances that were reported over the past week or two, many banks are still struggling to overcome the effects of the economic downturn. In fact, just last Friday April 17th 2009, two more banks went into the receivership of the FDIC. This brings the number of failed banks for the year to a total of 25 – the total number for last year (2008). While the public's growing optimism and hopes of the economy bottoming are all good news, so far it hasn't quite translated yet to an ease in the bank failures that continue to threaten the smaller banks.
A Roundup of the Top Bank Rates for the Week: Plus Other Banking Services Worth Checking Out
With investment rates seemingly headed for rock-bottom, it's always good to know that there are still banks out there that offer rates much higher than the going national average.
Here's the latest recap of the best account alternatives this week based primarily on interest rates and minimum balances that should be deposited or maintained.
The Year That Was 2008: A Rundown of the Major Financial Events That Rocked the Nation
Even with the New Year revelry still ringing in our ears, one can never fully take on the challenges that lie ahead in 2009 without reflecting on the year just gone. Certainly, the year 2008 will go down in history as the start of one of the country’s worst recessions since the Great Depression in the 1940’s. Bankruptcies plagued banks and investment houses, and many industries, most notable of which are the finance and auto industries, were now pinning their hopes of surviving more on the bailouts that the government was handing out like candy, than on the likelihood that the economy would put itself right in the near future.
Savings and Money Market Deals
Bank of America has the "Keep the Change" promotion. You need a checking account, savings account, and check card to participate. This program rounds up your purchase to the nearest dollar and transfers the "change" into your savings account. It also matches 100% of the change for the first 3 months, and 5% after that, up to a total of $250 per year. The check card must not be a rewards card to be eligible for this program. Wachovia, now owned by Wells Fargo, has the Way2Save promotion. Way2Save transfers $1 from your checking account to savings each time you make a purchase with your check card, pay a bill online, or set up automatic debits from your checking account. You can also set up an automatic transfer of up to $100 a month from checking to savings. This is a handy way to save if you have your pay direct deposited into your checking account. The program pays a 5% bonus on your savings for the first year, and a 2% bonus on the amount you add each year for the next two years. The program also pays 5% interest on your savings for the first year, and 2% for the next two years. Compare this to earning 2.75% on their money market account, which requires $1,000 to open.
Holiday Deals
Wachovia donates to Toys 4 Tots each time someone buys a Wachovia Visa Gift Card and also allows people to donate toys or $5 to skate at Wachovia Arena on Dec 1st Discover Card is giving a $20 gift card for each $200 spent in a participating mall. Just save your receipts and bring them to the mall customer service desk. You will be given a $20 gift card, up to a maximum of 5 if you bring $1000 in receipts.
Rising Number of Bank Failures Reflects the Signs of the Times
Perhaps one of the most telling signs of an economy on a downward spiral is the rapid dissolution of its banking industry. For the US, there definitely is a trend that not even the government’s $700 billion bailout package can stop. In fact, the latest news to hit the stands is the rescue package that the government has agreed to release to ailing banking giant Citigroup to the tune of $326 billion, $20 billion in direct investments and $306 billion to guarantee the company’s troubled assets. This crucial deal is one more of the many government moves to support the financial sector, and more importantly, avoid a much-dread collapse of the Citigroup which would further damage investor and consumer confidence in the entire US banking system. The deluge of financial woes on the once largest bank in the US is testament to the reality that even the biggest of them are not immune to the possibility of a bank failure.
Wachovia’s Way2Save Program: Still Going Strong
As it approaches its one-year mark, Wachovia's Way2Save program is still picking up steam. First launched in January 2008, the program had one million members as of September. In October, Wachovia was bought by Wells Fargo, but the Way2Save program is still in full effect. Here’s how it works:
No Respite Seen for US Housing Crisis
Both Homeowners and Lenders Face Uncertain Future -
Prospects for the recovery of the housing market in the near future remain doubtful as concerns over the battered US economy continue to mount, unemployment for more Americans loom, and consumer confidence and spending power is virtually non-existent.
The past few days have seen the persistent decline of the housing industry despite efforts by the government to show its support by way of apportioning bailout money to banks and financial institutions to get credit moving again and to provide means for restructuring home mortgages.
Merrill Lynch, Morgan Stanley Battle Independent Brokerages For Wealthy Investors
U.S. Bank Acquires FBOP Corporation’s 9 Failed Banking Subsidiaries
First Premier Bank Offer Credit Card with 79.9% APR…Wait, What?
Assessing the Impact of the FDIC’s Temporary Liquidity Guarantee Program
FDIC Chairman Shelia Bair on The State of American Banking – Summary and Analysis
ING Direct Black Friday Special: Save ‘Til You Drop
Savers Left With Fewer Options as Hudson City Savings Lowers Top CD Rates
Wells Fargo Settles $1.4 Billion Lawsuit Regarding Auction-Rate Securities
‘Too Big To Fail’ Firms May Be Broken Down To Smaller Size
TD Bank In the Holiday Spirit With Million Dollar Givaway
