Wachovia is one of the stronger financial institutions in the country today and its strength is further increased after its merger with Wells Fargo Bank. Together, these banks service a large client base offering numerous products and services for their convenience.

Their high interest savings accounts are popular because of the convenient features that come with it. There are three kinds of savings account offered by this bank and they are Wells Fargo Way2Save savings, Wells Fargo money market savings and Wells Fargo high yield savings accounts. Each of these accounts come with good interest rates and access to online and mobile banking.

The minimum amount required to a Way2Save savings account is $100 or $25 when an automatic option is set up from a qualified checking account. For the Wells Fargo high yield savings, the minimum amount required to open an account is $25,000. The high yield account has a monthly maintenance fee of $25 when the minimum balance of $25,000 is not maintained. For the Way2Save savings account, the monthly service fee id $5 and this is waived when a minimum balance of $300 is maintained or an automatic transfer is set-up.

The Wachovia Bank savings account rates are 0.05% APY for all balances for the Way2Save savings account. The Wachovia Bank savings rates are 0.05% APY for a balance of less than $25,000 and 0.20% APY for a balance of $25,000 or more. The savings account rates at Wachovia Bank is slightly higher for customers who have linked their savings account with a PMA Prime Checking account or PMA premier checking account. In this case, the savings rates are 0.15% APY for a balance of less than $25,000 and 0.30% APY for a balance of $25,000 or more.