Quote:
Originally Posted by qnguyen010
my only concern is that since i wont be putting much money into the online savings account at a time, would it be a waste since i have to pay a transfer fee to get funds from my wachovia checking account to the online account?
|
You do not have to pay a transfer fee.
I have a relative who has a Wachovia checking and we set him up with an online savings account about a year ago. Once you link the accounts (typically done when you apply and are approved for the savings account) then you can transfer money in and out without any charges.
[The only caveat being that, per federal regulations, you can only withdraw/transfer-out money from your savings six times per month. This does not apply to deposit/transfer-in transactions.]
more