Highlights:
- 5% yearly bonus for the first year; 2% second and third year
- You can get maxmum bonus at $300 per year
- Posted to your way2save account as interest income; subject to tax
- You can not deposir into it; only way to add fast/more money is to set up auto transfer from checking to it. Monthly limit 100/month, yearly $1,200.
- To maximize your earnings, you need $6,000 to max it out at $300. You can only do $1,200 auto tranfer; you have to make 4,800 qualified transactions using checkcard or online billpay.
- It’s almost impossible to max out earnings at $300.
Official FAQ from Wachovia/WellsFargo:
https://www.wachovia.com/foundation/v/index.jsp?vgnextoid=f1f35105f560b110VgnVCM1000004b0d1872RCRD&vgnextchannel=653efbfaba0aa110VgnVCM1000004b0d1872RCRD&vgnextfmt=default#faqid10