Wells Fargo Home Loans

The Wells Fargo Home Loans is designed to help you with the all important purchase of your new dwelling. This is why not only are loans available from Wells Fargo but there are also many articles on advice on just what a new home owners needs to know before they make this all important investment.

A home is generally the largest and most expensive investment a person will make in their life time. Getting all the variable correct is important so you can acquire the home you need for the price you can afford. The categories of information provided by Wells Fargo include how to achieve your goals, tools and calculators to help you find the right loan at the right time of year.

There is also another helpful section on how Wells Fargo can help you with your new home purchase or assist those that are in financial trouble and own a home already.

The Wells Fargo Online Banking also has the latest rates. As of May 12, 2011 the 30 year fixed rate has an interest rate of 4.625% and an APR of 4.812%. The 30 year FHA has an interest rate of 4.375% and an APR of 5.385%.

The 15 year fixed rate loan has an interest rate of 3.750% and an APR of 4.069%. The 5 year ARM has an interest rate of 3.000% with an APR of 3.170%. The 5 year ARM FHA has an interest rate of 3.250% and an APR of 3.311%.

The Wells Fargo Home Loan Workbench is the tool they provide for free to help you in determining the right loan that will fit your financial situation.

All you need in assistance with a Wells Fargo Home Loan is available free of charge. Once your decision is made, then these financial professionals can assist you in acquiring the loan that best suits your needs and abilities to pay.

Wells Fargo Discontinues Wachovia Free Checking

Wells Fargo discontinues Wachovia Free Checking as one of the changes for 2011. On February 5, 2011, the few remaining Wachovia Banks will stop offering free checking accounts for their customers. The new checking accounts that will be offered are the Value checking accounts. Until that time, the free checking accounts will continue to be offered at the branch offices and online from Wachovia Bank.

There are several differences between the two types of accounts. The opening balance for both is $100 and the non-ATM withdrawal fees will remain at $2.50, but all other fees and charges will be different.  The new monthly service fee will be $5.00. To avoid this fee, a minimum balance of $1,500 must be maintained in the account.

There must also be a direct deposit once a month of $250 or greater to avoid the maintenance fee. The overdraft fee has been increased from $22 to $25 per occurrence. The charge for an outgoing domestic wire transfer is decreased from $25 to $20.

The parent company is Wells Fargo, who did away with their free checking accounts in the summer of 2010. Many of the Wachovia branch offices were converted to Wells Fargo branches, but not all of them. They operate as a separate branch of banking to take advantage of the strong customer demand for this brand name.

Access to your checking accounts will still be available at the Wachovia Online Banking websites during this period of change.

If you wish to have a free checking account, Ally Bank and ING Direct Bank are still offering free checking accounts at this time. But the other major financial institutions including Chase, Bank of America, and Citibank have done away with them, along with Wells Fargo, in a move to increase their profit margin.

As of February 5, 2011, Wells Fargo discontinues Wachovia Free Checking for the foreseeable future.

Wachovia Rewards

Now that Wachovia is becoming part of Wells Fargo, we here at Online Banking 411 wanted to give you the 411 on the updates being made to Wachovia checking accounts.  Specifically the addition of Wells Fargo Rewards for checking account customers in the form of the Wachovia Rewards Program.

The Wells Fargo Rewards program has been added to and is being offered to Wachovia checking account holders.  It is tied to the check card on your account, with Wachovia Rewards being given every time you make a purchase.

Wachovia Rewards can be redeemed for cash, gift certificates, travel, merchandise, and more – the cheapest rewards are cashed in at 650 points and go up from there.

You earn one point for every $4 spent as part of the Wachovia Rewards Program.  Since you’re already probably using your check card to make everyday purchases anyway, this is kind of a bonus.  Anytime you make a purchase using “credit” (not “debit”), you earn points.  Including bill payments and more.

So if you spend $600 a month in groceries, $60 on coffee, $400 on gasoline or auto expenses, $200 in utility bills, $200 for entertainment, and a few other things, you could earn 6,300 points per year (525/month).  That’s enough for a $50 gift card.

Doesn’t sound like much, but that’s fifty bucks you didn’t have before – all for doing things you spend money on anyway.

It’s a pretty good system from the Wachovia Rewards Program and you can earn even more by purchasing through the Earn More Mall at Wachovia/Wells Fargo.  If you’re already a Wachovia customer, it’s worth looking into.

Wachovia FHA Mortgage Rates

Today at Online Banking 411, we’re looking at mortgages again.  Specifically FHA loans. Of course, in the 2008 banking crisis, Wachovia was absorbed by Wells Fargo and while some operations continue to run separately, others such as mortgage loans were moved to the Wells Fargo family.

Right now, mortgage rates at Wachovia are staying relatively low and in line with national averages.  A 30-year fixed loan is at 4.375% interest (4.559% APR) while a Wachovia FHA mortgage is 4.50% interest (5.223% APR).

Similarly, the FHA premium is relatively low for adjustable rate mortgages as well.  A 5-year ARM at 3.00% interest (3.170% APR) is the same (3.00% interest or 2.959% APR) for its FHA brother.

For larger amount loans, or loans that are outside of the usual market rates in an area, the rates are a little higher.  A 30-year fixed Wachovia mortgage rates offer is at 4.50% interest (4.634% APR) while the same in a Wachovia FHA mortgage is 4.75% interest (5.442% APR).  There are no Jumbo offers for Wachovia mortgage rates with FHA.

Refinance rates are also relatively low, but few qualify for a Wachovia FHA mortgage in this case.

Of course, your decision to purchase or refinance a home through Wachovia mortgage rates is up to you and your financial adviser.  Home purchasing is a big step for most people and mortgage rates at Wachovia may be able to help.  Be sure to research thoroughly before choosing a loan program.

Wachovia Rewards

As most readers of Wachovia Online Banking are aware, Wachovia was bought out by Wells Fargo and has been slowly being integrated into the new bank.  Checking and savings accounts have now been moved to Wells Fargo, so those who had a Wachovia Rewards debit card should have received information on the Wells Fargo Rewards program, which is similar.

As with the rewards at Wachovia, the new Wells Fargo Rewards program offers points based on purchases with your debit card.  These rewards can be redeemed for cash, gift certificates, travel, merchandise, and more.  As an example of how this works, $600 a month in grocery purchases could mean 150 rewards points monthly or 1,800 points per year.  $400 a month in gasoline is 1,200 points per year.  A total of 525 points monthly is enough to get a $50 certificate at the end of the year.

The Wells Fargo Rewards program is not quite as good as the Wachovia Rewards it replaced, but many who had rewards at Wachovia are happy with the offer regardless.  There was no reason for Wells Fargo to continue the program once they had integrated Wachovia.

Recently, there was a scandal as computer errors at Wells Fargo, during the changeover, caused thousands of emails indicating Wachovia Rewards points had been redeemed for merchandise and that back orders were underway.  This caused many to believe that a scam was brewing involving rewards at Wachovia.

This was cleared up quickly, though rumors persist, as Wells Fargo let customers know that the glitch did not affect accounts, only the email system, and all Wachovia Rewards had been transferred to Wells Fargo Rewards without loss.

Wachovia Account Access

Here at Online Banking 411, we thought that another look at how Wachovia account access is working and the slow move to merge with Wells Fargo is going.  This is now a Wells Fargo company and some of the pages have changed some. For example, when going to official page above, you will be automatically redirected to the new Wachovia account access page for acct sign in. No matter, it is safe, easy and fast to get into your online banking with and manage all of your accounts.

With Wachovia Bank online you can enjoy the freedom of good online account access. Get free access to online banking with bill pay, anytime and where ever you are located.  This is a very large bank and financial institution that can handle and provide all of your financial internet bank needs, even with the merger with Wells Fargo.

With Wachovia Bank online, accounts can be managed, tracked and balanced anytime, from anywhere. You can manage your investing and brokerage acct online as well. You can also do your retirement planning, personal finance,  certificates of deposit, checking accounts, savings, loans, personal loans, mortgages, home equity, etc. Wachovia Bank online is a full service internet and traditional brick and mortar bank.

Wachovia and Wells Fargo are both FDIC insured.

Wachovia Foreign ATM Fees

Here at Online Banking 411, we know that summer time is vacation time and many of you will be going overseas for vacation.  This raises questions about foreign ATM use and what the rules are and what Wachovia foreign ATM fees are like.

Many people are under the impression that fraud security systems will automatically deny foreign ATM use as a security concern.  This isn’t actually the case, but it is a red flag that fraud systems will use to rate a transaction’s chances of being questionable.  The best way to mitigate this chance of being stranded with no cash is to tell your local bank manager or Wachovia’s customer service hotline that you’ll be traveling.  This will remove the foreign ATM use flag from your account and keep you in the good.

Wachovia foreign ATM fees are another thing to consider.  While any Wachovia branch ATM is free to use (as are Wells Fargo, which now owns Wachovia), there are still foreign transaction fees associated with ATM fees at Wachovia.  So if you’re using an ATM overseas, expect to pay the exchange rate fees for your withdrawals, even if the machine is a Wachovia or Wells Fargo one.

These Wachovia foreign ATM fees are currently 3% of the transaction.  This could change, of course, so you’ll want to talk to your bank first, but the ATM fees at Wachovia haven’t changed in nearly a year.

So while traveling this year, make sure to stay safe, let your bank know you’ll be overseas, and to be mindful of ATM fees at Wachovia with foreign ATM use.

Wachovia Overdraft Fees Updated

Here at Online Banking 411, we know that sometimes, miscalculations happen and overdrafts occur.  So you need to know how your Wachovia overdraft fees will affect your account.

Wachovia is a major financial institution that offers a number of financial services. It now operates as a fully owned subsidiary of Wells Fargo. Wachovia overdraft fees issues are a source of major concern for people who have opened credit accounts in the bank but are facing problems. They do not want to face any untoward situation in a restaurant or shopping mall when they realize that they are unable to make payment with their credit cards. They need additional protection and it comes with the overdraft plans offered by the company.

The first step towards securing overdraft protection at Wachovia is the linking of credit account with the checking account. Customers can easily. This policy enables the customers to transfer money from other accounts to their checking accounts and thus avoiding any embarrassing situation. Wachovia fees for this procedure are charged only for the first time and there will be on subsequent deductions.

Wachovia overdraft service has helps the customers in overcoming their debit card troubles. The company now offers many advanced solutions that customers can use to avoid any bad situation. Mobile balance check facility is available to keep them from overspending. There are other features available on the company website that they can use to avoid overdraft. Even if they have to use this facility, there are relaxed payment plans and flexible options. They can simply concentrate on their shopping or dining without worrying about the payments.

Wachovia Overdraft Protection Explained

One of the worst fears of most customers is the time when their debit card transactions are declined. It can be a source of great humiliation in case you are with your friends or romantic interests. You may have sound financial stability but this will create a bad impression among your friends and loved ones. You can easily avoid this situation by using a number of services. Wachovia overdraft protection remains the best way of avoiding this untoward situation.

The first step towards securing overdraft protection at Wachovia is to link your savings or credit account to your checking account. This will enable you to transfer money from other accounts to your checking account and you can avoid any bad situation. A single Overdraft Protection transfer fee will be assessed and there will be no extra charges.

Wachovia overdraft service has meager fees and charges and will help you in overcoming your debit card troubles. You can also use the online and mobile banking tools to avoid any transaction when your debit card has run out of money. This way you will be able to avoid making any transaction when you do not have money. You can also continue checking your balance if you want to avoid overdraft fees. You can also keep records of your transactions so that you have ample information about the money that you have spent and the money that is remaining in your account.

Wachovia Bank Complaints

Charlotte, North Carolina-based Wachovia Bank is a major financial institution in the United States and has remained so for many decades. It has hundreds of billions of dollars in assets and has recently been acquired by Wells Fargo and now functions as a fully-owned subsidiary of the company. There were some financial problems faced by the company and regulatory issues that resulted in its acquisition by Wells Fargo. Although the company has become a subsidiary of another financial giant, some of its customers are not happy with its performance. Wachovia Bank complaints have remained constant over the years with some increases in recent months as customers are confused about the changed ownership and are facing some delays.

Complaints about Wachovia are also related to the charging of extra money in bank fees and other overheads. As the bank has made a transition to following Wells Fargo’s rates, customers are confused about paying extra money. Others have issues with overdrafts, international service fees and double billing, among other things.

Wachovia complaints about charging of extra money in bank fees and other issues can be discussed with the bank staff either on the phone or through the online chatting feature. Customers can contact the bank and discuss with bank representatives about the problems they are facing. They can also use the official procedures to launch complaint in case they feel that they have been overcharged. They will have to pursue their case to rectify any overcharging or overdraft issues.