Wachovia Bank has instituted a new savings program. Every time you make a transaction (debit card purchase or online bill pay), $1 is transferred from your checking account into your Way2Save savings account. It’s definitely a painless way to save but I imagine it would make balancing your checkbook a little bit more difficult.

What’s nice about this program is that Wachovia will give you an annual bonus for the first three years your account is open. The first year, you get a 5% bonus. The second and third years, you get a 2% bonus. The bonus is limited to $300 in any given year though.

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