Originally Posted by Dr.Boost

So if the $1 isn't there, they don't transfer it? If I don't have at least $25 in my account on the 15th of the month they will transfer it and charge my checking account an overage fee.

Originally Posted by cbirchmore

All of that is correct. The transfer to the savings for the $1 is something that WE do.. The $25 is something that (at some point in time) you have established, whether it be to get an account for free or to save $$$. So, the $25 is YOUR FAULT if the $$$ isn't there, but the bank isn't stupid enough to make itself mess up

Originally Posted by cbirchmore

That's probably to avoid any monthly fees on the savings account. That's the thing, w/ Wachovia, we still give you the ability to Xfer it back to checking, BUT we're paying you a 5.00% APY on the funds you leave in there. This isn't an ordinary savings account, as you can only Xfer $100 per month into the account, aside from debit card and auto debit transactions. BUT, if you make 50 transactions per month, and Xfer $100 in, in a 12 month time frame, you've saved $1800, plus you've been earning a fairly high interest on those funds for that time. The way I look at it, I just opened my account w/ that service (as it's brand new) and I'm calculating what I will have to spend for Christmas..