The official Wachovia Bank login site is at www.wachovia.com.
Wachovia Bank was one of the largest financial institutions in the United States before the financial crisis in 2008. However, in the midst of the financial crisis, Wachovia’s loan portfolio was found to be too heavy in adjustable rate and subprime mortgages, and confidence in the bank was severely eroded. After Washington Mutual folded on September 26 2008, investors widely expected that Wachovia Bank will be the next major bank to fail, and Wachovia suffered a bank run. Under pressure from the government, the company put itself up for sale, and was purchased by Wells Fargo Bank, after a controversial auction that pitted Wells Fargo against Citibank. With the purchase, deposits and bonds of Wachovia Bank were guaranteed by the more financially sound Wells Fargo, and the bank run ceased. Today, Wachovia exists as a division of Wells Fargo, and continues to serves its large base of depositors, the fourth largest depositor base in the United States.
On the official Wachovia Bank website, you can log into various accounts with the bank. In the log in box on the left hand side of the site, you are presented with 3 options, “Online Banking” to log into your savings accounts, “Online BillPay” to log into your checking account to pay your bills, and “Online Brokerage” to log into your stock brokerage account to trade stocks. In addition, if you are participant in a Retirement Plan which has Ameriprise or Wachovia as the custodian, you can also access your 410(k) or Roth IRA accounts through the same site, through a small link underneath the login box. Lastly, if you have taken out a student loan with Wachovia, you can also access your account with the same link. Given that Wachovia has a large retail banking arm with millions of depositors, the most frequently used option is probably the “Online Banking” option.
With Online Banking at Wachovia, you can view your up-to-date balances on your savings, checking, and money market accounts. Up to 90 days of transactions can also be viewed online, while bank statements for the past 7 years are also available. You can also link any credit card, CD or line of credit accounts with Wachovia to your banking account, allowing you to view all your accounts from the same site, and to transfer money between these accounts instantaneously. Transfers of funds with external financial institutions are also possible, but will take 2-5 days to clear. Free BillPay also comes with the Online Banking account, allowing you to pay your bills online. In addition, you can do a variety of administrative tasks online, including viewing posted checks and re-ordering checks. Online Banking is free for Wachovia customers, although if you want to download the transaction data via Quicken, QuickBooks, or Microsoft Money software, it will cost $5.95 per month. To access Online Banking with Wachovia, go on over to www.wachovia.com and find the Wachovia banking online login page there.