Wachovia customers must to the following 10 things to protect themselves

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Posted by Jim on Sep 29, 2008 54 views

As a Wachovia customer you must to the following 10 things to protect themselves today and going forward.

Be informed - your bank, CD’s, loans, credit cards and mortgages may all be changing. Read up on the market and know what is happening
Don’t Panic - it’s not just a line from the Hitchhikers Guide to the Galaxy, its a good rule. Don’t panic, stay calm and make smart decisions
Don’t clear out your accounts - stay clam and find out what accounts you have, pay attenion to any changes, and check your account balances and statements
Don’t throw away your statements - if you bank online, go and print out the past 3 months statements and keep them from this point forward.
Don’t loose your FDIC insurance protection - check all your balances and watch your cash amounts in the new combined organization.
Do know what the FDIC is - Savings, checking and other deposit accounts, when combined, are generally insured to $100,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. Also, the FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) and Keoghs, insured up to $250,000.
Do watch your mortgage terms - Read them now and start watching the market if you have an adjustable rate loan. But you should have been doing this all along. But do it now and check it often.
Do keep your mortgage and your accounts separate - If your checking or savings accounts is now where your mortgage is, move them. Banks have the right to collect funds from any of your accounts. Don’t let a late mortgage payment cause you to bounce all of your other checks and bills.
Find a new bank - now is the time to look around and get an account with another bank. Check for deals on referring a friend, Saturday and Sunday hours, ATM fees, and electronic banking such as with Microsoft Money
Do check into your safe deposit box. Get the key, find the access codes, and make a visit to the bank to check it out. With new changes that free box may suddenly start costing you a monthly fee. Know whats in there in case Debbie looses her job in the reorder and the new person hits you with a huge fee to replace that lost key for an empty box Debbie gave you for free 7 years ago that you never use.