"We want to inspire people to take the Challenge and start saving—regardless of their income level or financial situation—and have some fun in the process," said Kathryn Black, Wachovia savings director. "Our Challenge tour and our Way2Save program are both about helping people see that saving can be fun, easy and automatic and motivating them to take action and start saving today."
The Way2Save Challenge gives participants the chance to grab flying dollars and have some fun on a stage stacked three stories high with eight glass "money" machines. The free, public events will provide an interactive, entertaining and educational experience designed to show consumers how easy it is to start saving and allow them to unwind in the Relax and Save area, where guests will receive shoulder massages and learn how to find peace of mind in their financial lives. Wachovia employees will also be available to discuss Wachovia's products and services with customers. Prizes, games and giveaways make this a fun event for everyone, and five lucky participants will win $2,000 each.
Mario Lopez will sign autographs and pose for fan photos from 11 a.m. to 12:30 p.m. PT. KIIS-FM radio's Manny Guevara from Manny on the Streets will broadcast live on 102.7 FM from Hollywood & Highland 12 noon to 2 p.m.
Wachovia will award $10,000 in cash—giving away $2,000 to each of the five contestants from the 11-city Way2Save Challenge Tour. The top eight winners from the tour will qualify to fly to New York City to participate in the grand finale of the Way2Save Challenge the week of May 15, 2008.
At a Glance, The Way2Save Challenge Tour
The Way2Save Challenge will tour 11 locations across the U.S. including:
February 28
March 7*
March 15*
March 27*
April 3*
April 10*
April 17*
April 26-27
May 2*
May 8*
May 15* | | San Francisco
Texas
Texas
Charlotte
Atlanta
Tampa
Ft. Lauderdale
Birmingham/Talladega
Washington, DC
Philadelphia
Grand Finale – New York City |
*The Way2Save Challenge Tour will be in each location during the week of dates listed, exact event dates are being finalized. No purchase necessary. Must be legal resident of 50 United States and District of Columbia 18+ years. Ends 05/10/08. Void where prohibited. For Official Rules visit www.wachovia.com/way2savetour. Wachovia Bank, N.A. and Wachovia Bank of Delaware are Members FDIC.
Background on Way2Save
Way2Save is Wachovia's automatic savings program that helps consumers save money by transferring $1 from their checking account into a special savings account each time customers make purchases with their Check Cards or make payments electronically. Wachovia created Way2Save to give consumers an automatic and disciplined way to save. Customers are encouraged to save with an attractive yield and a bonus for the first three years depending on how much they save—up to $300 per year.
Way2Save offers three ways to save:
- For each Check Card purchase, $1 is transferred from the customer's checking account to the customer's Way2Save savings account.
- For each online bill payment or automatic debit from checking, $1 is transferred from the customer's checking account to the customer's Way2Save savings account.1
- Optional recurring, automatic transfer of up to $100 per month from the customer's checking account to the customer's Way2Save savings account.
Way2Save offers a special Annual Percentage Yield2 (APY) for the first three years of the program:
- In year 1, customers earn 5.00 percent APY on their accumulated savings.
- In years 2 and 3, customers earn 2.00 percent APY.
Way2Save encourages customers to keep saving their money by offering annual bonuses for the first three years. Customers enrolled in the program earn a 5 percent annual bonus in year one, up to $300, and a 2 percent annual bonus in years two and three, up to $300.3
1 Excludes online payments that post to the checking account as paper checks.
2 This is a variable rate account and the rate is subject to change after account opening. Fees may reduce earnings.
3 Bonuses are calculated on an annual basis for the first three years on eligible balances. The eligible balance is equal to the savings contributions for the current year (i.e., the sum of the $1 transfers and up to $1,200 of the recurring transfers) or the Way2Save account balance, whichever is less.
For more information about the Way2Save program, the savings crisis in America, and media file downloads, visit www.wachovia.com/Way2Savemedia.
Satellite Coordinates
A satellite feed of the first event in Los Angeles will be available at 4 p.m. ET. The satellite coordinates are as follows:
Galaxy 26 (KU)/17 Slot B
FEC: 3/4
Symbol Rate: 6.113
Downlink Freq: 12,044.50 Vertical
2 Channel Audio
Bandwith: 9 Mhz
About Wachovia Corporation
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $782.9 billion and market capitalization of $75.3 billion at December 31, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $1.2 trillion in client assets through 17,900 registered representatives in 1,500 offices nationwide. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.
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