Which bank offers the best money market or savings account, Bank of America or Wachovia?

I really need to start saving some money!! I'm living from check to check with nothing left over to save! What am I to do?
Which bank offers the best money market or savings account, Bank of America or Wachovia?
Wachovia did not go technically "belly up" like Wamu did. They were purchased by another company.





You should go to both of their websites and check the money market rates. However, check the fees also because generally, money markets have a minimum balance requirement to avoid fees. If you're trying to save money, the last thing you want is to pay any kind of fee. Check with your own bank about a savings account where you can start setting aside money and building a balance. I believe for you, a money market is not a good idea right now.





If you don't have a bank, check with a local credit union to see if you are eligible to join. Set up a checking account and have your paycheck directly deposited. Then, set up an automatic transfer to a savings account to happen the day after your paycheck is delivered for $10 or $20. Do not touch this savings account, no matter what.





Give it a try. You have nothing to lose.





Good luck.
Reply:The fact that Wachovia is about to be bought by another bank/company is not suppose turn you away from them. And technically if Wachovia is offering a competitive rate now I don鈥檛 see any reason not to deposit your cash in there. Is Wachovia offering a competitive rate now is another question? Yes, the bankrate.com would be a good place to find this out.









Reply:Since Wachovia went belly up the other day I would highly recommend you put your money in BOA. I've been with BOA for years and have been very happy with them.


Wachovia has for years had the nickname of "walk all over you"....truthfully I was shocked when they went belly up.


Peace %26amp; Love :)
Reply:Try this website


http://www.bankrate.com/


You can compare National and it will rate the Bank.