We All Know the Fundamental Rule of Money Management:
Keep Your Cash Working
When money sits idle, it loses its earning power through
inflation. With an Advantage Account, your cash is always working for
you.
An Advantage Account incorporates all the financial services
you need to develop and maintain a successful financial plan. By offering
many of the convenient features of banking — including check writing
and a Visa® Gold Check Card/ATM card1
— this personal cash management program lets you take a comprehensive
approach to managing your investments, your retirement savings and even
your everyday household expenses.
The Advantage Account is based on the concept of continual
investment. Here’s how it works:
Your Advantage Account includes all of your investment
transaction activity, making financial management organized and easy.
All excess cash in your account is invested in an FDIC
insured option2 or one of several money-market
funds3—whichever one you choose.
Your money is never inactive; all earned interest, dividends
and deposits in your account are swept daily, down to the penny, and
reinvested into your selected sweep option
If you elect direct deposit, all or a portion of your
paycheck will begin to earn dividends immediately.
You can even have money transferred from your other
bank accounts into your Advantage Account on a regular basis.
Choice of Several Sweep Options
Your cash, when not invested in stocks or other securities, is invested
in one of several sweep options — whichever one you choose. Every
day your dividends, interest and excess cash are swept down to the penny
and reinvested — automatically.
Detailed Monthly Statements
Each month, you’ll receive an easy-to-follow statement that recaps
all account activity, including your securities positions, buy and sell
activity, interest and dividend credits and margin activity. The statement
will also include all cash transactions from check writing to check
card use.
Gain/Loss Reporting
Your Advantage Account statement will also include a complete listing
of realized and unrealized gains and losses. This will help save time
and money at taxtime.4
Visa Gold Check Card
There are no monthly interest charges on purchases made with your Visa
Gold Check Card. Purchases made with the card will be debited from the
account. Lost cards can be replaced within 24 hours.
Additional Travel Benefits with Visa Gold
$400,000 in travel insurance for each family member
Cash advances of available funds from 200,000 banking
offices worldwide
Emergency legal and medical assistance
Quick Access to Cash Through ATMs and Banks
Your Visa Gold card allows you access to cash from your Advantage Account
through more than 500,000 Visa® ATMs throughout the world and cash
advances through Visa member banks. The processing bank may assess a
transaction fee.
The Convenience of Check Writing
Your Advantage Account works just like a checking account, but your
cash is always invested and working for you. Access your cash at your
convenience through unlimited, no-minimum check writing. It’s
easy to track your expenses by checking off a category box on each Advantage
check. The codes are printed on your monthly statements.
Online BillPay
One of the most time-saving features of the Advantage Account is our
Online BillPay Service. This feature allows you to pay anyone in the
United States, 24 hours a day, seven days a week. With Online BillPay,
you can eliminate the monthly tasks of writing checks, buying stamps
and worrying about mailing your payment on time. You can give your payment
instructions via the Internet.
Payroll and Government Direct Deposit
Whether you deposit all or part of your paycheck, your Advantage Account
puts your money to work for you right away — before you find other
ways to spend it.
Bill Payment Service
Your account can automatically send out up to five regular payments
per month, making obligations such as your mortgage and insurance premiums
hassle-free.
Convenient Borrowing Power
A margin credit line5 is available and is
limited only by the marginable value of your securities. You can access
margin credit by writing a check or buying securities. Amounts not available
for payment in cash or money-market funds are automatically drawn from
your account up to your available limit. Any outstanding loan balance
will be reduced as cash enters your account.
Annual Summary and Tax Package6
An indispensable tool when preparing your taxes, your 1099 forms are
included, as well as annual summaries of deposits, withdrawals and year-end
portfolio values. Open an Advantage Account today. To open an Advantage
Account, you must have $5,000 in cash or marketable securities (cash
minimum $1,000). Enjoy better control of your finances and see the rewards
of keeping your money working for you.
1. Subject to credit approval.
2. The Bank Deposit Account sweep option consists of
an FDIC insured, interest-bearing deposit account. Deposits in the Bank
Deposit Accounts are obligations of Wachovia Bank, N.A. only and are
not obligations of, or guaranteed by, Wachovia Corporation or any of
its subsidiaries.
3. An investment in money market mutual funds is neither
insured nor guaranteed by the U.S. Government, and there can be no assurance
that the funds will be able to maintain a stable net asset value of
$1.00 per share.
4. Gain/loss data shown on your account statement is
for your information only and is not a substitute for your own records
and the year-end form 1099. Cost data and acquisition dates provided
by you are not verified by us. Please consult with your advisor to determine
the tax consequences of your securities transactions.
5. Margin trading entails greater risks and is not suitable
for all investors. If the market value of the eligible securities in
your margin account declines, you may be required to deposit more money
or eligible securities in order to maintain your line of credit.
6. Available for certain personal and business accounts.
Contact your Financial Advisor for details.
Accounts carried by First Clearing, LLC, member NYSE/SIPC.
