Now that we've turned the page from 2008 to 2009, it's a brand new beginning for all of us. That's right, it's a new year and a new company! There are going to be some changes coming down the road, and Matt and I will be with you along the way. So in an effort to help you get to know us even better, we thought it would be nice to share our personal thoughts about everything that is and will be happening with you.
What are you most excited about with the combination of Wells Fargo and Wachovia?
Ann Marie: One aspect of the integration I am most excited about is what we'll learn from one another. Both companies have employees who are dedicated to our customers and customer service — I can only begin to imagine the possibilities! It's fun to look at our expansion eastward...WOW, we'll be all over the place! Over 12,000 ATM's in 39 states to be exact. And of course, it gives my kids one more reason we should go to Disney World! 
Matthew: For me, it's seeing Wachovia become a part of such a strong, stable company. Prior to the announcement of the merger, we employees felt we were a really good company, but it seemed like every time you saw a story about Wachovia, the tone was often somewhat negative. When I look at the other options for what could have happened, it really becomes apparent how fortunate we are to be together with Wells Fargo. It's like we can "see clearly now, the rain has gone." 1
What have you seen from each organization that you are looking forward to integrating into the combined company?
AMQ: It has to be teamwork and working together with like-minded people. The new team we've got is amazing, with so many similarities already — it's like we were destined to join forces. The people I have met at Wachovia feel the same way we do about so many things — everyone is all about rolling up their sleeves and getting going. We all clearly value what we bring to the table, both individually and collectively. And there's a shared passion from both our companies about focusing on our customers and communities!
MW: To be honest, the more I learn about Wells Fargo, the more I think even an online dating service couldn't have done a better job in matching up our two companies. Most people who know Wachovia (customers and employees) will tell you that we are a company that's extremely people-focused — hey, we've been ranked #1 in Customer Satisfaction for 7 straight years! What's even better is that Wells Fargo really mirrors Wachovia in valuing its customers and communities too. It's win-win for everyone.
Integrating two large banks is going to take time. What will customers notice in the coming weeks and months?
AMQ: It will take some time, and customers have to be wondering about how this will affect their interactions with us. That's why Matt and I are here — to try to help them through the process by blogging about and looking into whatever they may notice. It may sound like a cliché, but it's really true: When you put the customer at the center of everything you do, like both companies do already, we'll naturally continue our focus on delivering outstanding customer service. Bottom line is we care, and it will show.
MW: Well, probably the first thing customers will see change is access to ATMs. As Ann Marie mentioned, combined, Wachovia and Wells Fargo have 12,000 ATMs that customers of either company can now use without incurring any access fees. (More on this tomorrow.) Other than that, it really is business as usual for our customers — they should keep using their check card, keep visiting their local financial center and, in general, just keep on keepin' on. As additional aspects of the integration come together, customers should feel confident that we will communicate with them well in advance.
What are you most anxious about?
AMQ: I think having unknowns is good — it speaks to the fact that we're open to listening and learning from one another, and building an even better and stronger company than we were individually. I might be more anxious if it was years ago and I hadn't gone through other company integrations. But I've lived through both the work and the success at the end. And when we think "big picture," it's going to be one very, very terrific company!
MW: One word: Change. More specifically, how Wachovia customers will react to the change of becoming Wells Fargo customers. For some, it will probably have little to no impact — if the teller still says "I can help the next customer," and their check card still works, they'll be happy. But for others, there is a unique attachment to the Wachovia brand: the familiarity and the history. Hopefully those customers will see that, once it's all said and done, we have leveraged the best of both companies, and that the great things they remember about Wachovia still exist within the new Wells Fargo.
1 Copyright 1972, Johnny Nash
Is there a scheduled integration plan yet? I have accounts in Wachovia but am now living in the Wells Fargo footprint. This means I am waiting for the systems to be integrated.
Thanks,
That's the thing. The tellers at Wachovia don't say that. They're very customer-service oriented and the whole "Ranked #1 in Customer Service for 7 Years!" thing is VERY evident each time I walk into a Wachovia branch. This is the most horrible thing that could have happened. And Wells Fargo is a horrible bank. There's a reason hardly anyone here banks at Wells Fargo.
Will the logo change on checks and will the check card change, I need to order checks and I do not want to order if I am going to have to reorder ones with the new logo?
The interview in the article has your name as "Anne" (with an "e") in the first reference.
What if I have an account with both. Can the accounts be combined?
When will I be able to cash Wells Fargo checks in a Wachovia bank?
When will be able to transfer monies between W/F and Wachovia, using online transfer.
Chealsea-
Please keep in mind this is a Wells-Fargo/Wachovia blog and it's disrespectful to bash a bank, especially because Wells is not "horrible", I've been with it firsthand 28 years, and am completely pleased.
Welcome to the blogosphere, Ann Marie and Matt! As a New Jersey-based Wells Fargo PMA account holder, you can imagine I'm salivating at the benefits of the merger. Hope everything works well and the transition is smooth.
The combination of ATMs is great. I'm sure you're all working very diligently on this, I'll still take the time to note that the sooner the stores can service both Wells & Wachovia accounts, the better. Even without a full-blown system integration; maybe having one terminal with the other's system at each store may suffice. That will go a long way towards making it feel as "one."
Again, best wishes on the Integration; cheers!
what is the status and future of the Wachovia Championship??
I have a credit card thur wells and wachovia. When can I merger them together
When will the merger be complete?
The fact for most customers on the east coast it really doesn't matter when systems are combined. We are waiting to see the Wells commitment to employement (my neighbors!) and how much the new company cares about the community (arts, schools, other charities). If the new company doesn't show the compassion and concern, then my money will walk across the street to Bank of America. So my comment is "show" us what the company will mean to our Charlotte economy in the future.
When is the name change going to occur?
Please!!! Please Wells Fargo, seek guidance from Wachovia personnel. During the integration of World Savings into Wachovia it was easy and hardly noticeable. Yes we had to start logging into Wachovia’s website but that was the only major noticeable change. They now have experience in this process and should be able to help you Wells Fargo to make this easy.
What about fees? Wachovia is much cheaper in most respects, I was going to tranfer from Wells Fargo to Wachovia, now will WF's expensive fees be universal? Maybe that's why they are solvent?
To Anonymous:
No, WF was smart not to engage either into subprime or Option-ARM's (Golden West Financial *blink, blink*).
Very nice blog. Thank you for the open communication
@John T - Details of the Securities integration are not complete, but I'm sure you can expect very specific information about the plans for Wachovia Securities as those decisions are made.
@Mike - Integration efforts are expected to take 2-3 years. Somewhere during that period things like branches and signage will be converted to the Wells Fargo brand. When we have an official time frame for that, we'll definitely post about it here.
@Captain Karma - Glad to hear you've been so impressed by Wachovia's commitment to customer service! Rest assured we will leverage our experience in integrating our two companies.
@Anonymous | January 6, 2009 08:59 PM - The 2009 Wachovia Championship is scheduled for April 27-May 3. Branding decisions for future tournaments have not yet been made.
@Hey Sandra - If you are a Wachovia customer than yes, at some point we will rebrand to Wells Fargo. If you are about to run out of checks, I'd recommend going ahead and ordering a new box for now.
@Hi Chris - Once the integration of our two companies is completed, you can do whatever you like with your accounts - have two separate ones or combine 'em!
@John Thomas - Hi John Thomas! If you are currently a Wachovia account holder, you can cash checks from Wells Fargo at a Wachovia branch whenever you like, assuming you have sufficient funds in the account to cover it. Wells Fargo customers will have to wait to use Wachovia financial centers, as it will take some time to get our systems connected.
@Richard - Timing for syncing up our online banking system is still TBD. Check back here regularly for updates!
@Cory S - Great question. The answer is really unknown. We are just beginning to start the work of getting our credit card systems synced up. Check back here for updates!
@Anonymous | January 6, 2009 11:27 AM - Timing for system integration is certainly in process, but we have not yet announced a specific date for it to be completed. Please be patient as we want to make sure we get it right for our customers. In the meantime, you can at least take cash out and check balances at Wells Fargo ATMs!
@Jack Johnson - John Stumpf said it best: "Blending cultures, combining businesses, products and systems, and changing names will take time — two to three years — because we want to do it right for you."
I am a Wachovia customer and have raved to all my friends and family about the phenomenal customer service. In fact, I've received numerous gift cards from Wachovia due t all the referrals. They greet me by name when I walk in the door although I don't visit the branch that often. Plus, their online banking and one-stop-shop brokerage sites are FABULOUS and the e-bill feature is so CONVENIENT. I hope WF adopts Wachovia's online banking & brokerage sites and customer service attitude. If not, I will take my business elsewhere. Will WF offer the no ATM fees similar to Wachovia? I hate changing banks and hope the WF/Wachovia merger is a smooth one for their customers.
Matt said (regarding the PGA Tour event): "Branding decisions for future tournaments have not yet been made."
Lucas asks: if WFC had any interest whatsoever in continuing with this event then why didn't they use the '09 tournament as a springboard for the Wells Fargo "brand" in the region? Wells could have used the tourney as a tool to rally customers and employees. Correct me if I am wrong, but allowing the tournament to proceed in '09 as "The Wachovia" sends a clear signal that '09 is the last year that the bank will be involved in the event?
@Lucas - Hey Lucas, thanks for your comment! While I can't provide an official answer about how the golf tournament will be branded in 2010 because those decisions (along with ALOT of others) are still being carefully reviewed, I can provide some more insight into what went into the decision making process for the 2009 Wachovia Championship.
As early as last October, we faced a decision about how to brand the 2009 tournament, considering that tickets were going on sale and the amount of time that was needed to create all of the branded materials for such a large-scale event. In addition, knowing that the Wachovia brand would still be very visible by the time the tournament started in late April, the decision was made to move forward with it again being called the Wachovia Championship for 2009.
Hope that clears it up some, and stay tuned for announcements about 2010 and beyond!
Matt,
Thx for the reply, I honestly did not expect one ;-)
Having said that, I ain't buying it. Any company of your size and calibre could have easily produced what was necessary for the event. The only near-term decision that needed to be made was what would be printed on the tickets and that's a very simple production. After that there was a multi-month window to get things in order, that's what you are paying the ad agencies the big bucks for!
I'm laying 5-1 odds (lunch is the bet) that Wells Fargo will not be involved with this event in '10 and going forward.
Matt, I sure hope all the Wells Fargo banking fees don't transfer over to the Wachovia customers. In this economic time, who wants to pay to bank?
So when do blue signs start to turn red?