It's a question many of you are asking, but as my new boss, John, has said many times, the integration of our two companies will not be calendar driven – instead it's about taking the time to get it right for you, our customer.
And as much as we'd love to just flip a switch and instantly give you access at any of our combined 6,000-plus branches, it's not nearly that simple. In fact, there's a myriad of complexities involved in keeping your accounts up and running that must be identified, evaluated and planned around. Only after the planning phase is completed can we start executing system integration and changes, all while working to ensure that the conversion is not disruptive to you and the services you use every day.
Now, if that doesn't make your head spin a little, here's some more insight into how complex it is for my colleagues to turn two large companies into one: your accounts at either Wells Fargo or Wachovia are tied to each company's respective infrastructure and data centers. The account features and services that you use every day (like online banking, account overdraft protection and mobile banking) are based on what each of these independent bank technologies can support.
Prior to our merger, these massively complex systems didn't know the other one existed — now they're like step brothers 
, and we have to make sure they play nice.
Now, I know (I know!), we're starting to sound like a broken record, telling you over and over that, for now, we're just not ready to offer you the ability to conduct business in a Wells Fargo store or Wachovia financial center where you don't have your account. But hopefully now that you've got a better idea of what's going on behind the scenes around here, it all makes a little more sense.
And down the road, if any of this integration work results in an impact or change to your account, you'll receive specific details well in advance of any conversion activity. And if any of these communications include actions that need to be taken, you will have plenty of time to complete them.
So in the meantime, continue to check back with Ann Marie and me for important updates, keep visiting the Wells Fargo or Wachovia branches where you have your account...and don't forget that you can already withdraw cash at any of our 12,000 combined ATMs without any fees. (I'll spare you the details of how complex that was to get done!)
Nice update. Good explanation.
It's OK for the wait as long as it goes as smoothly as possible for the customers. I just wonder what the new line of products and services that the new Wells Fargo will offer. I do hope it brings out the best of the two companies. I do like my Premium Membership checking account with Wells Fargo, but I would LOVE to have Way2Save with it.
When will I be able to make deposits and transfers at Wachovia Branches and ATMs?
Instead of Wells Fargo which sounds old..use
W & F Bank which stands for Warm & Friendly!! I hope this will be an easy task!! Thanks..Carol
I am pretty livid. Today I read that Wells Fargo is planning a big Las Vegas junket for its employees. This is unbelievably tacky considering all the money Wells Fargo received in the bailout package and considering our senstive economic climate. I am currently a wachovia customer and had every intention of staying with Wells Fargo after the merger took place. However, I am pretty sick of watching big banks take advantage of people. I will be taking my banking business elsewhere. I imagine many other people are going to react this way as well!!!
Is there someone at Wells Fargo who is knowledgeable about the plans to take over the Wachovia loan portfolio, specifically, the adjustable rate loans that are based upon COSI?
We have several COSI loans, and are confused by what has happened to the index over the last couple of months.
Thank you.
I was very happy to see the merger with Wells Fargo and Wachovia. I've had an account with Wells Fargo for approximately 30 years. I moved from the midwest to the Washington DC area a few years ago and found there were no Wells Fargo Banks on the east coast. I had to open another account with a local bank to facilitate necessary banking needs. With the merger, I hope to start making Wells Fargo bank account deposits at a local Wachovia Bank. Can I currently do that at the Wachovia ATM machines?
Thanks,
Greg
Matt,
Do you know if the written strategic plan of the merger is available to the public? I am in business school and hope to write a paper about the specifics of this plan. Could you point me in the right direction?
KC
I am in the Army and a “raving fan” of Wachovia! However, I would like to have the benefits of Wells Fargo Military Bank… Will I be able to convert my current Wachovia accounts to Wells Fargo Military Bank products after the merger is complete? I hope that Wells Fargo understands that Wachovia Customers are not used to substandard service! Thanks, for all that you do for us!
Shane
I am hearing that it will take years for Wells Fargo and Wachovia to completely merge. It would be nice if you guys gave us at least a guesstimation timeline. I personally despise Wachovia and was getting ready to go to another bank until I heard about this merger. I don't know how much longer I am willing to wait.
My husband is a Wachovia employee in Winston Salem. Do you have any idea when we will know Wells Fargo's plan for Wachovia employees. It's so hard to have your life in limbo.
In all of my years of bankibng, Wells Fargo is so much better than any other bank that I have dealt with. I moved to Florida in 2005 and had to get a bank of the non-Wells Fargo kind and I am so unhappy. The other banks seem to still not measure up. I'm getting impatient with having to wait. This other bank is just stupid and almost always understaffed. I still have open WF accounts. I'd still use Wells Fargo if I knew that I could make deposits from Wachovia. Please hurry before I hurt these people at this stupid bank that I'm stuck with.
Why do you care where people get taken by their companies? First of all, if you have free checking, that money isn't coming out of their pocket. Second, if you read carefully about the bailout, you would know that some banks, including Wells, were forced to perticipate without actually needing the money, that Wells Fargo saved Wachovia, and that they are being LOANED money at a rate of interest, most of which they have already paid back anyway. Stop being soo greedy that you can't imagine other people getting things without being jealous. That is actually what got us all in this mess to begin with.