Matt Wadley: "This Blog Is About You"

Greetings!
A question about customers with a Wachovia mortgage. The requirements/guidelines for approving assistance to borrowers in default have been very stringent. Maybe stringent isn't the best word. They've been extremely thoughtful, but have not had many options for borrowers in trouble other than bunching up late payments to the back of the loan. Will this new alliance give borrowers a better chance of keeping their homes? Thanks!

Matt, Congratulations on the blog. Its very interesting to see the way Wells is leveraging new media to reach out to customers.

Is Wells Fargo going to honor Wachovia's CD rates on existing CD's?

Hi Matt,
Can we make deposits at well fargo branches, if we are wachovia customers? And will the name change?

great to see you out here

Matt, this looks like a GREAT effort by WB and WFC. I look forward to great things from this company.

Hi Matt - Like you I've lived on both coasts and now have accounts at both Wells Fargo and Wachovia. I'm glad this blog is getting started so account holders and interested parties (like me) can follow along with the changes. Best of luck to you and Ann Marie as you get started blogging and sharing!

Great Job with the blog. The conversation is authentic and personal.

Hi Matt, congrats on the launch of the blog. This little comment window is a pretty interesting idea!

Love the new blog, especially the personal comment function.

Matt, Congrats on the blog. It's nice to see open communication especially during a merger. (Note: there is a typo on the alt tag for the Third Party Link Disclaimer in the About section. Party is missing a 't'). Good luck and keep the conversation going!

great stuff matt. will definitely be checking back for updates.

Thank you for posting this blog. As a customer, this method of communication shows Wells Fargo is a bank that is open to new methods of communication and is serious about keeping customers informed about the integration. On a side note, I hope Wells Fargo keeps Possibilities Rewards and does not charge a fee for it!

Hey Matt,
Well, here's a question for you. It looks like the 2 Wells Fargo employees that helped me obtain my mortgage 2 years ago are no longer working at Wells Fargo. I'm not sure, but my guess is that this is the result of the merger with Wachovia. I need some mortgage advice and I don't want to have to start all over again with someone new. Especially since I had such a good relationship with my prior mortgage lender. So, what should I do?

huh? The comments are only positive and there's not a single bit of compelling content posted yet... how can anyone say "great job" or that it's "authentic"... give me a break.

Please consider taking advantage of other social media, i.e. Twitter

Wow. I've never seen anything more manufactured on the web in quite a while. This "blog" is indeed a way to post press releases and make your customers think the two companies are reaching out in an informal way. A link to a three-year old news story? A link to a Brady Bunch clip on YouTube that has no purpose? This isn't a blog at all and IS a gimmick. Post this comment and prove me wrong.

Hey Matt. I'm originally from Cali and grew up with the Wells Fargo stage coach checks. I'm not really worried about my current Wachovia checking account as long as the transition doesn't play havoc with all the online accounts currently drawing directly from my Wachovia account. How is this type transition usually handled? Will account numbers most likely change, or not?

@Anonymous -- If you’re a Wachovia customer, for now you should continue to use your regular Wachovia branch if that's where your account is at, and vice versa for Wells Fargo customers. As for the name change, Wachovia will be rebranded as Wells Fargo, but branch and sign conversion will take some time. For more info, take a look at the General Questions at wellsfargo.com/wachovia/faqs.

@Ron, thanks for your question! Until our two companies are fully integrated, things are being run as two separate businesses. As the integration process continues, you can expect to see updated communications on specific products and services. For more info, be sure to check out the General Questions at wellsfargo.com/wachovia/faqs.

As a Wachovia customer, I am concerned. I visited the Wells Fargo website, and I see that Wells has no "free" checking account! The basic Wells accounts requires either $1000 minimum balance or direct deposit. Otherwise there is a $5 fee. Also, online Bill Pay costs extra. At Wachovia, when they say free checking, they mean it. No minimum balance or direct deposit is required. I get free online bill pay. Is this what my future will be at Wells? Complicated rules and additional fees? How do you feel you can compete here in Charlotte when the competition still has free checking?

I spoke to the other bank, BBT, and they assured me that free checking is still free over there. Will Wells consider changing the rules and matching the great deal that I have at Wachovia?

What do you see in Wachovia that you can use throughout the Wells footprint? What can Wells learn from their culture? Anything?

So I went to school in NC and had a Wachovia account over there. Came back to California where I am still currently a Wachovia customer. However, there is a Wells Fargo branch literally across the street from my Wachovia branch. I take it that this means one of them is going to disappear. When will we learn about these sorts of developments?

@Anonymous | January 5, 2009 11:48 AM. The point is that the company has a blog in the first place. That is what is positive about. Goodbye to stodgy, buttoned up East Coast banking. I'm looking forward to having banking-California style in NC.

@Charlotte_customer - Thanks for the feedback! We actually have a Wachovia domain (@Wachovia) on Twitter where we post updates and answer questions. You can find us at www.twitter.com/wachovia.

@Mark R. - Great questions! Things like direct deposits, automated payments and transfers will continue without interruption. As far as account numbers, our goal is to keep them the same, but if by chance that changes, we'll definitely reach out to and notify you in advance.

I was looking at the Wells Fargo site, and there are frankly a lot of things to be concerned about fee wise. Wells Fargo seems like a 'nickel and dime' operation. There is no 'Free Checking' (with no strings attached). You are charged(!) for having a rewards program on your credit card. The premium checking products do not compare at all to Crown banking (no free safe deposit box, etc). I hope that Wells Fargo does some serious introspection on the services they will be offering to Wachovia customers!

Please don't get rid of Way2Save!

I was also educated in Virginia, where I currently live, and for reasons similar to yours I have a WF account; so why would I have one if there are no branches or ATMs around?

After the merger, will I be able to use my WF ATM card at any Wachovia branch without paying any fees?

~Rob N

Hi Matt,

I am hopeful we will be able to make Lemonade out of lemons. Nothing personal but there is some disappointment with the purchase of Wachovia. However, this may be good news for small businesses. A couple of months ago, I pursued a small business loan from Wells Fargo - only to be informed that Wells did not make loans in states without a brick and mortar location? First of all is that true? Secondly, is this good news for small businesses in Charlotte?

Matt - good to see and read your blog. Wishing you and all of us a fantastic 2009! Looking forward to the integration. Will the blog be available through Pulse?

Being a satisfied customer of both Wells Fargo (since July 2007) and Wachovia (since August 2006) and having had a great time when I worked for Wells Fargo, I am very excited to see that the two companies are being brought together and hopefully will bring the best of the two worlds and pull through this crisis together.

I have nothing but good things to say about both companies: Wachovia made my college education a reality through a Student Loan and Wells Fargo has done quite well in my checking and savings needs as well as helping build my credit history through my first credit card, which has been a lifesaver in emergencies. I would like to see it that the new Wells Fargo will reflect the long-standing heritage of two companies.

I think it would be neat if either on this blog or either WellsFargo.com/Wachovia.com there was a short video presentation about the merging of these two companies and give an brief intro detailing a bit of the history of each company.

What will happen to the Wachovia brand name???

So....is that it? A couple of company-inspired notes do not constitute a blog. I want this combination to succeed as much as anyone, but propaganda does nothing to make this work any better.

Please tell Wells Fargo to get a High Interest Savings account like Citi, and M&T, and I guess the Wachovia Way2Save even though it has deposit limitations. Thank You

Heya!

Well, the biggest question on my mind so far has not been about cash withdrawls at Wachovia ATMs (who wants to take cash OUT?), but rather about deposits! My biggest question is if I can finally add Wachovia ATMs to my tiny list of available Wells Fargo ATMs for deposits! That's always been a pain, finding a nearby ATM to stick some cash into. Can we finally start dropping cash into a Wachovia ATM?

Hi all, as a Wells Fargo Company Bank employee, I am truly excited about our merger! The major reason most customers bank where they do, is for convenience and we have the best hours for our customers than any other bank out there. Now, we have the convenience for our customers coast to coast. I really enjoy working on Saturdays when they are off because most other banks are closed before 6PM on Saturday and our customers and clients love that. One of my biggest selling points to my clients is that we are open and willing to help them and thier bank is closed, the old addage of bankers hours is gone from Wells Fargo. All of my clients love not only me but our bank because we try and deliver the best customer service possible and while I have not met another Wachovia employee, I have heard that they pride themselves in customer service as I do. That to me is great news and while I feel for a lot of our non customers that have been impacted by our financial crisis, the new ones that I have met due to this situation have made it all worth while because I happen to work for the very best financial institution in the world and our rankings as the only AAA rated financial institution in the world proves what we are about and it all starts with our new CEO John Stumpf and our previous CEO Dick Kovasovich and their ideas of corporate fiscal responsibility, not for the immediate profit to boost the stock portfolios but what is right for our clients, stockholders and our employees. That is why we happen to be one of AMERICAS PREMIER COMPANIES and will continue to be so. I am very proud to be an employee of Wells Fargo Bank and have never been so proud to be one, especially in these trying financial times when one doesn't know if they will have a job and I know that we will continue to grow and prosper because we will always take care of all of our clients. Now I can tell my clients that move away from California to the east coast or south or even the midwest, "let me find the nearest branch for you in the area" instead of "sorry to see you go and I understand that we are not convenient for you now that you are moving away, and here are a few of the other banks available to you in the area"....That is what it is all about and with that, I am very happy to welcome Wachovia to Wells Fargo's family!

if i have a wells fargo account, when can i start using the wachovia branches her in charlotte?

Hi Matt, this is a fantastic initiative by the management and communications team at Wells Fargo. Do you cross post on Twitter as well? I would love to follow the fill-ins on a flux basis. BTW are there any podcasts or webcasts where you or a member of your team discusses the conception, evolution and execution of the idea to start a blog on the merger?

Matt, I was a former First Union customer and became a Wachovia customer due to that merger. With the merger, came a new and updated logo. Any chance the Wells Fargo logo will be updated to incorporate the Wachovia ties? Looks like this would be a great time to update the logo. Thanks for your time.

Smiling Hello Matt:)
Congratulations on your step. This 'window' idea is 'great' and 'innovative'. Will be a follower of your blog from my window in Istanbul (of Turkey).

Nihal~
Str Mark. Planning Spe.

I've been with Wachovia for 40 years. Customer Service has been excellent. I hope Wells Fargo is sensitive to its customer base in NC.

Great idea! Comment from retired Wachovia employee, stockholder, and customer!

This is real innovation in merger arena - to communicate with customers via blogs. Keep it up and do build up on the hype as time proceeds.

Two "families" joining together is not very accurate? I have to admit, it would have been funny if the Brady bunch show had a pre episode where they picked which kids to send packing before the families merged.

I’m not sure what type of person actually feels like their bank is a family. The last time I loaned money to a family member, I never saw it again! On second thought, maybe banking is just like family.

Good luck guys.

All,

I hope that others will use this blog. What a great idea. I worked for Wachovia for 13 years (left in Oct. of 2007)...was not laid off. Wachovia is a great company and so is Wells. I have of course lost a lot of my retirement due to the economic crisis and look forward to the Wells/Wachovia merger with great expectations...especially in getting my retirement built backup. That said I am definitely going to check this blog daily to get updates and information...and look forward to hearing from you, Ann Marie and John Stumpf.

Matt, The launch of this blog seems to be resonating with many for being transparent, truly human and substantive. I look forward to the posts.

Witty, clever and a nice segue into the wonderful world of mergers.

is this a joke? W Thompson, you might want to update your AAA comments.

Wanted to make a correction on my comment posted in the Blog about Wells Fargo Bank being AAA rated and as I found out today that our ratings were changed in Dec to AA+, my error, and for that my apologies for the ranking error but still a proud member of our new Wells Fargo and Wachovia team. William

Thanks for all your comments about our integrated comment box. We designed the blog this way to make it as easy as possible to receive your feedback. The response has been overwhelming! I appreciate your patience as we go through your comments and route them to the right people here.

Thanks!

I like some of the points raised in here, so I will add my opinions as well.

Way2Save: As a Wells Fargo checking and savings account holder, I would LOVE to see this program being not only continued, but also expanded nationwide through Wells Fargo. I do think this is a great idea to help customers learn the idea of saving money more actively. Now, who else also with me to keep Way2Save? If you support it, then post it and indicate whether you are either an account holder of Wells Fargo, Wachovia, WFC & WB, or neither.

Wachovia Logo: The idea of incorporating the Wachovia "waves" into the Wells Fargo logo seems not only plausible but I like it a lot too! That would reflect the heritage of the combined companies. I can think of one possible design but it would also contain the Stage Coach. I think that with the Wachovia "waves" included, it might add more "character" and depth as if the Stage Coach is running fast...fast to one GREAT future made possible by the heritage of two great companies. That's one great logo I would find inspiring and offer hope.

Those who are thinking of switching: I think it's better to wait what changes will happen to the combined companies before making a hasty decision. The integration process has just started and it's very early to tell what will happen for sure. You have to give Wells Fargo some time to decide which products/services from the combined entity will stay or be discontinued as it tries to create the best product line that offers the best value to its customers. With Wachovia customers (Wachovia being a major bank with a large customer base), Wells Fargo will try to accomodate them as much as possible, so they will put that into consideration. It would make no business sense to lose so many important customers. If Wells Fargo keeps those features you all love, better for you to stay as you will have the largest branch network available in the country for your convenience. If Wells Fargo decided to discontinue them, you can either find a close match or you still have to choice of choosing another financial institution and there is absolutely nothing wrong with that. That is how markets work.

Wachovia's BillPayer is a great feature that I hope Wells Fargo will retain in toto.

--I'm a Wachovia personal checking account user in Md. and s.e. Penna. I have need to send funds to Mexico semi-regularly now, and have been hoping to be able to access Wells Fargo's ExpressSend service rather than have to switch to B of America to access a similar service. (Wachovia only offers me wire transfers with a $40 transaction fee per pop.)

From what I'm reading in the FAQs today, gaining access to services such as ExpressSend is way over the horizon. Frankly, I'm disappointed.

--This blog is welcomed if it does indeed provide timely info of the integration roadmap.

I am a senior at Wachovia using Crown Classic Checking, with free safe dep.box, free checks, a money market, special savings, and cds.along with unlimited Bill Pay. I feel like family when I walk into the bank because they take of me - no hidden fees, no if you do this you can have that -what they say is what I get which is great customer service. If WF cannot deliver same, I am off to a credit union. It is my hope WF is bank enough to learn from Wachovia.

Will my local Wachovia Branch be closed for any length of time for changes?

Why does Wells Fargo call bank branches/locations a "store"? Just seems a little weird to bank at a store rather than a branch or bank. Just curious. Thanks.

@hosin - Thanks for the post. You ask some tough questions and I think the best recommendation I could offer would be to address this with one of our mortgage consultants who could provide you with specific options for your mortgage.

@Anonymous | January 5, 2009 11:41 AM, thanks for your inquiry. I'd expect that the two employees that helped you get your mortgage could be anywhere… including still at Wells in another capacity. But to answer your question, any mortgage rep in a Wells store or on the phone (1-866-234-8271) will be able to provide solid advice.

@Amelia - The Wachovia brand will be retired once the integration with Wells Fargo is completed.

@Anonymous | January 5, 2009 06:57 AM - We are still operating as two separate customers so keep on using your regular Wachovia branches for now. And yes, Wachovia will be rebranded as Wells Fargo.

@Matt - I like getting cash out! But to answer your question, you'll have to keep using your Wells Fargo ATMs for deposits until we get our two systems online with each other.

@Valerie - Timing for branch conversion is still a ways off as we have a lot of work to do to get our systems linked to ensure the best quality of service for you and all of our customers.

@Wachovia customer - Glad you've been with us for so long! I'm not sure what the plans are for updating the Wells Fargo logo, but I'll pass along your suggestion.

@Nan - 40 years! Awesome! I'll tell you, everytime I've heard or read comments from John Stumpf, he mentions Wachovia's commitment to customer service and his desire to ensure that becomes part of the new Wells Fargo.

@Scott from Modesto - While I am not familiar with the policy that you mentioned, I would recommend discussing your situation with one of Wachovia's mortgage consultants to discuss your options.

@Adam - Thanks for the post. As you might imagine, these decisions have not been made yet. However, if one of those branches has to close, you will be given ample notification in the event you need to transfer contents of a safe deposit box, etc.

@Obi Onyeaso - Heck ya we cross post on Twitter! Check out our updates at www.twitter.com/wachovia. Love the idea of documenting how this whole blog idea came about - I'll pass it along. Tweet ya later!

@Ron - Right now we're still operating as two separate companies. I'm not sure what the plans are for CD rates, but stay tuned here for updates as they become available.

@Anonymous | January 5, 2009 02:08 PM - Wow you've really done some research! I'll pass along your concerns regarding free checking and we'll keep you posted on any decisions that are made about it.

@Rob N - Where did you go to school? As far as ATM fees, we just announced that customers can use any of our 12,000 combined ATMs for cash withdrawals with no access fees. Hope that makes life a little easier for ya!

@Concerned in California | January 4, 2009 11:14 PM

Thanks for your comment – we apologize for the delay in getting a response to you! Although I don't know the specifics of your situation and loan, I do know we really want to help you find a solution that allows you to stay in your home with a payment you can manage long term. There are a number of options we can usually consider, including refinancing, establishing a repayment plan or doing a loan modification. If you’d like more info on the differences between these options, you can find them at: www.wellsfargo.com/homeassist.

Other than that, the best advice I can give you is to call the customer service number on your mortgage statement and work with the representative to determine which option may be best for you. They’ll need a thorough understanding of your financial situation, so be sure you provide all the information you can at the beginning of the process. Remember, this process can take some time, and the person you initially talk to at your mortgage company is probably not in a position to give you an immediate decision. So be sure to check back once a week or every few days if need be!

Thanks again,
Jason Menke, Wells Fargo Home Mortgage

The biggest question is if Wells Fargo Bank will be helping current wachovia customer with the "pick a payment loans". Unfortunately, Wachovia Bank has done NOTHING to help us. I've been trying to get my loan modified for the past 10 months, every time I call I get no assistance and they would recommend that I be delinquent for assistance.

I have free Business and free Personal checking with Wachovia. If they start charging me the fees listed on Wells' Web site, I will have to leave the bank. I hope we are "grandfathered" in with the free products.

@J.A. Santes | January 5, 2009 07:27 PM

Good news, we're there! Check out our YouTube Channel, and you'll find a series of 3 videos by our CEO John Stumpf, that talks to our vision, values, history and culture.

Enjoy!

One feature Wachovia has that I LOVE is "telephone" billpay. I know every bank these days offers internet billpay... but it sure it nice to pay a bill quickly from a hotel or airport without having to log into a computer!

@Ed Terpening, VP Social Media, Wells Fargo

Thanks for the link! I was already familiar with those videos on YouTube. I'm talking about a video regarding the current merger.

Well, at least the new ad is running and I like it!

Hi Matt, One quick little note: I own a small business and I love Wachovia's Online Banking. I've experienced systems from Citi, Chase and Wells Fargo, and if there is anything that will ruin my banking experience it is a cumbersome online systems. Please make certain that the better system prevails in this integration.
Thanks,

Great use of "PUHlease" in a sentence. I'm not a customer of either bank but may become one just for that alone!

Hi,
Move to east coast from Alaska I want to make a deposit there are no Wells Fargo's here and Wachova said I can't deposit because the bank is not set up that way. When can I go into a wachova and make deposits into make account

As a Utah customer, and an Air Line employee that has traveled coast to coast, I have had the oppertunity to be a customer of both Wachovia and Wells Fargo.

I have to say as far as two banks merging, in my humble opinion this is the best of both worlds!

The common fabric that I think both WB & WFB share is a commitment to SUPERIOR customer service!.... Not to mention that both banks have what I think are the best products and no or low cost.

I think if everyone can remain patient, and remain open minded, the new Wells Fargo will be THE BANK!

But... I have to to be honest I really.. really like the current red/yellow Wells Fargo logo. (nothing against the Wachovia waves) ;)

Allow me to comment from another perspective. As a lawyer whose firm has represented both Wachovia and Wells Fargo for years, I find both organizations filled with persons who are honest, hard-working, fair, intelligent, and sincerely concerned about the welfare of their customers. This merger will undoubtedly be a "1 + 1 + 3" situation.

I hope Wells Fargo plans on keeping Way2Save, its the only reason I opened my account with Wachovia and it will be the only thing that will keep me with Wells Fargo!!!

Can I go to a Wachovia bank and take out money from my account from wellsfargo. There are no banks close to where i live but there are banks of Wachovia?

Hi Matt, with the recent press release that Wells Fargo will now offer Wachovia customers the same Loan Modification program. Do I contact Wachovia about a loan mod or do I contact wells?

@Edgar, the number you should call to inquire about the modification program is 800-642-0257.

"@Ron - Right now we're still operating as two separate companies. I'm not sure what the plans are for CD rates, but stay tuned here for updates as they become available." You posted this Jan. 9. How come the most recent comment is 1-28-09, when it is March 15 today? I need to know about whether time deposit rates will be honored.

I am a California native residing in Maryland. I am still waiting for word on when I can head over to the local Wachovia Branch and use my Well Fargo ATM card. Any status update?

Hi Matt, I share your love of the written word. The pen is truly mightier than the sword. Thanks for providing this blog.

I have been a Florida National/First Union/Wachovia customer for 23 years and experienced several mergers. One bit of feedback that I'd like to give is that the Wachovia Free checking account (with free bill pay/on-line banking) has been one of the best things about Wachovia. I was about to leave Wachovia after the First Union-Wachovia merger but the decision of Wachovia to create this type of account kept me a customer. Wells Fargo's free account does not match (as discussed by Anonymous above). So I find myself in a similar situation. I keep a healthy minimum balance in my current account which, I'd guess, allows Wachovia to use these funds for other loans.

I'd guess that there are many other customers out there with similar views. The Wachovia fee checking account is one of the most popular accounts, according to the Wachovia main web page (www. wachovia.com). Please could you pass on our thoughts and constructive feedback.

Thanks,
PJ

@ how about now, in response to your comment on May 19, you can use your Wells Fargo ATM card now to withdraw money from any Wachovia ATM.

I am currently receiving 4.10 APR on my Wachovia IRA and CD accounts which will mature in 2012. Will Wells Fargo honor these rates until maturity?

@ Ray, in response to your comment, we will be honoring your rates until maturity.

@PJ - Thanks for reading! We've passed along your comments to the team that handles this product.

@dave - Welcome to the Atlantic side! Unfortunately you won't be able to use Wachovia branches to conduct Wells Fargo banking until the eastern state you've moved to converts. Maybe try Wells' banking by mail service until then?

MODERATOR'S NOTE: This comment was originally submitted 2009-06-04 12:56:47