Because we've been reading and following your comments, we know that many of you want to hear more specifics about the integration timeline.
So what details can we give you?
Well, for one, we're going to kick off the banking locations conversion during the last quarter of 2009 starting in Colorado. After that, we'll move on to other states where Wells Fargo and Wachovia overlap. As our executive vice president Patricia Callahan noted earlier, that means Arizona, Nevada, California and Texas will be next in line after "The Centennial State." Naturally, as soon as we have more specifics, we'll let you know.
In the meantime, keep letting us know what you're thinking! And a continued thank you for your patience and understanding! Stay tuned...
Again, where are the specifics on systems, products and the like? You can't keep posting pie-in-the-sky dates with no specific information to customers on decisions that affect their financial relationships. This really makes me think, Molly, that you don't know what you are talking about.
Now this is the kind of update many of us are talking about!
Will there be any more information about the new Wells Fargo's product lines? What kind of goods/services will there be in the new company?
@Anonymous | May 19, 2009 04:45 PM.
I think you really cross the line when you put personal attacks in your post. The bloggers are simply posting what Wells Fargo's integration team and public relations team will allow them to post.
When will the branch conversion take place in Florida? I love the Wells-Fargo logo!
Molly, thanks for the post! I think this is exactly the kind of communication we would like to see more of. Hopefully info for Florida conversion will be made public soon.
I also want to add that I think it's a shame there are people who post comments without reading the other topics on this blog. Perhaps if they did, they would've known that an announcement was previously made, along with a suggested time line, and now we have some specifics available to us.
PS - Hi Ed!
I hope WellsFargo can bring some sanity to Wachovia's imposition of ridiculous fees. Wachovia charges $10 to do an electronic transfer between two checking accounts. If I wrote a paper check on one account, and then deposited that check in the other account, then there is no fee. That is exactly backwards! The bank should be ENCOURAGING the use of online and ATM facilities as a cost reduction measure, not DIScouraging their use through punishing fees. Talk about penny-wise and pound-foolish!
For a Wachovia banker/ customer who has been out the country for the last 5 months, what is the best way now to find out information on my account given that old phone numbers don't work.
Thanks for the update! I look forward to seeing this conversion become a reality for the retail banking customers.
Here are some suggestions for the merger/conversion:
- I've noticed Wells Fargo has added its name to Wachovia website. Please begin rolling out the "Wachovia: A Wells Fargo Company" to all printed material including bank statements, brochures, and window signs at Wachovia branches. The tag line should also be introduced to customers when they are calling the customer service line.
- Introduce more print and electronic advertising about the merger. After the initial commericals at the beginning of the year, I haven't noticed anything new.
- Begin introducing the combined product offerings to both Wachovia and Wells Fargo customers. While I understand that the systems won't be fully combined anytime soon, the company could introduce Wachovia's Way2Save to Wells Fargo's customers, or upgrade Wachovia's online banking to Wells Fargo's look and standard.
- The company should begin aligning the product offerings on both sides to match each more closely (i.e. checking account packages, account features, etc.). Hopefully, this will make the integration more seamless.
- Wells Fargo should also publish a printed timeline for the integration. While knowing that the Colorado branches will be converted at the end of this year, it would be nice to know a general schedule for the remaining states and branches (i.e. 1st Quarter 2010, April 2010, 3rd Quarter 2010).
I agree with Tony. I am ready for Wachovia and Wells Fargo to start matching their account products. I am ready for the Advantage Checking Plan WF has, but I would like to see WF to adopt Wachovia's Way2Save plan.
any idea on when Indiana will merge?
the reason wells is extra careful with the merger integration is to avoid a repeat of First Interstate. I miss First Interstate.
Thanks for the info, Molly. I look forward to the combined bank and being able to use Wells Fargo branches! I live squished right between two of them (literally on each side of my block), while my Wachovia banking location is miles away! *tries to be a little more patient*
Since both Wells Fargo and Wachovia have a presence in Texas, will there be some branch closings taking place?
It seems that quite a few Wachovia branches in the DFW area are within a very close proximity with existing Wells Fargo and old Century Bank (now Wells Fargo) branches. There's got to be some major branch consolidation that will take place in Texas.
I have a question that probably applies to quite a few folks out there.
I live in Virginia and do my banking with Wachovia and my mortgage with Wells Fargo. Consequently I have online accounts with both. Once the integration takes place in Virginia can I expect my Wachovia accounts transfer to my Wells Fargo login?
I realize it's early in the integration process but it's something I've been curious about. Thanks!
@Shane – Thanks so much for your question about Texas locations! As you know, once banking location conversions are done in Colorado, we'll be moving on to Arizona, Nevada, California and Texas – states where Wells Fargo and Wachovia overlap. As for possible consolidations in your Dallas-Ft. Worth area, decisions about specific locations are going to be made when we get closer to that time. Rest assured though, we'll let you know. And we're also going to continue posting updates right here, so check back and keep your comments coming!
I've been a wells fargo customer for over 10yrs, and have recently relocated to Atlanta. I've been waiting PATIENTLY for almost a year now to be able to utilize the Wachovia network here in GA as a full-service bank, but it continues to get pushed-back with no firm integration date in sight. I'm affraid I'm going to have to dump WF and open an account with another local Institution -although I'd rather not, for the sake of my long-term relationship with WF. I sincerely WISH the powers that be could have made this merger smoother and more seemless, and communicated the change process more clearly and efficiently. This is a pretty lame Roadmap to a smooth and successful integration. If there were some FIRM dates for the GA integration, MAYBE i'd hang-on a bit longer....I just can't AFFORD to wait anymore.
MODERATOR'S NOTE: This comment was originally submitted 2009-06-04 06:34:13
How have you been waiting a year to use your Wells Fargo accounts at Wachovia in GA when the merger has only been complete for 6 months? I don't think anything has been "pushed back" because they haven't even announced a schedule yet.
MODERATOR'S NOTE: This comment was originally submitted 2009-06-04 14:26:49
I have already gone through this type transition when Chase took over Bank One. Everything stayed the same except for the name. No paperwork to sign, no account number changes, nothing, not even the ATM..they just sent a new one with my old picture on it and a Chase logo. When you look at your credit report after the transition both names show up. Even then without the economy being so bad it took about 2 years for everything to transition completely. Remember, Wells Fargo has been around longer than almost any bank so give them credit for knowing what and how to do it. Did they go to the government begging for money? NOT!
You people complaining need something else to think about. How would you like someone lambasting you everyday for doing what you are told to do or say.
Great job Molly and keep it up!!!
Can you please tell us which online backing system you will be using I have look at your and preferred Wachovia online system because it is easier and can do more. I hope you keep it. I been a long time customer but will switch to a credit union if you which from the online system that Wachovia Has. Yours Truely Paul Tetley
Was wondering when the conversion will take place in New Jersey?
Hamburg is celebrating it's 100th Anniversary on October 3, 2009. Is there any possibility of getting the Stagecoach in celebration of the 100th Anniversary?
This would be a great introduction into the Greater Northwest of New Jersey for our customers whom are awaiting the integation between Wells Fargo and Wachovia.
Looking forward to the merger.
MODERATOR'S NOTE: The views expressed herein are those of the blogger alone and do not constitute an official position taken by Wells Fargo or Wachovia. Please see About This Blog for more information.
@Nancy Kent-Unold - Thanks so much for your comment! Unfortunately, we don't have the specifics on when the New Jersey conversion will happen, but we'll let you know as soon as we do. As far as a stagecoach appearance, I've forwarded your question on to the proper folks to see. Stay tuned!