Ask Andy: Wells Fargo-Wachovia - WMC Action News 5 - Memphis, Tennessee

Ask Andy: Wells Fargo-Wachovia

By Andy Wise - bio | email

MEMPHIS (WMC TV) - Considering the problems both banks have had with home mortgages, a few of you are freaked out about Wells Fargo's purchase of Wachovia.

Chill.

Let me put it this way. My mother-in-law is a Wachovia-turned-Wells Fargo customer in the wake of the sale.

She said the transition has been smooth and easy. As a business traveler, she says she's even been able to use both Wells Fargo and Wachovia ATM's -- without fees or penalties.

Jamie Dexter, Wachovia's excellent communications officer out of Charlotte, NC, told me these are what Wachovia customers should keep in mind during the transition:

* WACHOVIA CREDIT CARDS CHANGED TO WELLS FARGO IN APRIL.  Dexter said if you had a Wachovia credit card, you should have already been issued a Wells Fargo replacement card for the same account. If not, contact Wells Fargo customer service immediately (see link below).

* KEEP PAYING YOUR LOANS AS NORMAL. Write the checks as always to the lender's name and address on your statements.

* CHECKING ACCT. # STAYS THE SAME, BUT DEBIT CARD # MAY CHANGE.  Dexter said this will be on a customer-to-customer basis. 

What that means is if you've arranged automatic bill payments, then pay close attention to your debit card's expiration date.  

"Whenever a customer has a debit or credit card set up for automatic payments, and the number or expiration date changes on that card, they should always notify those creditors of the new numbers and/or expiration dates to avoid missed payments and possible associated fees," said Dexter.

You really should be routing automatic payments through your checking account number anyway, not your card number.

For more Wells Fargo-Wachovia do's and don'ts, check out the tip sheet below or link to customer Q&A here:  https://www.wellsfargo.com/wachovia/faqs/wachovia.

Copyright 2010 WMC-TV. All rights reserved.

 

 

Tips for Wachovia customers in Alabama, Mississippi, and Tennessee as they transition to Wells Fargo

Do's

  • Do continue to bank as usual, using the same locations with the same friendly team members you know and trust.
  • Do activate your newWells Fargo Debit Card when you receive it in the email and begin using it after the changeover toWells Fargo, which will occur on September 25, 2010.
  • Do continue to use your current checks and deposit slips until they run out – in most cases your account numbers will not change.
  • Do pay close attention to information we send you in the mail, and if you have questions, call the toll-free number in the mailing. We're here to help.

Don'ts

  • Don't hesitate to ask questions if you don't understand something. Call one of the toll-free numbers in the information we send you or visit your bank location after the changeover and speak to your banker.
  • Don't worry if you are among the few customers who do not change to Wells Fargo systems immediately. You may have a complex account relationship, and we want to ensure your transition is as smooth as possible by preserving any links you have between accounts. Just keep banking as you do now.
  • Don't forget to explore the new products and services you can choose after the transition, including online tools such as My Savings Plan® and My spending Report With Budget Watch at www.wellsfargo.com

(Source: Wells Fargo)


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