Please give any information/thoughts/rumors/etc. concerning the absorption of Wachovia by Wells Fargo.

Wells previously announced in their conversion blog that Colorado branches would be converted in November. They also recently gave an expected order for other state conversions.
Wells Fargo said:During 2010, we expect to convert banking stores in the states where Wells Fargo and Wachovia overlap: Nevada, Arizona, Illinois, California, Texas, Missouri, and Kansas. (Those are in the order we expect to convert.) Near the end of 2010, we'll begin converting the non-overlapping states: Alabama, Tennessee, Mississippi, Georgia, New Jersey, Deleware, Connecticut, New York, Pennsylvania, Florida, Virginia, Maryland, Washington D.C., South Carolina, and North Carolina. (Again, listed in the order we expect to convert.)
As I mentioned in the Way2Save thread, earlier in the year, Wells Fargo stated that they were keeping the W2S; but did not give any details as to how that would work out.

Recently, I found that the Wachovia website no longer display interest rates for demand deposit accounts (savings, checking, etc.). I was told that this is due integration.

Thanks for starting this thread. I am extremely sceptical about the merger, notwithstanding the praise heaped upon Wells by its customers and "team members" in reply to the CEO's welcome letter. Not that I'm a Wachovia fan. I'm a holdover from World Savings (remember those great CDs?).

If there are any Wells Fargo customers here, please let us know if there's any truth to the rumor that you cannot ACH money out of your Wells accounts to another institution. I have a Wachovia CD which I (had) plan(ned) to roll into my Wachovia checking account and ACH out, then close the account. I'm hoping I can do this before the conversion; otherwise it might be a PITA to get my money.

My wachovia mortgage is getting gobbled by WF, the only thing I want out of the merger is a .25% rate reduction for automatic payments. That would make my day and I am going to push hard for it once I am assimilated this month.

Ank329 said:DamnoIT said:My wachovia mortgage is getting gobbled by WF, the only thing I want out of the merger is a .25% rate reduction for automatic payments. That would make my day and I am going to push hard for it once I am assimilated this month.

How do you get this .25% rate reduction? Is it for Wells Fargo customers?

I think it may only be avaialable to a WF underwritten loan. It was for those who tied their WF account to do autopay on thier mortgage. I am still going to push for it when we are borg.

Ank329 said:DamnoIT said:Ank329 said:DamnoIT said:My wachovia mortgage is getting gobbled by WF, the only thing I want out of the merger is a .25% rate reduction for automatic payments. That would make my day and I am going to push hard for it once I am assimilated this month.

How do you get this .25% rate reduction? Is it for Wells Fargo customers?

I think it may only be avaialable to a WF underwritten loan. It was for those who tied their WF account to do autopay on thier mortgage. I am still going to push for it when we are borg.

Hmm... I recently got a mortgage through WF and I didn't know about this, I gotta look into this and see if I can get a rate reduction.

Thanks for the info!

This may have been a short lived offer this past spring then the refis were hot. I am not seeing it mentioned at the present.

craig10x said:unlike Chase...which converted over WAMU pretty fast...sounds like Wells Fargo is doing the Wachovia conversion at a "turtle slow" pace......
Other then their "cute" stagecoach design checks...what is so great about them? They don't even have their own ACH transfer system.....

Their PMA Checking Account gives you 100 free trades for each brokerage account; and the requirements for the PMA account are low (25k) which includes 10% of your mortgage balance.

ThursdaysChild said:Thanks for starting this thread. I am extremely sceptical about the merger, notwithstanding the praise heaped upon Wells by its customers and "team members" in reply to the CEO's welcome letter. Not that I'm a Wachovia fan. I'm a holdover from World Savings (remember those great CDs?).

If there are any Wells Fargo customers here, please let us know if there's any truth to the rumor that you cannot ACH money out of your Wells accounts to another institution. I have a Wachovia CD which I (had) plan(ned) to roll into my Wachovia checking account and ACH out, then close the account. I'm hoping I can do this before the conversion; otherwise it might be a PITA to get my money.

I think you are right. I have a wells fargo account and I have have not found a way to ACH out.

sechs said:As I mentioned in the Way2Save thread, earlier in the year, Wells Fargo stated that they were keeping the W2S; but did not give any details as to how that would work out.Poster in the Way2Save thread reports that he was told at a branch that there would be no new W2S accounts starting in January. Existing accounts would be grandfathered.

Pretty funny that WF is such a dinasour with the ACH think, must be an archaic policy to keep money less avaialable and to keep more in the thier accounts. You can send up to 1k per day to another WF account but you have to know the number and it doesnt keep it in memory or anything to the effect so you have to enter it time and time again. Its a Fossil man!

DamnoIT said:Pretty funny that WF is such a dinasour with the ACH think, must be an archaic policy to keep money less avaialable and to keep more in the thier accounts. You can send up to 1k per day to another WF account but you have to know the number and it doesnt keep it in memory or anything to the effect so you have to enter it time and time again. Its a Fossil man!Actually, Wells does let you store another customer's acct info; DW & I often move $ back and forth between our accounts (subject to a $1K daily limit, as you point out).