Wachovia Online Banking Won’t be Effected by Fee Increase – The News of Today

#]*>#iu#]*>#iuWachovia has announced that there will be several fee changes to their banking system. These changes seem to be sweeping changes across a portion of the banking industry as Bank of America also seems to be doing a similar fee adjustments.

Here are some of the changes being made at Wachovia. Please note that none of these changes will have any effect on Wachovia online banking:

* A $2 fee will be implemented for any customers receiving paper statements in the mail with images of canceled checks. Customers can avoid these additional fees by requesting that no images be attacked to their statements, or simply using Wachovia’s online banking portal to view the checks.

* No More waived fees for customers who use other bank’s ATM machines. In the past Wachovia had waived any fees, some which can be as high as $3 per transaction, when customers used ATM machines not operated by Wachovia. “With more than 12,000 combined ATMs around the country, including about 200 in Charlotte, Wachovia believes customers can find a machine to meet their needs,” spokesman John Dunn stated.

The overall shift to online banking is one that will likely save the banks millions of dollars every year as well as take less a toll on the environment.

Wells Fargo Names Tim Sloan Chief Administrative Officer

SAN FRANCISCO, Sep 03, 2010 (BUSINESS WIRE) — Wells Fargo & Company /quotes/comstock/13*!wfc/quotes/nls/wfc (#]*>#iuWFC#]*>#iu 26.07, +0.97, +3.88%) announced today that Tim Sloan has been named the company’s chief administrative officer, a new position that reports directly to Chairman, President and Chief Executive Officer John G. Stumpf. Effective immediately, the functions of Corporate Communications, Corporate Social Responsibility, Enterprise Marketing, Government Relations and Human Resources will report to Sloan as he assumes leadership of the company’s brand, reputation management, stakeholder engagement and people development efforts.

An executive vice president of the company, Sloan has served most recently as Wells Fargo’s head of Commercial Banking, Real Estate and Specialized Financial Services. In that role, Sloan oversaw operations within the Wholesale Banking group that provided credit and non-credit products and services to more than 40,000 customers worldwide. His groups included more than 25 distinct businesses with more than $200 billion in assets, operating out of more than 440 offices in 40 states and in Asia, Canada and London. Those business lines will remain in Wholesale Banking.

“Tim has demonstrated the kind of business acumen and leadership that inspires teams to higher levels of performance,” said Stumpf. “He is a trustworthy and effective ambassador for the company, having cultivated long-term relationships with many valued clients. He listens, as well as leads, and he lives Wells Fargo’s customer-focused culture. These qualities make him the right individual to lead a more holistic approach to how we communicate our brand, engage with the communities we serve and develop our people. His selection and this reorganization fully reflect our view that Wells Fargo’s profile and opportunities, especially in light of our historic merger with Wachovia, are poised to grow.”

With more than 25 years of experience in corporate, commercial and real estate banking, Sloan assumed his current role in 2006. From 1997 until 2006, he was the group head of Specialized Financial Services. From 1994 to 1997, he was executive vice president and division manager of the Real Estate Merchant Banking division within the Capital Markets group. He joined Wells Fargo in 1987 after working three years at Continental Bank in Chicago.

Sloan serves on the boards of Overseers of the Huntington Library and the Jardin de la Infancia Charter school, and as an associate trustee of the San Marino Schools Foundation. A graduate of the University of Michigan, Sloan holds bachelor’s degrees in economics and history and an M.B.A. in finance and accounting, and serves on the university’s Ross School of Business Corporate Advisory Board. Sloan was born in Cleveland, raised in suburban Detroit and currently lives in San Marino, Calif. with his wife and three children.

Wells Fargo & Company /quotes/comstock/13*!wfc/quotes/nls/wfc (#]*>#iuWFC#]*>#iu 26.07, +0.97, +3.88%) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune’s 2009 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Photos/Multimedia Gallery Available: #]*>#iuhttp://www.businesswire.com/cgi-bin/mmg.cgi?eid=6417910&lang=en#]*>#iu

SOURCE: Wells Fargo & Company

Wells Fargo Mary Eshet, 704-383-7777 (Media) Jim Rowe, 415-396-8216 (Investors)

Copyright Business Wire 2010