Wells Fargo-Wachovia Conversion to Complete in October

Simon Zhen

Posted on Wed Sep 28, 2011

In a few weeks, Wachovia signs will no longer have a place in the consumer banking landscape as the Wells Fargo conversion nears completion.

The day when all Wachovia customers will become Wells Fargo (NYSE: WFC) customers is closing in.

On October 15, the Wachovia signs in all North Carolina branches will be replaced by Wells Fargo signs. It marks the end of the conversion of retail branches since Wachovia agreed to be acquired roughly three years ago at the height of the financial crisis that sent the U.S. economy into a recession.

The conversion of the mid-Atlantic Wachovia branches began earlier this year. Virginia was converted in August. Maryland, South Carolina, and Washington D.C. will be finishing up this month.

In Florida, 690 branches and 940 ATMs were converted in June and July.

Last Up: North Carolina

North Carolina was scheduled to be the last on the list – for sometime in October. The mid-October date is confirmed in a message from Wells Fargo’s North Carolina Regional President Stan Kelly to customers.

In his letter to North Carolina customers, Kelly writes: “Assisting you throughout the transition will be the same friendly team that you have depended on, at the locations you currently use. In almost all cases, you will be able to keep the same accounts and services.”

North Carolina customers should have received information in the mail regarding the conversion of their accounts earlier this month. For the most part, no action is required from customers, who will gain access to an expanded network of Wells Fargo locations.

The four mid-Atlantic states and Washington D.C. accounted for 868 retail branches and 1,487 ATMs from Wachovia that will carry the Wells Fargo brand.

San Francisco-based Wells Fargo entered an agreement to acquire the North Carolina-based Wachovia in October 2008. The acquisition closed in December 2008. Transition from Wachovia branches to Wells Fargo branches throughout the country began two years ago.

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