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WFC News Achieving Savings Goals Just Became Easier with Wells Fargo's Newest Online Personal Finance Tool - ''My Savings Plan''

SAN FRANCISCO--(BUSINESS WIRE)--A new online tool introduced today by Wells Fargo & Company (NYSE: WFC) allows customers to establish savings goals and easily monitor their progress toward reaching them. “My Savings Plan” is integrated with Wells Fargo’s comprehensive suite of personal money management tools, such as the patent-pending My Spending Report which gives customers a consolidated “big-picture” view of their spending. With the hustle and bustle of the holidays officially beginning next week, both tools enable customers to more efficiently manage how they save and spend their money.

Americans are saving less – this year the Commerce Department reported that Americans’ personal savings rate in 2005 was the lowest since the Great Depression. Wells Fargo’s My Savings Plan at wellsfargo.com allows customers to more easily and automatically reach financial objectives by establishing savings goals and setting target amounts and timeframes.

“Our customers have told us that managing their finances is a complex task, especially this time of the year,” said Jim Smith, executive vice president of Wells Fargo’s Internet Channel and Products. “All the tools on wellsfargo.com allow customers to automate many tasks, making paying their bills, tracking their spending online and now achieving their savings goals easy. It’s like having a personal financial assistant at home to help customers manage their money.”

With My Savings Plan, customers establish a goal – such as a vacation, home improvement or vehicle purchase – and a target savings amount. They can set target timeframes for the goals; monitor their growth with online progress meters; and schedule automated transfers from their primary accounts to their savings accounts. Goals, amounts and timing can be edited at any time. Customers will also receive tips and guidance providing savings suggestions, relevant articles and product information – all tailored to their specific savings goal.

My Savings Plan launches at a time when Wells Fargo has 8.3 million active online customers – 60 percent of its consumer checking account holders. Many of them can apply for and receive new savings accounts online immediately, while new Wells Fargo Online customers can open an account in less than 10 minutes. “Individual savings accounts help customers stay focused on reaching their specific goals,” said Smith.

“Our objective as a company is to help our customers become financially successful,” said Karen Moore, senior vice president of Wells Fargo’s Consumer Deposits Group. “We want our customers to benefit from this disciplined savings plan and we’re helping them do that by providing the tools, advice and encouragement needed to allow them to reach their goals.”

To provide a holistic view of a customer’s financial portfolio, My Savings Plan is integrated with Wells Fargo’s suite of easy-to-use online personal finance tools including:

• My Spending Report – Wells Fargo is the first financial institution to provide customers with consolidated, big-picture personal spending reports that put card spending, credit spending, checking and bill pay into categories such as auto/gas, groceries, restaurants and more. It organizes expenses for consumers; they do not have to input personal finance data, saving time and aggravation. It also provides 16 months of history to facilitate tax planning.
• E-mail Alerts – Wells Fargo’s account-based alerts are free and convenient and are delivered to customers’ chosen email addresses or mobile devices, providing them with details about their recent account activities without having to log on to wellsfargo.com.
• Bill Pay – Wells Fargo’s industry-leading electronic bill pay and presentment allow customers to automate the management of recurring payments, as well as more easily manage their finances and record keeping. Wells Fargo’s bill pay service presents bills online for nearly 400 billers. It has the largest number of true e-bills available in one place.
• Online Statements – Online Statements include all the information customers would find on paper statements – without the paper. Customers can view, print or save their statements anytime. Statements are stored for up to seven years and are as official as those sent in the mail.

About Wells Fargo

Wells Fargo & Company is a diversified financial services company with $483 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,100 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. has the highest possible credit rating, "Aaa," from Moody's Investors Service and the highest credit rating given to a U.S. bank, "AA+," from Standard & Poor's Ratings Services.