What you need to know about the Wachovia - Wells Fargo merger - NBC12 - WWBT - Richmond, VA News On Your Side

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What you need to know about the Wachovia - Wells Fargo merger

RICHMOND, VA (WWBT) - The biggest difference will simply be the name at the top of your bank statements, but there are a few smaller differences you'll see when the merger is complete next month.

The Wachovia letters on top of the James Center downtown are gone. The new Wells Fargo letters started going up today. The Wells Fargo letters on the other branches are in place, just covered, for now, by Wachovia banners.

Many Wachovia customers like Toney Byrnside say they don't expect many changes.

"I don't think much will change," Byrnside said. "Besides the name on the company."

All Wachovia customers will be grandfathered into Wells Fargo, so your accounts and fees will stay the same after the merger.

There are going to be a few changes. 

A small number of people will get new account numbers.

Wachovia says those people have already been notified and most people will keep the same account and routing numbers.

If you're currently a Wachovia customer, keep an eye out for something in the mail. You should be receiving a stack of information that should help answer some of your questions.

"We've been sending out information to customers for the past three to four weeks," said Wachovia Regional Vice President Tim Butturini.  "I just encourage them to read anything we've sent them. If they have any questions, come in to a local store and we're here to help."

You won't need a new debit card with the Wells Fargo logo.  You can also use your old Wachovia checks and deposit slips.

Many customers say they'll just have to wait and see what it's like when the merger is done August 8th.

"I'm hoping I can just go into it and say, 'OK as long as I can access my accounts and do the stuff I do, I think the rest of it will just sort itself out as we go along,'" Byrnside said.

Your bill payment schedule might change as well. 

Money is taken out of Wachovia accounts the same day bills are paid.

At Wells, money comes out of your account up to five business days before the bill is paid. 

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