SAN FRANCISCO, CA–(HISPANIC PR WIRE)–May 6, 2003–Wells Fargo & Company (NYSE: WFC) today announced that it has added hundreds of new companies to its roster of billers, providing customers with the flexibility and convenience to view and pay electronic bills (eBills) from multiple billers – in one secure place with one user name and password. Customers can go to one site to view and pay bills from a number of different billers at the same time – whether it’s the utility company, a department store or even the babysitter. Wells Fargo’s online bill presentment and payment services stand out because of the comprehensive features designed to make paying bills a breeze.
Wellsfargo.com’s unique capabilities include:
–E-mail alerts to notify users when a bill arrives, when a payment was sent, and if no payment is scheduled yet. No other financial institution does all three.
–Payments categorization and customized reporting to better organize finances.
–The ability to pay bills from multiple checking accounts.
–A double guarantee:
-100 percent online security guarantee for all your online transactions
-a bill payment guarantee that protects you against late fees.
An unparalleled Web collaboration tool that lets users speak to a customer service agent if they have a question about viewing and paying bills online, while sharing a real-time online banking session.
According to Jupiter Communications:
–Paying bills online is the fastest growing application on the Internet, and research shows that online bill presentment is poised to follow the same accelerated growth path.
–Jupiter forecasts that by 2006, more than half of all households will view and pay at least one bill online, as compared to 12 percent of households that did so in 2001.
–Online bill payment also represents significant time savings. The average American household spends between 2 to 4 hours every month paying bills. Switching to an online bill payment service can decrease bill management time by 60 percent.
“Managing your finances online is an excellent way to gain greater control over your expenditures,” said Avid Modjtabai, executive vice president and head of Wells Fargo’s Internet Services Group. “Receiving and paying your bills online will not only free up hours of time each month, it will also allow you to track, organize and record your expenditures. You can even set up a simple e-mail alert to remind you when your payment is due.”
Wells Fargo just received the nation’s #1 ranking of Internet banks by Gomez, the premiere Internet quality measurement firm. Wells Fargo’s industry leading bill pay and presentment service and unique chat/collaboration were critical factors in the top ranking. The Gomez ranking also reviewed overall products, pricing, customer experience, customer service and technology. In addition, just last month Wells Fargo was ranked the #2 e-commerce innovator – above all other banks – by Institutional Investor (March 2003). And Bank Monitor awarded Wells Fargo’s online Bill Pay its top “Gold” ranking (2003), one of the Internet Services most coveted honors.
CheckFree (Nasdaq: CKFR) is a major provider of e-bills and EBPP services to Wells Fargo along with other partners including Metavante and MasterCard RPPS.
ABOUT WELLS FARGO & COMPANY
Wells Fargo & Company is a diversified financial services company with $370 billion in assets, providing banking, insurance, wealth management and estate planning, investments, mortgage and consumer finance from 5,800 stores and the Internet (www.wellsfargo.com) across North America and elsewhere internationally.
Laura Piñones Wyse