Wells Fargo introduces OptRightSM Payroll Solutions with new online payroll processing for on-the-go business owners

Business owners can now manage payrolls via online, phone, fax, or email

SAN FRANCISCO - October 25, 2010

Recognizing that business owners operate in a fast-paced environment and need financial solutions that create efficiencies, Wells Fargo & Company (NYSE:WFC) today introduced a new online solution for managing payrolls targeting on-the-go business owners. Wells Fargo OptRight Payroll Solutions provides business owners with the freedom to choose how they want to manage their payroll – via online, phone, fax, or email.

Wells Fargo offers relief for the often burdensome task of payroll processing, including helping business owners navigate the complexities of payroll tax filings. Wells Fargo’s payroll service is also conveniently accessed through Wells Fargo’s Business Online Banking, where customers can access all of their accounts, including payroll.

“For over 50 years, we’ve been helping business owners process their payroll,” said Todd Reimringer, head of Wells Fargo’s Business Payroll Services. “Managing payroll can be very complex and time consuming for business owners. At Wells Fargo we can help ease the burden by removing the complexities and saving our customers time and money by handling payroll and associated tax filings.”

Wells Fargo is one of the only financial institutions with an in-house payroll service, which means customers can count on several layers of security for all of their accounts. Processing payroll in-house also means customer information is not shared with a third party and account owners can restrict access to only those who they authorize to view payroll and business data.

Business owners like Mike Sage, president of Cramer Dental Sales and a Wells Fargo customer in Plymouth, Minnesota, benefit from the time savings and convenience provided by an online payroll service.

“I have a lot of things going on during my day, so I can manage payroll when I want to or when I remember to do it – at the office, on the road or at home,” said Sage. “I like being able to log in once and have everything at my fingertips – banking accounts, credit cards and payroll.”

Online banking has become an essential financial management tool for consumers and business owners. With more than 1.7 million business online banking users, Wells Fargo continues to use the channel to provide greater convenience and flexibility for business customers.

About Wells Fargo
Wells Fargo & Company (NYSE: WFC) 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 9,000 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.

Wells Fargo is America’s #1 small business lender (2009 Community Reinvestment Act government data) and a leading lender to women- and diverse-owned businesses. Through its award-winning online advice library of business resources, including topical videos and webcasts, Wells Fargo provides business owners with timely advice and information to help them succeed financially. For more information, speak with a Wells Fargo banker, visit wellsfargo.com/biz/payroll or call the National Business Banking Center at 1-800-CALL-WELLS.