SAN FRANCISCO - January 11, 2011
Wells Fargo & Company (NYSE: WFC) today announced the launch of My Money Map, a new, free interactive online tool that enables customers to quickly gain insights into managing their finances and financial future.
Wells Fargo combined several of its personal financial management tools into My Money Map, including its My Spending Report and Budget Watch and My Savings Plan®. My Money Map provides a dashboard view of a customer’s financial picture using data from a customer’s Wells Fargo accounts, including his or her Wells Fargo Credit Card, Debit Card, Checking and Savings accounts, and Bill Pay purchases. My Money Map’s intuitive “always on” interface has easy to review bar charts that show monthly spending by category, current savings and monthly spending versus budget goals. Totals are automatically updated daily.
Patrick Smith, senior vice president of Wells Fargo’s Online Financial Management, said, “In a recent survey by Kelton Research, 72 percent of consumers say they are more likely to know their weight at any given moment than how much money they have in the bank. At Wells Fargo, we’d like to change that. We all know how important it is to set financial goals – we also know that sticking to them is the hard part. My Money Map will help Wells Fargo customers not only set goals, but achieve them.
“We all make financial choices every day, and at the end of the month, those choices, big or small, will have moved us closer to our goals or held us back,” Smith said. “My Money Map is a great tool to help people track their spending, create a budget, and manage their savings more effectively by keeping their financial goals front and center. My Money Map gives customers convenience, control, simplicity and organization.”
In addition to the new My Money Map, Wells Fargo’s innovative suite of online personal financial management and mobile financial services includes:
- My Spending Report and Budget Watch: A patented, free online money management tool that categorizes transactions and enables customers to track their spending by category, so they can find ways to spend less. Also, it helps customers create a budget and monitor their progress throughout the month.
- My Savings Plan®: A free online tool that provides Wells Fargo savings account customers an easy way to save toward a goal and automatically monitor progress.
- Smarter CreditTM center: An online resource that provides information and services to help customers be smarter about credit – whether it’s establishing credit for the first time, reducing debt, getting more credit, or managing and protecting credit for the long term. An educational video series features Wells Fargo team members providing information ranging from how credits works to what lenders look for when reviewing credit applications.
- Wells Fargo MobileSM: Secure mobile account access that enables consumer and small business customers to connect to their Wells Fargo accounts through three easy ways, including text messaging (93557), mobile website (wf.com), and downloadable apps for four of today's most popular smartphones. Customers may access their financial information through Wells Fargo’s AndroidTM, BlackBerry®, iPhone™ and iPod Touch®, and Palm® mobile banking applications ("apps") to quickly log in to check their accounts, pay a bill, transfer funds between accounts or to other Wells Fargo customers, or to find the nearest Wells Fargo ATMs.
- Security/Fraud Prevention: Wells Fargo uses comprehensive controls and procedures to protect customers’ funds and information. Wells Fargo's Fraud Information Center, located on Wells Fargo’s public web site, provides fraud awareness, prevention tips, and resolution tools for all consumers to learn about fraud.
Wells Fargo’s newly launched educational video on My Money Map help consumers learn more about it. The video features My Money Map’s product manager providing information about how My Money Map works and its benefits. The video is available on Wells Fargo’s YouTube channel (http://www.youtube.com/user/wellsfargo).
About Wells Fargo Online, Mobile & Text Banking
Wells Fargo is a leading provider of online and mobile financial services for individual consumers, small and middle market businesses, and large corporations with a full range of banking, money movement, investing, asset management, and other financial and risk management products. As of Q3 2010, Wells Fargo has 17.9 million active online customers and 4.1 million active mobile customers. Global Finance Magazine ranked Wells Fargo Best Consumer Internet Bank and Best Corporate/Institutional Internet Bank in North America (November 2010). Wells Fargo won the 2010 Future Mobile Award from Juniper Research (August 2010). Wells Fargo’s mobile banking services earned a Gold ranking in the Javelin Strategy & Research “2010 Mobile Banking Scorecard” (August 2010).
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 10,000 banking 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.