Wells Fargo Enhances Free Rapid Alerts Service for Mobile Phone Customers

Joint accountholders now can individually customize Rapid Alert options based on personal preferences

SAN FRANCISCO - September 21, 2011

Wells Fargo & Company (NYSE: WFC) has enhanced its free Rapid Alerts service for Wells Fargo Visa consumer credit cardholders, making it possible now for joint accountholders to customize Rapid Alerts options based on each accountholder’s personal preferences. Rapid Alerts allow consumers to better manage and track their consumer credit card spending while also providing them with near real-time1 detection of potentially fraudulent activity.

Rapid Alerts are triggered when the transaction meets certain criteria previously selected by the account holder and delivered via text message or e-mail. Rapid Alerts let consumers monitor their Wells Fargo Visa credit card account activity and take immediate action if they believe a potentially fraudulent transaction is taking place. Although the service is free, there may be a carrier cost associated with receiving the alert on a mobile phone, but that fee is charged by the customer’s mobile carrier.

“Our Rapid Alerts service has been extremely popular with our customers since we launched it in 2010,” said Peter Ho, product manager for Wells Fargo Card Services and Consumer Lending. “Our joint accountholders asked us to add the capability of individual preferences and we listened. We want to be our customers’ payment method of choice. Offering valuable services, such as Rapid Alerts, Mobile Banking and My Money Map, are just a few of the ways we can go above and beyond for our customers to help them succeed financially.”

Rapid Alerts messages contain the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location. Rapid Alert messages help customers track their spending and better manage their finances. With this new enhancement, customers who share an account will be able to individually choose the kinds of transactions for which they wish to receive alerts. Criteria for transaction alerts that cardholders may choose include:

  • Transactions that exceed a dollar amount chosen by the cardholder
  • Transactions initiated internationally
  • Card-not-present transactions, such as purchases made online or by telephone
  • Cash withdrawals from an ATM machine
  • Declined transactions
  • Gasoline transactions

Customers also will be alerted to Wells Fargo Visa credit card payments that are declined, which may also help remind customers of recurring payments that they forgot to update due to a reissued, lost or stolen card. Wells Fargo credit card customers can learn more and sign up for the service at wellsfargo.com/rapidalerts.

Other Wells Fargo Alerts
Wells Fargo offers many other types of account alertsthrough Wells Fargo Online® for no additional fee. With alerts, customers can monitor and control most of their finances for checking and savings accounts, credit cards, bill payments, loans, fraud prevention and more. For example, as a Wells Fargo Online banking customer, a customer can easily stay on top of his or her account transactions by receiving notices when:

  • Balances fall below a certain amount
  • A payment is due
  • A deposit posts to the account
  • An ATM or debit card transaction is made

About Wells Fargo Mobile Banking
Continuing its leadership in the mobile banking space, Wells Fargo also is currently running its Visa® (NYSE: V) microSD mobile payment pilot. This San Francisco based pilot includes 200 Wells Fargo team members who are also users of specific BlackBerry® smartphones and iPhone™ models. Wells Fargo team members participating in the pilot will be able to use their personal BlackBerry smartphone or iPhone to make payments wherever there are contactless payment readers, including fast food restaurants, taxis, sporting event concession stands and vending machines.

Wells Fargo offers three easy ways customers can bank on the go through mobile banking including mobile web (wf.com), apps, and text (to short-code 93557, which spells "Wells" on traditional telephone keypads).

About Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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 approximately 275,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

1 Subject to wireless carrier’s network coverage and other details

Lisa Westermann
(415) 222-6236