SAN FRANCISCO - December 6, 2011
Wells Fargo & Company (NYSE: WFC) announced today that all deposit-taking ATMs in its network of more than 12,000 machines across the country are now entirely Envelope-Free.
“We’re thrilled to have Wells Fargo Envelope-Free ATMs stretching coast-to-coast, providing our customers with added convenience,” said Alicia Moore, head of Wells Fargo ATM Banking. “Some key benefits are they do the math, save paper, simplify the process and extend the banking day. The ATM does all the work. Our customers are thrilled by how easy it is and welcome the chance to help us reduce waste and save trees by depositing stacks of bills and checks directly into Wells Fargo’s ATM.”
Customers no longer need to write on an envelope or key-in a deposit amount. Once cash and/or checks are inserted, the machine converts the paper checks into digital images, which appear on the ATM screen and on the receipt. It also sorts and counts the bills and verifies the amount. Cash deposits are available for use immediately and check deposits made on weekdays by 9 p.m. are considered received on the same day. In many states this extends the banking day for customers by several hours, making it easier and more convenient to take care of their financial business.
Wells Fargo was the first to convert paper checks deposited at the ATM into digital images and transmit them electronically under a Federal law that allows banks to use a printed copy of the digital image of the original check. Last year Wells Fargo was also the first to begin using the new generation of mixed deposit Envelope-Free ATMs, with the ability to take cash and checks at the same time. These mixed deposit machines are now in 22 states.
Wells Fargo’s Envelope-Free ATMs have already processed over 331 million checks. Customers who have made deposits using Envelope-Free ATMs eliminated use of more than 321 million paper envelopes, which equates to conservation of 4,707 tons of paper or 32,617 trees according to estimates from the Environmental Paper Network Paper Calculator. Customers can save more paper if they choose not to print a receipt or to have it emailed to them.
All of Wells Fargo’s more than 12,000 You Know Me ATMs remember customers’ most used transactions, for faster, more convenient banking; and:
- offer email receipts to Wells Fargo Online customers;
- offer ATM Cash Tracker, where customers can establish and track their monthly withdrawal budget;
- provide eight language screen options (English, Spanish, French, Russian, Chinese, Hmong, Korean, Vietnamese);
- allow voice instructions for the visually impaired in English and Spanish;
- sell U.S. postage stamps (where available);
- deliver targeted messages to inform our customers of new products and services that can help them become more financially successful; and
- provide the highest level of transaction security.
About Wells Fargo
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 more than 270,000 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.