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Wells Fargo ATMs go Paperless, Make Deposits Faster and Easier


Envelope-free technology converts checks, cash deposits into digital images on-the-spot for same-day crediting of deposits
ANCHORAGE, (August 5, 2010) – This summer, more than 50 Wells Fargo ATMs in Alaska will go paperless. The ATMs are being upgraded with the latest envelope-free hardware and technology to reduce paper waste, save customers time, improve availability of funds and reduce fraud risk when depositing checks and cash at Wells Fargo Envelope-Free ATMs. The first Envelope-Free ATM conversion in Alaska took place at Wells Fargo’s Russian Jack store in Anchorage June 29.  ATM upgrades were completed at Wells Fargo locations throughout Southcentral, Northern and Southwest Alaska in July.  Wells Fargo ATMs in Southeast Alaska will go Envelope-Free in August.  The company currently has over 6,500 Envelope-Free ATMs, which have processed more than 125 million checks to date.  According to estimates from the Environmental Defense Paper Calculator, nearly 100 million paper envelopes, which equates to 600 tons of paper or 11,681 trees, have already been saved by customers who have made deposits using Wells Fargo Envelope-Free ATMs. In addition to the envelope-free technology, Wells Fargo Online Banking customers can now have their ATM receipts emailed to them.   Wells Fargo is the first bank to offer an ATM “e-receipt” option to its customers. “This new technology will help our customers save valuable time and energy spent depositing checks and cash at our ATMs, while reducing paper waste at the same time,” said Wells Fargo Alaska Regional President Richard Strutz.  “And with the e-receipt option, our customers have the convenience of deciding how, when and where they receive their ATM receipts.  E-receipts are another way we’re helping our customers manage their money wisely using our innovative online banking services.” How Envelope-Free ATMs work Customers will not need to write on an envelope or key-in a deposit amount.  Once cash is inserted into the slot (up to 50 bills in different denominations), the machine sorts and counts the bills and verifies the amount on screen.  Customers can also deposit a stack of checks (up to 30 checks at once) into the machine and the Envelope-Free ATM converts the paper checks into digital images, which appear on the ATM screen and on the receipt. Customers can save more paper if they choose not to print a receipt or have it emailed to them. Customers using the new machines can get immediate credit for cash deposits and checks deposited on business days before 7 p.m. are considered received on the same day How to receive ATM e-receipts To begin using the new e-receipts customers with Online Banking should continue using the ATM the same way they do now. The new options are available on the receipt selection screen.  When customers visit the inbox to which they designated to have the e-receipt sent, they will see an e-mail message from Wells Fargo Online, titled “Your Wells Fargo ATM Receipt.” The e-mail message will include an electronic version of their ATM receipt. In addition, using MyATM favorite transactions, Wells Fargo customers can set e-receipts as their preferred way to receive their ATM receipts, making it a quicker and more convenient way to get their receipts via email. About Wells Fargo Wells Fargo employs 1,100 Alaskans who serve customers through a network of 70 banking, mortgage, consumer lending, insurance and investment offices, 120 ATMs and online.  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 (www.wellsfargo.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 No. 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. # # #

 


 


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