New Sweep Service Helps Nevada Small Businesses Earn Money Over the Weekend

Wells Fargo Launches New Sweep Service

RENO, Nev., Jan. 22 /PRNewswire-FirstCall/ -- In an industry first, Wells
Fargo (NYSE: WFC) launched the Wells Fargo Business Weekend Sweep(R) service,
a unique FDIC-insured service for small business owners that automatically
sweeps a portion of their checking account balance into an interest-bearing
savings account over the weekend.
Each Friday, the service automatically sweeps funds exceeding $5,000 from
the customer's business checking account to the associated savings account to
earn interest and returns the funds Monday morning, while still providing
customers with 24/7 access to their balances. Interest earned on the sweep
funds is transferred back into the business checking account each month. This
service is best suited for customers with average balances above $40,000.
"While the majority of sweep products are ideal for larger businesses and
are not eligible for FDIC coverage, Wells Fargo is now helping more small
business owners maximize their funds with additional peace of mind," said Kirk
Clausen, Wells Fargo regional president in Nevada.
"Many business owners spend a great deal of time manually transferring
money between their accounts so they can earn more interest. Our Wells Fargo
Business Weekend Sweep service helps them earn interest automatically and
saves them time so they can focus on managing their businesses."
The Wells Fargo Business Weekend Sweep service is the latest innovative
service tailored to meet the needs of small business owners and offered
exclusively by Wells Fargo. In June 2007, the company launched Merchant
Checking, which combines a full-service business checking account with credit
and debit card processing.
Wells Fargo Business Weekend Sweep service is currently only available to
small business owners in California, Nevada, Texas and Washington. For more
information please visit wellsfargo.com/biz/weekendsweep.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with
$575 billion in assets, providing banking, insurance, investments, mortgage
and consumer finance through almost 6,000 stores and the internet
(wellsfargo.com) across North America and internationally. Wells Fargo Bank,
N.A. is the only bank in the U.S., and one of only two banks worldwide, to
have the highest credit rating from both Moody's Investors Service, "Aaa," and
Standard & Poor's Ratings Services, "AAA."
Providing financial products and services to more than one and a half
million businesses with annual sales up to $20 million in all 50 states,
Puerto Rico and Canada, Wells Fargo is America's #1 small business lender in
total dollar volume according to the most recent Community Reinvestment Act
(CRA data, 2006).
The #1 ranked bank lender of Small Business Administration (SBA) loans in
total dollar volume, Wells Fargo is an SBA Preferred Lender in 50 states, and
originated 4,306 loans for over $613 million in 2007. Its diverse business
services programs provide outreach and education to women, African American,
Latino, and Asian business owners about financial services. Since 1995, Wells
Fargo has loaned close to $35 billion to women and diverse business owners.
For more information, please visit http://www.wellsfargo.com/biz.
SOURCE Wells Fargo

Natalie Brown of Wells Fargo, +1-775-689-6123, Natalie.brown@wellsfargo.com