Answers for First Interstate Customers

Now that Wells Fargo & Co. has announced branch closings in Orange County in the wake of its acquisition of First Interstate Bank, here are answers to some questions that customers might have.

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Q: What happens if my branch closes? Will I have to fill out forms or stand in line to get money when I need it?

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A: Wells Fargo officials say that banking services won’t be interrupted as First Interstate customers’ accounts are converted and individual branches are closed. First Interstate ATM cards, for example, already work at Wells Fargo branches. “We’re asking First Interstate customers to continue banking as they normally would at nearby Wells Fargo branches,” a Wells Fargo spokeswoman said.

Wells Fargo’s traditional bank branches are open from 9 a.m. to 6 p.m. on weekdays and from 10 a.m. to 2 p.m. on Saturdays. Branches in supermarkets are open from 10 a.m. to 7 p.m. daily.

For more information, contact your existing branch office or call the Wells Fargo hotline at (800) 932-0132.

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Q: What about my checks and credit cards?

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A: Customers can continue to use checks and credit cards issued by First Interstate after their local First Interstate branch closes. If you’ve got 500 checks, you will be able to use them up and then order new checks from Wells Fargo. Eventually, however, customers will be asked to replace their credit cards. “We promise to make that process convenient,” the spokeswoman said.

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Q: How about loans?

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A: Wells Fargo promises to honor special promotions--home equity loans, for example--that First Interstate used to attract customers. The bank will notify customers in advance about any changes involving where to mail payments.

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Q: How do Wells Fargo’s checking accounts compare to First Interstate’s?

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A: Wells Fargo’s least expensive checking program, called Custom Access, has no fees. But customers must have paychecks directly deposited in a Wells Fargo account.

The program offers an unlimited number of checks, unlimited use of ATMs and unlimited use of the company’s automated telephone system.

But customers who use tellers for services that can be conducted by phone or the ATM are charged $5 per month.

First Interstate offers free checking accounts to customers 55 and older. Everyone else must pay $4.50 for basic checking--which includes access to unlimited ATM and teller service.

But there is a limit of eight checks per month without an extra charge.

Both banks offer less restrictive free-checking programs to customers with minimum daily balances of $750.

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Q: How do savings accounts compare?

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A: Both banks offer free regular savings accounts to customers who maintain minimum daily balances of $300. If your balance falls below that, you pay $7 per quarter--$28 a year--at First Interstate and $3 per month--or $36 annually--at Wells Fargo.

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Q: Why is Wells Fargo saying that it will have more branches down the line if it is now closing branches?

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A: Wells Fargo maintains that the number of total branches will increase as it opens more branches inside supermarkets. The San Francisco-based bank has branches in 312 grocery stores statewide that offer a full array of banking services, including ATM machines.

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Q: What are my options if my First Interstate branch closes and I don’t want to stay with Wells Fargo?

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A: The airwaves are alive with advertisements from financial institutions that hope to woo disgruntled First Interstate customers with promises of lower fees and personalized service.

Experts also advise consumers to consider credit unions, which often offer higher rates and lower service charges.