Company Website:
http://www.wellsfargo.com
SAN FRANCISCO -- (Business Wire)
Wells Fargo & Company (NYSE:WFC) is celebrating the 10 year anniversary
of its Global Remittance Services unit by offering new Wells Fargo
ExpressSend customers a fee waiver on their first transfer if they
enroll in the service and make their first transfer from a Wells Fargo
linked account between February 1 and June 30, 2013. Ten years ago,
Wells Fargo revamped its legacy remittance service to the Philippines
(service originated in 1994) by creating a new business unit in 2003
that focused on serving the needs of a growing diverse population.
Today, Wells Fargo offers remittance services to 14 countries, including
Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic,
Bolivia, Colombia, Ecuador, Peru, the Philippines, India, Vietnam, and
China and has more than 39,500 payout locations.
Daniel Ayala, head of Wells Fargo Global Remittance Services (Photo: Business Wire)
“A decade ago, our leadership team recognized that with the changing
demographics of our nation, there was a need to differentiate ourselves
from other major banking institutions by offering relevant and useful
financial services products to our diverse customers,” said Daniel
Ayala, head of Wells Fargo Global Remittance Services. “Many of our
competitors also entered this business in 2003, yet today we are one of
the few major banks in the U.S. that remains focused on this business.
We are pleased with our success and the continued demand we’ve seen from
our diverse communities who have benefited from the economical,
convenient and dependable way to send money to their home countries in
Latin America, the Caribbean and Asia with Wells Fargo.”
Wells Fargo remains committed to offering remittance services despite
pending regulations that are causing some large banking institutions and
traditional remittance companies to exit the business or reevaluate
their strategy.
Concurrently, the Inter-American Dialogue named Wells Fargo a top
ranking consumer remittance services provider. Wells Fargo tied for
first place with two other companies, out of a field of 37. This is the
only industry study focused on evaluating remittance services providers
based on price, foreign exchange rates, convenience, distribution and
quality of service.
“Wells Fargo has demonstrated a strong commitment in the remittance
market and in delivering affordable and inclusive products to migrants,”
said Dr. Manuel Orozco, Remittances and Development Program,
Inter-American Dialogue. “At ten years in the industry, it has
demonstrated that offering financial services to migrants offers
valuable returns.”
Wells FargoExpressSend
customers can send funds to their beneficiaries in most countries
through their choice of four remittance alternatives– account to
account, account to cash, cash to cash, or cash to account. The Wells
FargoExpressSend
service is available via most key customer channels including all Wells
Fargo Bank store locations, https://www.wellsfargo.com/per/intl_remittance/
and the Wells Fargo Phone BankSM at
1-800-TO-WELLS (1-800-556-0605).
About The Inter-American Dialogue
The Inter-American Dialogue is the leading U.S. center for policy
analysis, communication and exchange on Western Hemisphere affairs. The
study was prepared by Dr. Manuel Orozco, Remittances and Development
Program, Inter-American Dialogue, and the research was conducted between
April 2012 and October 2012. Dr. Orozco is the senior associate and
director of remittances
and development at the Dialogue.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.4 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 has offices in more than 35 countries to support
the bank’s customers who conduct business in the global economy. With
more than 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 26
on Fortune’s 2012 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy all our customers’ financial needs and help
them succeed financially.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20130213005444/en/
Contacts:
Media
Wells Fargo & Company
Lisa Westerman,
415-222-6236
lisa.b.westermann@wellsfargo.com
Source: Wells Fargo & Company
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