Wells Fargo has expanded its ExpressSend
remittance network to nine additional financial institutions and
alternative financial services companies in Guatemala, Colombia,
Ecuador, Honduras, Peru, Philippines and Vietnam, through an
agreement with UniTeller Financial Services, the US money transfer
company of Grupo Financiero Banorte.
The expansion will give
Wells Fargo 34,100 remittance payout locations in 15
countries in Latin America and Asia.
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Wells Fargo is also increasing its current
payment services in Mexico with Banorte, Mexico’s third largest
bank, which is aimed at customers of Wells Fargo being allowed to
process transactions to Banorte 24/7 and send funds to more than
1,146 Banorte branches throughout Mexico. The funds can be accessed
by Banorte customers at over 6,200 ATMs.
Executive vice president and head of Wells
Fargo’s global remittance services, Daniel Ayala, said the
“diversity of Latino and Asian customers” and “growing demand” for
Wells Fargo’s ExpressSend service is driving the remittance network
expansion efforts.
Wells Fargo has added remittance network
members G&T Continental in Guatemala, Bancolombia in Colombia,
Banco del Austro in Ecuador, Banco Atlantida and BAC | Honduras in
Honduras, Banco de Credito del Peru in Peru, Metrobank and Cebuana
Lhuillier in the Philippines, and Vietcombank in Vietnam.
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