Better Serves Customers with Families and Friends in the Caribbean and Latin America
SAN FRANCISCO - February 16, 2012
Wells Fargo & Company (NYSE: WFC) has expanded its ExpressSend® remittance network through an agreement with Houston-based Bancomer Transfer Services. Through this agreement, Wells Fargo will extend its consumer remittance payout network distribution to seven additional financial institutions in the Dominican Republic, Ecuador, El Salvador, Mexico, Nicaragua and Peru. Wells Fargo ExpressSend customers now have 35,800 remittance payout locations to send money to 15 countries in Latin America and Asia. Within the last year alone, Wells Fargo added 8,200 payout locations, a 30 percent increase.
“The expansion of our consumer remittance network in Latin America reflects on our commitment to satisfying all of our customers financial services needs across the U.S.,” said Daniel Ayala, executive vice president and head of Wells Fargo's Global Remittance Services. “Our Hispanic customer base is made of immigrants from a number of Latin American countries. Wells Fargo wants to be the bank of choice for this increasingly important high growth consumer segment.”
“Teaming up with Wells Fargo to provide money-transfer services since 2002 represents a success story,” said Moises Jaimes, president and CEO of BBVA Bancomer USA. “As a member of the BBVA Group, our goal is to help people simplify their lives with sound, innovative financial products and services. Our joint effort allows a key group of consumers access to an array of services and channels, serving their needs and fostering their inclusion into the financial system.”
NEW NETWORK MEMBER BANKS
|Country||Network Member||Locations||Remittance currency||Available Option/Daily Transfer Limit||Transfer Fee From Account/Cash|
|Dominican Republic||Banreservas||Dominican Pesos|
|Dominican Republic||Banco del Progreso||Dominican Pesos|
|El Salvador||Sistema Fedecrédito||US Dollars|
|Nicaragua||Banco LAFISE BANCENTRO||US Dollars|
“Being able to offer additional payout locations in these countries will be of great benefit to our customers – many of which still have families in the Caribbean, Central and South America,” said Michele Lee, Wells Fargo North East Regional President. “We are proud we can offer this added value service to our customers.”
Wells Fargo provides multiple channels for transferring money, including by phone (800-556-0605 or 1-800-TO-WELLS), in store and online at wellsfargo.com– more channels than most competitors. The Wells Fargo ExpressSend customer experience is consistent among all channels – including Online, Phone Bank and in the stores.
ADDITIONAL NETWORK MEMBER BANKS/COUNTRIES
Wells Fargo offers international remittance products to the top seven countries from the U.S. Additional participating financial intuitions and merchants include:
- Argentina – BBVA Banco Francés
- Bolivia – Banco Mercantil Santa Cruz
- Colombia- Bancolombia, Banco Davivienda and BBVA Colombia
- Dominican Republic – Banco BHD
- Honduras – Banco Atlántida and BAC|Honduras
- Ecuador – Banco de Guayaquil and Banco del Austro
- Guatemala – Banco Industrial S.A., Banco de Desarrollo Rural, S.A. and G&T Continental
- Mexico – BBVA Bancomer, HSBC Mexico, Banorte, Banco Santander, Bansefi, Grupo FAMSA, SORIANA and Telecomm Telégrafos
- Nicaragua - Banpro
- El Salvador – Banco Agrícola and HSBC Banco Salvadoreño
- Peru - BBVA Banco Continental and Banco de Crédito del Peru
- Philippines - Bank of the Philippine Islands (BPI), Banco de Oro, M. Lhuillier, Metrobank and Cebuana Lhuillier.
- India – ICICI Bank
- Vietnam - Vietinbank and Vietcombank.
- China - Agricultural Bank of China (ABC)
Wells Fargo has one of the largest number of payout locations for a U.S. bank-managed remittance service, creating added convenience for its customers and their family and friends.
Wells Fargo & Company
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 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 wachovia.com), and other distribution channels across North America and internationally. With more than 270,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.
Bancomer Transfer Services (BTS)
Based in Houston, BTS is a subsidiary of BBVA Bancomer USA, which is part of the BBVA Group (NYSE: BBVA) (MAD: BBVA), a multinational financial service group that operates in more than 30 countries. BTS has provided money transfer services to Mexico since 1995 and expanded to other key Latin American markets in 2000. Today, BTS offers consumer money transfer services in 23 countries with over 28,000 payment locations. With this strong foundation BTS continues expanding the service in Europe and Asia. The strength of the BBVA global brand, along with unique and robust technology, monitoring and compliance capabilities make BTS an extremely attractive value proposition for financial institutions and customers around the world that require electronic money transfer services.
Banco del Progreso – Dominican Republic
Banco del Progreso (Banco Dominicano del Progreso, S. A., Banco Múltiple) is a multiple service company based in Santo Domingo, Dominican Republic, founded in 1974. Progreso holds DOP$29,225 millions in assets, with 54 branches and 150 ATMs, the www.progreso.com.do website and other distribution channels nationwide. As a result of a renovated corporate philosophy, the institution offers its customers financial assessment by providing personal and corporate banking products and solutions. Progreso represents American Express® in the Dominican Republic, being the exclusive issuer of American Express® Centurion Credit Cards for the entire country. In 2010 Banco del Progreso was ranked as a BBB bank with positive perspectives by Feller Rate, risk evaluators. Through all of its efforts the bank works to promote its vision: “Making the aspirations of progress for individuals and enterprises a reality, so that together we build an extraordinary future”.
Banreservas – Dominican Republic
Banco de Reservas de la República Dominicana is an institution solely owned by the Dominican State. It was established in October 1941, at present holding assets of more than US$5.2 billion. It is engaged in all major banking activities, such as loans, investments, deposits foreign exchange and credit card, being a major multiple Bank in the Dominican market with around 30% of the market. It has 208 branches and more than 7000 employees to serve its customers.
Banco LAFISE BANCENTRO – Nicaragua
Banco LAFISE – BANCENTRO SA is the most financially diversified bank in the Nicaragua, serving both consumer and business banking clients. The bank has been operating for 20 years and as of October 2011, its total assets add up to US$1,174 million, which represents 24.5 per cent of market share, the second largest in Nicaragua by asset size. The bank owns and operates over 70 branches as well as over 90 ATM units. Both, branches and ATMs, are strategically located to serve clients with greatest ease. Banco LAFISE – BANCENTRO is a leader in technological banking by providing its clients an internet platform, through which clients can satisfy most of their banking needs. For those clients that require personal service, the bank employs 1,440 team members, which are highly trained individuals to satisfactorily fulfill clients’ requests.
FEDECRÉDITO – El Salvador
FEDECRÉDITO was founded in El Salvador in 1943, the largest micro financial SYSTEM in El Salvador, composed with 48 Credit Unions and 7 Worker´s Banks, offering different financial services, billing payments and REMITTANCES, for more than 660,000 associates over the country. Our vision is to be the Entity that best fosters SISTEMA FEDECRÉDITO´s integration, development, and financial leadership. With more than 115 agencies, FEDECRÉDITO reaches every place over the country. FEDECRÉDITO is supported with a 100% Salvadorian capital with more than $1,164 Million in assets that make our SYSTEM one of the best choices for the customers.
Interbank – Peru
Interbank was incorporated on the 1st of May of 1897, and is one of the main commercial banks in Peru. It provides service banking services to over 2,540,000 active customers through a network of 235 branches, over 2000 ATM’s, and 1,806 Interbank domestic correspondent agents. Interbank is one of the most important banks in the consumer credit service thanks to its personal banking activity. Likewise, it is the lead bank in credit card services in the Peruvian financial system, with 1.3 million cards of the 3 main brands: American Express, Mastercard, and Visa.
Produbanco - Ecuador
Produbanco offers a broad spectrum of banking products and services for individuals and companies. It has over 30 years of experience in the Ecuadorian market, has a AAA- risk rating, and has received several recognitions, including four BANK OF THE YEAR IN ECUADOR awards from ”The Banker” magazine (2002,2007,2009,2010,2011). Produbanco has $2300 million dollars in assets, more than 150 Cash dispensers, and 135 branches in the country. The bank´s guiding principle is to achieve excellence in customer service while demonstrating full commitment to sustainable development and social responsibility.
Scotiabank Group - Mexico
Scotiabank Group has 177 years with the back of its Headquarter in Canada, with worldwide presence and with an experience in the financial market. Distinguished by its excellent service, Scotiabank employs 1,000 people in 711 branches and into its first subsidiary: Scotiabank Mexico, Scotia Funds, Scotia Wealth Management and Scotia Corporate Services (Before Scotia Afore). Scotiabank offers financial solutions to each stage of the life cycle of its clients, since people with saving and checking accounts and small companies. The Bank has a network of more than 1,500 ATMs plus Scotia Bank Express branch offices (The commercial concept of Scotia Bank correspondent by the Telecom Networks and more than 1,500 offices. Visit Scotiabank Mexico website: www.scotiabank.com.mx