UW Credit Union has chosen six high school seniors to receive $2,000 college scholarships as part of its Community Values Scholarship program.
Wells Fargo & Company expanded its “ExpressSend” remittance network through an agreement with Bancomer Transfer Services and will extend its consumer remittance payout network distribution to seven additional financial institutions. This will include partnerships with banks 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.
Visa and Bancomer Transfer Services have launched a money transfer service that will provide an additional alternative for consumers that send money from the United States to friends and family living abroad. Consumers will be able to initiate a Visa money transfer transaction at any BTS location in the United States. The Visa money transfer transaction can reach any eligible Visa account in the world, including all key remittance destination countries, including El Salvador, Brazil, China and The Philippines, with plans to extend the program to allow remittances from BTS locations to any country within the Visa network. The Latin America corridor is one of the largest money transfer markets in the world, with a total of USD $58.8 billion transferred in 2009. In 2009, BTS alone accounted for USD $10 billion in consumer funds transferred to Latin America, making BTS one of the largest processor of remittances for this region. Other large remittances markets served by BTS from the U.S. include Asia, Europe and Africa.
Bancomer has agreed to be the new receiving bank for Wells Fargo’s InterCuenta Express Mexican wire transfer service. Bancomer has more than 1,600 branches and 3,700 ATMs in Mexico. Customers can deposit funds in their InterCuenta Express account at Wells Fargo by visiting their nearest branch or by telephone, ATM or online transfer. The transfer requires the beneficiary to have a debit card account
at Bancomer to receive the transfer. The money is available to the beneficiary in Mexican pesos the following business day at any of Bancomer’s branches or at any ATM in Mexico. InterCuenta Express account requires an annual fee of $10. Customers who open an account with Wells Fargo in the United States can send up to $1,000 daily directly to their beneficiary’s bank account at Bancomer for $10.