Wells Fargo to Commemorate International Day of Family Remittances by Offering Zero Fee Remittances
June 12 2019 - 12:13PM
Business Wire
Company will waive ExpressSend® remittance transfer fees to all
countries, payout locations from June 14 through June 17
Wells Fargo & Company (NYSE: WFC) announced today that it
will waive all transfer fees for ExpressSend remittances from June
14 through June 17 in celebration of International Day of Family
Remittances (June 16).
The United Nations General Assembly adopted a resolution in 2018
endorsing the day to highlight the financial contributions migrant
workers make to help their families back home, including funds for
essential daily needs and the education of their children and
support for economic development in their country of origin.
According to the World Bank1, remittances to low- and middle-income
countries reached a record high in 2018 of $529 billion, an
increase of 9.6 percent from 2017. In 2019, remittances to low- and
middle-income countries are expected to become the largest source
of external financing, reaching $550 billion.
“The International Day of Family Remittances gives us a great
opportunity each year to raise awareness of the transformative
impact of remittance services in the lives of our customers’
families and friends. The money our customers send provides
essential support for family and friends in their home countries,”
said Daniel Ayala, head of Wells Fargo’s Global Remittance
Services. “Wells Fargo is honored to support a day that recognizes
the importance of convenient and safe services to transfer funds
and encourages public and private sectors to work together to
maximize the impact of these funds in developing countries.”
Wells Fargo has aligned with the United Nations and the
International Fund for Agricultural Development to enhance
innovative financial technology, and provide safe, secure and
accessible remittance services abroad.
Today, Wells Fargo customers can send money to family and
friends at more than 49,000 ExpressSend remittance payout locations
and more than 158,000 ATMs in 13 countries, including Mexico,
Guatemala, El Salvador, Honduras, Nicaragua, the Dominican
Republic, Colombia, Ecuador, Peru, China, India, the Philippines,
and Vietnam.
After enrolling in the ExpressSend service and initiating the
first remittance at a Wells Fargo branch, customers can send
subsequent remittances by calling Wells Fargo Global Remittance
Services at 1-800-556-0605, through Wells Fargo Online® at
wellsfargo.com, or by visiting a Wells Fargo retail banking branch.
Customers with an existing checking or savings account may be able
to complete their first remittance by calling the Wells Fargo Phone
BankSM, subject to caller authentication requirements and
additional fraud prevention controls. All ExpressSend transfer fees
initiated from 12:00 midnight Central Time, Friday June 14, through
11:59 p.m. Central Time on Monday, June 17 will automatically be
waived.
1The World Bank. (2019) Record High Remittances Sent Globally in
2018.
https://www.worldbank.org/en/news/press-release/2019/04/08/record-high-remittances-sent-globally-in-20182The
credit to account or the cash pick-up delivery methods for
Remittances may not be available at all Remittance Network Members
or locations. When sending money to an account, we will need the
beneficiary’s qualifying deposit account number at the Remittance
Network Member. The beneficiary’s name on cash pick-up delivery
transactions must exactly match the beneficiary’s name on their
state issued identification card.3In addition to the transfer fee,
Wells Fargo makes money if converting U.S. dollars to a foreign
currency.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified,
community-based financial services company with $1.9 trillion in
assets. Wells Fargo’s vision is to satisfy our customers’ financial
needs and help them succeed financially. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking,
investment and mortgage products and services, as well as consumer
and commercial finance, through 7,700 locations, more than 13,000
ATMs, the internet (wellsfargo.com) and mobile banking, and has
offices in 32 countries and territories to support customers who
conduct business in the global economy. With approximately 262,000
team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 26 on
Fortune’s 2018 rankings of America’s largest corporations. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
Wells Fargo Bank, N.A. All rights reserved. Member FDIC.
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MediaStacy Kika,
213-235-6503stacy.kika@wellsfargo.com
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