Wells Fargo (NYSE:WFC)
Historical Stock Chart
6 Months : From Apr 2019 to Oct 2019
Company will waive ExpressSend® remittance
transfer fees to all countries, payout locations from June 14 through
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
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
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
Wells Fargo Bank, N.A. All rights reserved. Member FDIC.
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