United States Hispanic Chamber of Commerce Commends Wells Fargo on a Decade of Consumer Remittances

WASHINGTON, March 1, 2013 (GLOBE NEWSWIRE) -- The United States Hispanic Chamber of Commerce (USHCC) congratulates Wells Fargo, one of our most trusted partners, on offering over ten years of remittance services.

Today, Wells Fargo offers remittance services to 14 countries, including Mexico, Guatemala, El Salvador, Honduras, Nicaragua, Dominican Republic, Bolivia, Colombia, Ecuador, Peru, the Philippines, India, Vietnam, and China. In addition, Wells Fargo has more than 39,500 payout locations worldwide.

To celebrate this milestone, between February 1 and June 30, 2013, Wells Fargo is offering new ExpressSend customers a fee waiver when they enroll in the service and make their first transfer from a Wells Fargo linked account.

"A decade ago, we recognized that with the changing demographics of our nation, there was a need to differentiate ourselves from other major banking institutions by offering relevant and useful financial services products to our diverse customers," said Daniel Ayala, head of Wells Fargo Global Remittance Services. "Many of our competitors also entered this business in 2003, yet today we are one of the few major banks in the U.S. that remains focused on this business. We are pleased with our success and continued demand we've seen form our diverse communities who have benefited from the economical, convenient and dependable way to send money to their home countries in Latin America, the Caribbean and Asia with Wells Fargo"

The Inter-American Dialogue named Wells Fargo a top ranking consumer remittance services provider. Among 37 institutions providing these services, Wells Fargo was recognized as a leader based on an evaluation of price, foreign exchange rates, convenience, distribution and quality of service.

"The USHCC congratulates Wells Fargo on its 10 year anniversary of its Global Remittances Services, as an exemplary representation of a leading, American financial institution's ability to adapt and accommodate to a diverse consumer market," said USHCC President & CEO Javier Palomarez. "The United States is by far the largest source of global remittances, with over $120 billion in recorded transfers to other countries in 2011. Mexico, Guatemala, El Salvador and Honduras ranked among the leading destinations that received remittances from the U.S. We commend Wells Fargo's business practices that continually reinforce their reputation as a leading remittance service provider to deliver affordable and inclusive products to our country's immigrants."

About the USHCC

Founded in 1979, the USHCC actively promotes the economic growth and development of Hispanic entrepreneurs and represents the interests of over 3 million Hispanic-owned businesses across the United States that contribute in excess of $465 billion to the American economy each year. It also serves as the umbrella organization for more than 200 local Hispanic chambers and business associations in the United States and Puerto Rico. For more information, visit www.ushcc.com.

CONTACT: Valentina Pereda, USHCC Communications Manager 202-735-7729 vpereda@ushcc.comSource:United States Hispanic Chamber of Commerce