Wells Fargo Celebrates 20 Years of Remittances to Mexico

SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC) is celebrating 20 years
of serving the remittance needs of the Latino community in the U.S.
Wells Fargo initially launched the InterCuenta Express®
service in 1995, giving its customers the ability to send money to
friends and family in Mexico. In 2007, Wells Fargo launched the ExpressSend®
service, expanding its remittance payout network in Mexico to become one
of the nation’s largest bank-managed remittance payout networks.

“Our ExpressSend customers send more money to family and friends
in Mexico than to any other country,” said Daniel Ayala, head of Global
Remittance Services at Wells Fargo. “We know our customers rely on our
service because it is economical, convenient and dependable, and our
remittance network includes more than 9,300 locations in Mexico to make
it easier for their family and friends to receive their money.”

With the ExpressSend service, customers can send money at
competitive exchange rates and low transfer fees. Customers can send up
to $1,500 per day from an eligible Wells Fargo account for a $5 fee to
Mexico. Customers may also qualify for fee discounts based on their
account relationship with Wells Fargo. The company’s network of payout
locations has become one of the largest in Mexico, with more than 9,300
locations including Banco Santander, Bancomer, Banorte, Bansefi, Grupo
FAMSA, Scotiabank, SORIANA and Telecomm Telegrafos.

“Wells Fargo’s contribution in providing remittance services to millions
of immigrants in the United States is important to financial inclusion
and development,” said Manuel Orozco, Senior Director at Inter-American
Dialogue. “For two decades, Wells Fargo has now served many consumers
whose transfers represent half of their relatives’ total income. In
connecting beneficiaries to thousands of locations, this service brings
families closer to more affordable financial solutions.”

As Wells Fargo has expanded its remittance network, it has also added a
number of convenient options for ExpressSend customers to initiate
remittance transactions. ExpressSend customers can send money by calling
Wells Fargo Global Remittance Services at 1-800-556-0605, going online
at wellsfargo.com,
or visiting a Wells Fargo banking store. Wells Fargo is the only U.S.
commercial bank to offer all three channels for remitting funds. The
first remittance for a service agreement must be completed in person at
a banking store.

“Wells Fargo has been a leader in serving the financial needs of Latinos
for more than 160 years, and we’re proud to mark this anniversary, and
to continue providing this service that is so important to our Latino
customers,” said Mariela Ure, head of Hispanic Segment Strategy at Wells

In addition to Mexico, Wells Fargo’s ExpressSend network has payout
locations in 12 other countries – the Dominican Republic, El Salvador,
Guatemala, Honduras, Nicaragua, Colombia, Ecuador, Peru, China, India,
the Philippines and Vietnam. In recent years, Wells Fargo has expanded
its ExpressSend network to keep pace with the growth of the remittance
industry. The network now encompasses more than 39,000 payout locations
at 44 Remittance Network Members.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified,
community-based financial services company with $1.8 trillion in assets.
Founded in 1852 and headquartered in San Francisco, Wells Fargo provides
banking, insurance, investments, mortgage, and consumer and commercial
finance through 8,700 locations, 12,800 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 36 countries to
support customers who conduct business in the global economy. With
approximately 265,000 team members, Wells Fargo serves one in three
households in the United States. Wells Fargo & Company was ranked No. 30
on Fortune’s 2015 rankings of America’s largest corporations. Wells
Fargo’s vision is to satisfy our customers’ financial needs and help
them succeed financially. Wells Fargo perspectives are also available at Wells
Fargo Blogs
and Wells
Fargo Stories


Wells Fargo & Company
Kristopher Dahl, 612-667-7271