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U.S. Bank Secure Money Transfer Now Available in All U.S. Bank Branches in 24 States

MINNEAPOLIS, Sep 8, 2003 (BUSINESS WIRE) -- U.S. Bank Secure Money Transfer, an ATM card-based international money transfer service specially designed to send money to Mexico, is now available in all U.S. Bank branches in 24 states.

U.S. Bank Secure Money Transfer allows individuals to send funds to Mexico quickly and safely. Money may be withdrawn from any of the 20,000 PLUS Network ATMs in Mexico as soon as the sender puts money into the account. Funds can be sent and received 24-hours-a-day, seven-days-a-week. Senders need not be U.S. Bank checking or savings account holders, although there are added benefits for those who have a U.S. Bank account. This service is also available for sending funds within the United States through any of the 364,000 PLUS ATMs in the United States.

The launch follows a successful pilot in three cities - Denver, Sacramento, Calif. and Madison, Wis. - where customers quickly realized that U.S. Bank Secure Money Transfer is easy, safe and affordable.

Solani Arenas of Colorado has used Secure Money Transfer several times a month since its inception. "It's good, because I can send money to Mexico when I'm at the bank making my deposits and I get the daily exchange rate offered for the Mexican Peso, and the money arrives immediately," Arenas said. Augustin Alvarado, another Secure Money Transfer client from Colorado, said, "The service is fast and convenient because they can take the money out when they want to," referring to friends and loved ones in Mexico.

Beatriz Cardoza, a banker at the U.S. Bank in Aurora, who helped Arenas and Alvarado set-up the card, believes the product is good because the recipient does not have to go to the bank or other business location, which are not always open 24-hours-a-day, plus it's secure. "ATMs are everywhere and are active 24-hour-a-day, seven-days-a-week, so it's simple and quick to get funds when needed. They can get their money at anytime, and that's important," Cardoza said.

Secure Money Transfer is $8 for U.S. Bank account holders and $10 for non-account holders. Each transfer may be up to $1,000 not to exceed $2,000 over a 30-day period. There are no monthly maintenance fees and each transfer comes with one free ATM withdrawal, one free ATM balance inquiry and two free customer service calls.

Secure Money Transfer is a safe, fast and easy alternative to existing money transfer services. To initiate a transfer, the sender simply needs to sign-up at any U.S. Bank branch. To sign-up, individuals need to present proper identification (such as a driver's license, state issued identification or Matricula Consular issued by the Mexican Consulate), the name of the individual receiving the money and funds to deposit into the Secure Money Transfer account.

The sender receives a bilingual welcome packet and the recipient in Mexico receives his or her personalized Secure Money Transfer ATM card in a Spanish welcome kit within ten business days. Once the account is set-up, senders may reload the card in person at any U.S. Bank branch. If they are a U.S. Bank deposit account holder or have a credit or debit card, they can establish an automatic recurring transfer from an existing account by calling a U.S. Bank toll-free, 24-hour, bilingual customer service center at 1-888-621-1201.

The service, which is delivered with the support of Florida-based WildCard Systems, is different than other card-based money transfer services because individuals may load money at the branch using cash, checks, credit cards, debit cards or deposits from U.S. Bank checking and savings accounts. Users are not required to have an account with U.S. Bank or any financial institution.

U.S. Bank was among the first in the nation to make advances that directly benefit the Hispanic consumer. U.S. Bank was one of the first financial institutions in America to accept the Matricula Consular as a form of identification when opening an account. Many U.S. Bank locations have bilingual signage, brochures and other material to make the banking experience more inviting to customers who prefer to do business in Spanish. U.S. Bank offers a Spanish-language Web site at usbank.com/espanol with information on core banking products and services for individuals and small businesses, complete with a branch locator that identifies where to find Spanish-speaking U.S. Bank tellers and bankers. A mortgage program tailored to the Hispanic family was recently introduced by U.S. Bank, Freddie Mac and DeOro, a Hispanic mortgage company, and a money transfer partnership with Mexico's L@Red de la Gente (The People's Network) will soon be available across the U.S. Bank footprint.

U.S. Bancorp (NYSE:USB), with assets of $195 billion, is the 8th largest financial services holding company in the United States. The company operates 2,199 banking offices and 4,575 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

SOURCE: U.S. Bank

CONTACT:          U.S. Bank
                  Teri Charest, 612/303-0732

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SOURCE: U.S. Bank

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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