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 Money may be withdrawn from any of the 20,000 PLUS Network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
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
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
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
SOURCE: U.S. Bank
CONTACT: U.S. Bank
Teri Charest, 612/303-0732
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SOURCE: U.S. Bank