MINNEAPOLIS--(BUSINESS WIRE)--Aug. 31, 2004--MoneyGram money
transfer services are now available at 185 U.S. Bank locations in
Chicago, Milwaukee, Madison, Los Angeles and San Diego as part of the
first phase installation, which will ultimately include all 2,344 U.S.
Bank offices by mid-2005.
U.S. Bank is MoneyGram's largest bank affiliate in the United
States. The two companies announced their agreement in June 2004 to
provide international money transfer services through U.S. Bank branch
offices to make the popular service more convenient.
The MoneyGram affiliation represents yet another low-cost way in
which consumers can transfer money internationally through U.S. Bank.
In 2003, U.S. Bank launched two low-cost money transfer solutions
targeted to metropolitan and rural areas of Mexico. The card-based
Secure Money Transfer product and relationship with Mexico's L@Red de
la Gente provide consumers with low cost options to send funds to more
than 20,000 ATMs generally in larger Mexican cities or 750 L@Red de la
Gente locations primarily in rural Mexico. L@Red de la Gente is part
of the MoneyGram network.
The addition of the MoneyGram network opens additional outlets in
Mexico and access to 160 other countries, including some of the most
reputable financial and retail locations in the world. MoneyGram
complements existing money transfer capabilities at U.S. Bank and
provides greater flexibility for current and prospective customers who
wish to send money safely and quickly to friends, family or associates
in all parts of the world.
"We recognize that there is a real need to provide money transfer
services, which are in high demand nationwide. By offering a safe,
secure and trusted money transfer service, we can start to build a
banking relationship with those customers so that they are poised to
make wise financial decisions and avoid costly, unsafe practices,"
said Steve SaLoutos, senior vice president of products and services at
The price to send a MoneyGram transfer through U.S. Bank will vary
based on the dollar amount being transferred and the destination. For
example, a $300 transfer from Los Angeles to Mexico is as low as
$8.54. MoneyGram also offers an excellent exchange rate, which
directly benefits the customer. MoneyGram has 70,000 outlets in more
than 160 countries, including more than 6,000 outlets in Mexico alone.
U.S. Bancorp (NYSE:USB), with $190 billion in assets, is the 6th
largest financial services holding company in the United States. The
company operates 2,344 banking offices and 4,578 ATMs in 24 states,
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 in which the company pays customers if
certain key banking benefits and services are not met. U.S. Bancorp is
the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
CONTACT: U.S. Bank
Teri Charest, 612-303-0732
SOURCE: U.S. Bank