MINNEAPOLIS--(BUSINESS WIRE)--Nov. 18, 2004--U.S. Bank has
extended the availability of its MoneyGram money transfer services by
offering it in Seattle and the Twin Cities (Minneapolis and St. Paul,
Minn.) in addition to Chicago, Milwaukee, Madison, Los Angeles and San
Diego. MoneyGram is now available in 372 locations and is on track to
be available in all 2,346 U.S. Bank offices by mid-2005.
U.S. Bank is MoneyGram's largest bank affiliate in the United
States. The two Minnesota-based companies announced an agreement in
June to provide international money transfer services through U.S.
Bank branch offices to make the popular service more convenient.
"We've seen transfers sent to 63 countries in just the first few
months that MoneyGram has been available at U.S. Bank, which
demonstrates the importance of the remittance business throughout the
world. Additionally, 45 percent of outbound transactions have been
sent within the United States and 30 percent of all transactions have
served consumers receiving funds inside U.S. Bank branches,
solidifying our goal to serve a variety of customers' needs," Steve
SaLoutos, senior vice president of emerging markets for U.S. Bank.
The price to send a MoneyGram transfer through U.S. Bank varies
based on the dollar amount being transferred and the destination. For
example, a $300 transfer from Minneapolis to Mexico is $9.49.
MoneyGram also offers an excellent exchange rate, which directly
benefits the customer. MoneyGram has more than 70,000 outlets in 160
countries, including more than 6,000 outlets in Mexico alone.
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.
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.
U.S. Bancorp (NYSE:USB), with $193 billion in assets, is the 6th
largest financial services holding company in the United States. The
company operates 2,346 banking offices and 4,621 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