CINCINNATI & DAYTON, Ohio--(BUSINESS WIRE)--March 8, 2005--U.S.
Bank has extended the availability of its MoneyGram money transfer
services by offering it in Cincinnati and Dayton in addition to
Chicago, Milwaukee, Madison, the Twin Cities, Seattle, Los Angeles and
San Diego. MoneyGram is now available in 445 locations and is on track
to be available in all 2,370 U.S. Bank offices by mid-2005.
U.S. Bank is MoneyGram's largest bank affiliate in the United
States. The two 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.
Carlos Amaya, regional Hispanic initiatives coordinator for U.S.
Bank, said, "We've seen transfers sent to 99 countries in 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, 40 percent of outbound transactions have been
sent within the United States and 23 percent of all transactions have
served consumers receiving funds inside U.S. Bank branches,
solidifying our goal to serve a variety of customers' needs."
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 Cincinnati or Dayton 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.
U.S. Bank also has 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 La 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 La Red de la
Gente locations primarily in rural Mexico. La Red de la Gente is part
of the MoneyGram network.
U.S. Bancorp (NYSE:USB), with assets of $195 billion, is the 6th
largest financial holding company in the United States. The company
operates 2,370 banking offices and 4,620 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.
Lisa H. Clark
SOURCE: U.S. Bank