MINNEAPOLIS, Oct 12, 2005 (BUSINESS WIRE) -- Sending money transfers just became more convenient as
U.S. Bank has made MoneyGram services available in 1,475 branches,
with plans to make it available in all of its 2,383 branches in 24
states by the end of October. U.S. Bank is MoneyGram's largest bank
affiliate in the United States, and has been a MoneyGram affiliate
since June 2004 in select test markets.
To celebrate the milestone, U.S. Bank is offering a $5 flat fee
for all MoneyGram transactions until Dec. 31, 2005. "This represents a
considerable savings opportunity for consumers," said Steve SaLoutos,
senior vice president of consumer products and services. "A consumer
sending $300 from Minneapolis to Mexico City would save 50 percent
while a consumer sending $500 from Seattle to Chicago would save more
than 80 percent off standard rates."
"We recognize the need to provide reliable, low-cost money
transfer solutions for our consumers. Bringing together these two
great brands gives consumers more convenience and value for their
remittance needs. U.S. Bank looks forward to serving consumers
immediate money transfer needs and building long-term banking
relationships with consumers over time," said Rick Hartnack, vice
chairman of consumer banking at U.S. Bank.
MoneyGram also offers an excellent exchange rate, which directly
benefits the customer. MoneyGram has more than 81,000 outlets in more
than 170 countries, including more than 6,000 outlets in Mexico alone.
Its affiliates include 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 $204 billion in assets, is the 6th
largest financial holding company in the United States. The company
operates 2,383 banking offices and 4,877 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
SOURCE: U.S. Bank
Teri Charest, 612-303-0732