Western Union has struck a deal to offer its money transfer services at Fifth Third Bank's 1300 branches in 12 US states.
The agreement is part of Western Union's North America "go-to-market" strategy as it looks to take advantage of the rapidly growing remittance market. The company is expanding its offering, tapping into banking channels such as cash-to-cash, account-to-cash, and account-to-account transfers.
The services will be available to Fifth Third account holders and walk-in customers within the next few months.
Mark Erhardt, SVP, retail products, Fifth Third, says: "Our decision to join Western Union's unparalleled global network supports our ongoing strategy to expand beyond traditional banking services offered at our branches, and add to our other non-traditional offerings such as pre-paid cards and the Identity Alert product."
Stewart Stockdale, president, the Americas, Western Union, adds: "Whether it's cash, account, or card-based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide than any other business."