The Western Union Company (NYSE: WU), a global leader in money transfer services, and U.S. Bank, the sixth largest commercial bank in the United States and lead bank of U.S. Bancorp (NYSE: USB), announced today the rollout completion of the Western Union global money-transfer service across 2,791 U.S. Bank branch locations in 24 states.
Future plans also include expanding the Western Union global money-transfer service to U.S. Bank online consumers.
"U.S. Bank and walk-in consumers are now able to send domestic or international money transfers at U.S. Bank via Western Union for payout in 200 countries and territories," said Kevin Wright, vice president of emerging markets at U.S. Bank. "Our relationship with Western Union enables U.S. Bank to meet the unique needs of consumers and the diverse communities we serve. We see Western Union as a strategic partner as we continue to offer products and services to new and existing consumers."
The signing of U.S. Bank is an important step in Western Union's North America "go-to-market" strategy to continue its expansion into the banking channel. As Western Union expands its service offerings, in an effort to strongly position money transfers to consumers, it looks to tap into consumer banking channels including: Cash-to-Cash, Account-to-Cash, and Account-to-Account.
Carter Hunt, senior vice president strategic accounts and business development, The Americas for Western Union, added, "U.S. Bank and Western Union are brands consumers trust. Together, our businesses will now provide money transfer services to consumers, through an outstanding global network."
"For many consumers, Western Union's service represents a fast, convenient and reliable connection with family and friends. Anything that we can do to make that connection easier is an example of the tremendous value the Western Union brand adds to banked consumers."