The Western Union Company (NYSE:WU), a leader in global payment services, and La Banque Postale are further strengthening their cooperation in France by offering Account-Based Money Transfer (ABMT) services to all La Banque Postale accountholders.
Customers with La Banque Postale accounts will be able to conduct international money transfers through the bank's secure site (www.labanquepostale.fr) for cash payout at any of Western Union's 470,000 Agent locations located in more than 200 countries and territories. The service will go into effect on Nov. 15.
Funds transferred will be available for collection in cash within minutes. The service is offered exclusively online and will be available 24 hours a day and 7 days a week. Customers will be offered this banking service for a competitively priced fee.
This new service forms part of both companies' electronic channels strategy as they seek to offer their new and existing customers a variety of fast and secure ways to transfer money.
La Banque Postale is a major Western Union Agent in Europe and a leader in France among providers of international person-to-person money transfer services. The service meets the needs of the bank's customers and further deepens the cooperation between the bank and Western Union. This cooperation most recently resulted in the launch of a joint, co-branded bank card, first issued in April 2011, which combines the features of a traditional bank card with the benefits of a Western Union loyalty card. As of Oct. 1, approximately 64,000 cards have been issued.