On Tuesday Western Union, a global leader in money transfer services, signed up an agreement with U.S. Bank, the sixth largest commercial bank in the USA and lead bank of U.S. Bancorp. Under the agreement 2,791 Bank branch offices across 24 states will offer the Western UnionÂ® global money-transfer service, connecting consumers to more than 334,000 Western Union Agent locations worldwide.
As Richard Davis, chairman, president and chief executive officer of U.S. Bancorp stated, U.S. Bank is pleased to join Western Unionâ€™s global money transfer network. That is an important step for the bank as Western Union is developing and widening service offerings, in an effort to position strongly money transfers to consumers. It is tapping into consumer banking channels including: Cash-to-Cash, Account-to-Cash, and Account-to-Account. Thus the year 2008 showed that Western Union completed more than 188 million consumer-to-consumer transactions worldwide.
According to the opinion of Stewart Stockdale, executive vice president and president, The Americas for Western Union, the agreement with U.S. Bank is a part of Western Unionâ€™s new focus on identifying and driving the development of best-in-class services to expand the companyâ€™s business to new consumer segments in the USA.
The Western UnionÂ® global money-transfer service will be available at U.S. Bank locations as soon as May 2009. Walk-in consumers of the U.S. Bank will be enabled to send domestic or international money transfers for payout in any of 200 countries and territories. Western Union's also intends to expand services to U.S. Bank online consumers.