Regions Bank to Offer Western Union Global Money Transfer and Payment Services

by Mercator Advisory Group 0

Western Union has been working hard over the past few years to expand the distribution of their money transfer and global payment services among large banks. While many think that money transfer is primarily used among lower income segments, this is changing rapidly and banks are looking for ways to better serve the growing number of customers that have international roots. Over the past few years Western Union has signed several large banks including US Bank, Fifth Third, and Key Bank. This week, they announced an agreement with Regions Bank.

Regions Bank (NYSE: RF) and Western Union (NYSE: WU), a leader in global payment services, today announced an agreement to offer the Western Union® global money transfer service and the Western Union expedited bill pay service across 1,700 Regions Bank locations in the U.S.

Through the bank’s agreement with Western Union, Regions Bank accountholders and walk-in consumers will have the ability to send and receive domestic or international money transfers and make same-day payments conveniently and quickly to members of Western Union’s growing Biller network.

“Our expanding global money movement network provides consumers more ways to move money quickly to more destinations worldwide,” said Stewart A. Stockdale, executive vice president and president, global consumer financial services, Western Union. “Regions Bank is one of the largest full-service banking institutions in the U.S. Our agreement with Regions is part of Western Union’s continued focus on identifying and driving the development of best-in-class services to expand the company’s business to new consumer segments through Regions retail locations as well as through online channels.”

For more information read the press release at: http://www.businesswire.com/news/home/20110628005200/en/Regions-Bank-Signs-Agreement-Western-Union-Offer