Wells Fargo Celebrates International Day of Family Remittances with Fee Waiver

Company will waive remittance transfer fees to all countries, payout locations from June 16 through 18

SAN FRANCISCO--()--Wells Fargo & Company (NYSE: WFC) announced today that it will celebrate the International Day of Family Remittances (IDFR) by waiving all transfer fees for ExpressSend® remittances sent from June 16 through June 18. According to the United Nations, which sponsors IDFR, the event is aimed at recognizing the significant financial contribution migrant workers make, and encouraging organizations to collaborate to maximize the impact of these funds in the developing world. According to the World Bank, more than $134 billion in remittances were sent from the United States to other countries in 2015, representing nearly 25% of remittance volume worldwide.

We know our ExpressSend customers count on our service to send money to family and friends back home who often depend on these funds to pay for critical daily needs such as housing, groceries, education, and health care,” said Daniel Ayala, executive vice president and head of Wells Fargo's Global Remittance Services. “We’re proud to help raise awareness of the vital importance of access to consumer remittance services to millions of people around the world, and to recognize the International Day of Family Remittances by waiving our transfer fee so customers can send as much home as possible to help their family and friends.”

Wells Fargo has aligned with the International Fund for Agricultural Development (IFAD), the World Bank and the United Nations and joined their industry pledge to work together to enhance innovative financial technology, provide greater efficiency and lower the cost for a more accessible financial sector to all.

Ensuring secure, fast and affordable transfers that can leverage more opportunities and financial inclusion for remittance families is a key contribution that private companies can make,” said Adolfo Brizzi, IFAD’s director of Policy and Technical Advisory. “At IFAD we welcome and recognize institutions that are committing to these fundamental values in their economic activities.”

Wells Fargo recently added thousands of new locations to its ExpressSend remittance payout network, which allows customers to send money to more than 43,700 payout locations, along with nearly 140,000 ATMs in 13 countries – Mexico, Guatemala, El Salvador, Nicaragua, Honduras, Colombia, Ecuador, Peru, the Dominican Republic, China, India, Vietnam and the Philippines.

ExpressSend transactions can be initiated by calling Wells Fargo Global Remittance Services at 1-800-556-0605, going online at wellsfargo.com, or visiting a Wells Fargo retail banking branch. The first remittance sent under each Service Agreement must be initiated in person at a Wells Fargo branch. Customers with an existing checking or savings account may be able to initiate their first remittance by calling the Wells Fargo Phone BankSM. Subsequent remittances may be initiated at a Wells Fargo branch, calling the Wells Fargo Phone Bank, or through Wells Fargo Online® at wellsfargo.com.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.

Contacts

Wells Fargo & Company
Kris Dahl, 612-667-7271
kristopher.a.dahl@wellsfargo.com

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