Western Union Financial Services, Inc., a subsidiary of First Data Corp, Banco Nacional de Mexico, S.A. (Banamex) and California Commerce Bank announced that they have entered into a strategic alliance to facilitate consumer money transfers to and from Mexico, beginning July 1.
Banamex, and CCB, both subsidiaries of Grupo Financiero Banamex-Accival (Banacci), will become a principal agent in Mexico for Western Union consumer money transfers. As Mexico’s leading bank, Banamex will offer the Western Union Money Transfer(R) services at its approximately 1,300 bank branch locations beginning in July and will add to the Western Union agent network in Mexico, which currently includes more than 4,800 locations.
“We are pleased to establish this relationship with Western Union, and to offer their premium, value-added services to consumers throughout Mexico,” said Manuel Medina Mora, chief executive officer for Banacci. “The Mexican immigrant population represents the largest group of Hispanics living in the U.S. They have a growing need to send monies back home with the highest standard of convenience, safety and reliability. With this agreement, Western Union, a global leader in providing money transfer services, and Banamex, Mexico’s leader in the delivery of quality financial services, come together to offer a first-class money transfer experience between Mexico and the United States.”
“For more than a century, Western Union and Banamex each have served the Mexican market, and consumers have trusted and relied on us to handle their banking and money transfer needs,” said Charles T. Fote, president and chief operating officer for First Data Corp. “By bringing together our two powerful and recognized brands we will offer consumers tremendous peace of mind in knowing that their money transfers are being handled with the greatest speed and security.
“This association carries an even deeper significance, as Western Union and Banamex both share a strong commitment to the community,” Fote added. “Beyond providing the best in financial services, our companies support social projects that help our customers and their families in Mexico.”
In a separate release, Western Union’s sister company, Orlandi Valuta, announced a similar agreement to facilitate money transfers with Banamex and CCB.
Grupo Financiero Banamex-Accival is Mexico’s leading financial group. Following a universal banking strategy, the Group offers a variety of financial services to companies and individuals, which include commercial and investment banking, insurance, and fund management. Banamex, founded in 1884, is Mexico’s leading commercial bank in terms of equity. The Bank has an extensive distribution network of more than 1,300 branches and 3,000 ATM’s located throughout the country.
About California Commerce Bank
California Commerce Bank provides full banking services for companies and individuals that do business in Mexico and the United States. As part of Grupo Financiero Banamex-Accival, CCB is the U.S. banking arm of Banco Nacional de Mexico (Banamex), Mexico’s leading bank. As such, CCB is the gateway to and from Mexican financial markets. With over $2.1 billion in assets and advanced international information technology systems, CCB is a valued resource for customers with interests, which cross national boundaries. For more information, visit California Commerce Bank at [http://www.ccbusa.com].
About Western Union
Western Union Financial Services, Inc., a subsidiary of First Data Corporation (NYSE: FDC), is a worldwide leader in consumer money transfer services. The company provides rapid money transfer service through a global agent network. Consumers can quickly, safely and reliably transfer money at approximately 101,000 agent locations in more than 185 countries and territories using the Western Union and Orlandi Valuta money transfer networks. Famous for its pioneering telegraph service, the original Western Union dates back to 1851 and introduced electronic money transfer service in 1871. Western Union is celebrating its 150th anniversary in 2001. For more information please visit [http://www.westernunion.com].
About First Data Corp.
Atlanta-based First Data Corp. (NYSE: FDC) powers the global economy. Serving nearly 2.5 million merchant locations, more than 1,400 card issuers and millions of consumers, First Data makes it easier, faster and more secure for people and businesses to buy goods and services, using virtually any form of payment: credit, debit, stored-value card or check at the point-of-sale, over the Internet or by money transfer. For more information, please visit the company’s Web site at [http://www.firstdata.com].