Customers with a Wachovia checking or savings account can fund the Dinero Directo foreign remittance card with money from their accounts. The recipient then may use the card at any ATM in the Visa/PLUS network. The funds are available immediately, and the sender may add money to the card at any time using a variety of funding methods.
We’ve seen the amount of money sent from the US to Latin America increase dramatically over the past several years to $36 billion, indicating a real need for a remittance product, said Jorge Moller, director of Wachovia’s Hispanic Segment Strategy. Fifty percent of the Hispanic households within Wachovia’s footprint are from countries other than Mexico. For this reason, we expanded the capabilities of our Wachovia Dinero Directo Card.
In related developments, Wachovia has also revealed plans to offer Spanish-language banking statements to customers later this year. All customers with existing accounts and customers who open new accounts will have the option to receive their banking statements and transaction descriptions in Spanish.
