Western Union (NYSE: WU) and Regions Bank (NYSE: RF) announced a five-year extension to their original 2011 agreement allowing consumers to use Western Union® global money transfer and expedited bill pay services to send or receive money at any of Regions Bank’s more than 1,250 U.S. locations.
The renewal means people, regardless of whether they have a Regions Bank account, can continue to send and receive domestic and international money transfers and make same-day payments conveniently and quickly at Regions Bank locations through Western Union. Since 2011, Regions’ customers and non-customers alike have sent and received over $1 billion.
“In moving money, we are creating opportunity and growth for individuals, businesses, communities and whole economies by bridging gaps within the financial services sector,” said Gabriella Fitzgerald, President, Western Union North America. “Western Union is a company that has a strong social purpose at its core, one that is shared through our work with Regions Bank.”
“For more than a decade, Western Union and Regions Bank have worked together to bring consumers a reliable channel to send money to more than 200 countries and territories,” Fitzgerald added. “Our partnership with them provides customers choice and convenience when conducting their financial business.”
Kate Danella, head of Regions’ Consumer Banking Group, said Regions’ work with Western Union is part of its commitment to financial inclusion and access to banking services throughout Regions’ branch network, which includes 15 states across the Southeast, Midwest and Texas.
Regions’ efforts to broaden access to banking include Regions’ suite of Now Banking solutions for non-accountholders plus its Bank On-certified Regions Now Checking® account with no overdraft fees. Further, Regions offers the Explore Visa® credit card and other deposit-secured lending products, affordable mortgage options requiring no down payment, and the no-cost financial wellness and budgeting tools available to everyone through the Regions Next Step® financial wellness program at Regions.com.
“Regions Bank is committed to fostering greater access to the financial system and meeting the comprehensive needs of consumers throughout the cities and towns we serve,” Danella said. “Our collaboration with Western Union has benefited people not only across our banking footprint but also around the world through essential money-transfer services. We are proud to build on our work with Western Union to ensure this financial lifeline remains in place through our convenient, accessible branch network.”
Western Union offers banks a cost-effective and reliable way to meet consumer demand to send money from bank accounts to be paid out almost anywhere in the world. The company’s cross-border, cross-currency platform and global financial network reaches 200 countries and territories worldwide, giving customers the ability to move money to the people they are closest to, virtually anywhere. Customers have the option to have their money transfers paid out in minutes across a substantial network of retail locations or into billions of bank accounts, and millions of wallets or cards worldwide.
