Thread: Bank of Americ launches free remittance service to Mexico

http://charlotte.bizjournals.com/charlo ... ily34.html

Bank of America Corp. has launched a free remittance service that it says eliminates transfer fees to Mexico for millions of Latino customers.




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The new feature, called SafeSend, is available to anyone who has a personal checking account with the Charlotte-based bank (NYSE:BAC).

After introducing the product on a limited basis in Chicago this year, BofA is expanding it nationwide.

"We are proud to help millions of Hispanics send money for free to loved ones in Mexico," says Liam McGee, president of Global Consumer and Small Business Banking. "Adding the free SafeSend feature to our checking accounts is our way of saying that we want to do much more -- we want to be their bank of choice and help Hispanics develop rewarding, long-term financial relationships."

Recipients will be able to pick up cash at more than 4,500 locations in Mexico at banks such as Banorte, Banco Santander, Bansefi, L@Red de la Gente and Telecomm-Telegrafos.

Customers can identify up to three beneficiaries, send as much as $1,500 per remittance and up to $3,000 over 30 days.

BofA is marketing the nationwide launch of SafeSend with a mass media campaign that includes Spanish-language print, outdoor and television spots, as well as bilingual materials in its branches.

Meanwhile the rest of this banks customers get nickeled and dimed with atm fees and transfer fees. One thing anyone who want to fight the corporate lust for illegals is to CLOSE ALL BANK OF AMERICA ACCOUNTS!

Don't do business with a bank that is supporting illegals! I don't see them offering the waiver of transfer fees for non-latinos who want to send money to famalies within the US or to other countries other than Mexico.

I think that there is a minimum balance requirement and that the client needs to have an existing account. The Bank of America has acquired a bank a couple years ago with which I had worked to set up a similar program for the immigrants. At that time that bank had a requirement that all account holders be legal. Bank of America allows use of the Mexican matricula consular.

Mexico and why not Colombia from where my wife comes from? I am sick of Mexico and Mexicans in general! I really wonder if this is ever going to stop!

What BofA is doing is fine for legals, not illegals. When an illegal comes in to take advantage of the offering, the bank is not asking for documentation from these people for their legal status, they don't care if it means money in their pockets..everything for money..its what will do us in.

BofA is a huge Indian outsourcing corporation. From what I hear the CEO or whatnot is an H1b if I am not mistaken, but I maybe wrong.