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

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.

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