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Western Union and Regions Bank Renew Agreement for Global Money Transfer and Payment Services
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Western Union (NYSE: WU) and Regions Bank (NYSE: RF) have extended their partnership for five more years, enabling consumers to send and receive money at over 1,250 U.S. Regions Bank locations. This renewal allows both Regions' customers and non-customers to access global money transfer and expedited bill payment services. Since 2011, over $1 billion has been transferred via this collaboration. The companies emphasize their commitment to financial inclusion and accessibility to banking services, enhancing convenience for consumers across their networks.
Positive
Five-year extension to partnership between Western Union and Regions Bank.
Over $1 billion transferred since the partnership began in 2011.
Both customers and non-customers can access money transfer services.
Focus on financial inclusion and access to banking services.
Negative
None.
Consumers can send or receive Western Union money transfers and make payments at more than 1,250 Regions Bank locations.
DENVER & BIRMINGHAM, Ala.--(BUSINESS WIRE)--
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 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.
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About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and approximately 130 currencies. We connect consumers, businesses, financial institutions, and governments through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and a substantial global network of retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $155 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at https://www.regions.com.
