Wells Fargo & Co. has expanded the number of Mexican bank branches and automated teller machines that can receive cross-border wire transfers through a deal with Grupo Financiero Banorte of Monterrey.
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The deal was announced Tuesday.
Wells' InterCuenta Express account holders can send money to any of 4,000 branches and 10,700 ATMs, including Banorte's 1,000 branches and 2,500 ATMs. The San Francisco company's other cross-border partners are HSBC Mexico and Grupo Financiero BBVA Bancomer.
Analysts have said one of the services Mexican immigrants value is the ability to send money to family members in Mexico.
