MoneyGram has renewed its relationship with Minnesota's Bremer Bank to assist with its check services.
As part of the deal MoneyGram, will provide Bremer's customers with online checking. MoneyGram has provided checking support to Bremer since 1995. The $9.8 billion-asset bank has 98 locations across Minnesota, North Dakota and Wisconsin.
Bank partnerships are valuable to traditional payment services like MoneyGram, as digital-first startups increasingly threaten their business. MoneyGram has been rumored as an acquisition target of rival Western Union, which has denied these reports.
"We are pleased with Bremer Bank's continued confidence in MoneyGram's official check outsourcing service," Pete Ohser, MoneyGram's executive vice president for business development, said in a May 12 press release. "MoneyGram will continue to provide the bank with seamless official check services that our mutual customers rely on for their daily financial needs."