Money transfers

The argument that only the federal government is up to the task is misguided.

The argument that only the federal government is up to the task is misguided.

There’s a long list of reasons traditional lenders haven't kept up with the needs of entrepreneurs, says Judith Erwin, the head of Grasshopper Bank in New York. One is not asking for enough feedback.

The Federal Reserve is considering revising Regulation D, which limits consumers to six transfers per month on savings and money market accounts through certain methods.

For Western Union and MoneyGram, the threat of digital payments must be transformed into an opportunity if either company is to survive.

The rule requires disclosure of exact fees but institutions can estimate pricing under an exception that will expire in 2020. The CFPB is seeking comment to prepare for that deadline.

Bill.com is eliminating wire-transfer fees for businesses making electronic payments in local currencies in key global markets, as competition in the small- to midsize B2B payments sector heats up.

The European Commission says eight unnamed banks operated as a cartel in the €7 trillion eurozone government bond market; authorities detected a 150-foot tunnel leading to a JPMorgan Chase branch in Florida.

Whether it's the OCC's special-purpose charter, ILCs or some other option, observers see fintechs being able to obtain banking powers.

Think of Western Union, and its yellow placard advertising an agent location comes to mind. It's a physical branding and marketing component that few money-transfer providers can match — but one that's of diminishing value in a digital world.

Western Union and Amazon are collaborating to bring the e-commerce giant's services to consumers who may not currently have access to online shopping or those who prefer not to make digital payments.

Before the rule was issued, banks and money transfer companies acknowledged that better disclosures and other steps were necessary in light of higher costs for international money transfers.

Western Union plans to begin soliciting potential suitors within weeks. No decision has been made and Western Union may decide to keep the business.

The change in store card branding would be a big blow to Synchrony; “equivalence” with EU rules “falls far short” of U.S. banks’ hopes.

Denizen is designed for expats and migrants to receive money and make payments without international transfer fees or currency exchanges.

When American Express debuted its Bluebird prepaid card in Walmart stores nearly five years ago, it was a sharp detour from the card brand's status as a product for the elite. But rather than bridge these two worlds, the Bluebird card has kept its market walled off.

U.K.-based TransferWise has enabled online customer verification at its new Asia Pacific base in Singapore, so users need not visit an office to set up an account with TransferWise's cross-border funds-transfer service.

Walmart adjusted two of its long-standing, in-house offerings this week, saying it was lowering the rates for its domestic Walmart2Walmart money transfer service and adding a digital money transfer service with Bluebird2Walmart.

Ant references data breaches connected to Euronet and warns of job losses if the European company were to acquire MoneyGram.

The retailer is set to announce Tuesday that it is updating its app to allow its customers to input money transfer information electronically rather than having to fill out paperwork in the store.