Wells Fargo launches enhanced remittance service.

Wells Fargo & Company said that Wells Fargo ExpressSend customers with qualifying accounts now can have transaction fees discounted or waived and have more choices in how they remit money to Mexico, El Salvador, Guatemala, China, Vietnam, India and the Philippines.

“Most Latin American and Asian countries have significantly large unbanked consumer populations and eliminating the bank account requirement for the receiving country makes it much easier for recipients to get their money,” said Daniel Ayala, head of Wells Fargo’s Global Remittance Services. “Based on our tests and pilots, account-to-cash will be the preferred choice for our customers. This opens the service for use by a large number of remitters whose friends and family overseas (beneficiaries) do not have bank accounts in their home country.”