Wells Fargo Matricula Account Openings Surpass Half Million Mark.

Wells Fargo & Company said that the number of accounts opened using the Mexican matricula card has surpassed a half million since it began accepting the card almost three years ago. The company said it is now opening an average of more than 700 accounts a day for Hispanics using the matricula card, a seven-fold increase over the three-year period.

“By enabling more Mexican nationals to access financial services, we’re making it easier, cheaper and more secure for them to manage their money,” said John Stumpf, group EVP and head of Community Banking for Wells Fargo. “In addition, Wells Fargo has the largest U.S. bank managed distribution network in Mexico for remittances. Our relationships with BBVA Bancomer, HSBC Mexico and Banorte now make it possible for customers using our remittance product, the InterCuenta Express(R) account, to wire money to their families and friends via more than 4,000 banking stores and 10,700 ATMs in Mexico.”

“Wells Fargo is clearly on the cutting edge of servicing the Latino community,” said Dr. Fernando J. Guerra, director of the Center for the Study of Los Angeles at Loyola Marymount University. “Companies like Wells Fargo that have strong links to the community and provide good service are always in the lead with the appropriate response. Wells Fargo is instrumental in helping to incorporate Latinos and secure their future.”

The Mexican government issues matricula consular cards containing many security features, such as a digitalized photo and hologram, to Mexican nationals at its Mexican Consulate offices throughout the United States and requires applicants to provide proof they are residing within the jurisdiction of the Consulate office as well as proof of identity. Today, more than 350 financial institutions across the country accept the matricula card along with hundreds of police departments, cities, counties, health care insurers, airlines and retail stores.