Wells Fargo in the United States says it is working with its remittance network member bank Agricultural Bank of China to temporarily eliminate all remittance transfer fees for customers sending money using the ExpressSend service to friends and family in China impacted by the earthquake.
The offer is effective through June 30, 2008 and is expected to save most consumers up to US$10.
"Our hearts go out to all those who have been impacted by the earthquake in China," said Daniel Ayala, head of Wells Fargo's Global Remittance Services Group. "We're united in helping customers support their families and friends as they begin the recovery process."
The ExpressSend service allows Wells Fargo customers to send money to family members and friends in China with a U.S. Dollar account at the Agricultural Bank of China. Customers can send money by calling or by visiting a Wells Fargo banking store. Wells Fargo has the capability to serve customers in English, Mandarin and Cantonese Chinese. The Agricultural Bank of China has more than 10,300 branches and 17,500 ATMs throughout China.
Wells Fargo established a special relief account on behalf of the American Red Cross of the Bay Area in California titled the "American Red Cross China Earthquake Relief 2008." Those interested may go to any Wells Fargo Bank to contribute funds up to US$250 to the special account to support the disaster relief and recovery effort in China.