WaMu Promotes Free Outgoing Wire Transfers To Latinos
Washington Mutual is promoting its new free outgoing wire transfers to LA's Latino community. WaMu says it is "making the process of wiring money more affordable by introducing the new WaMu Free Checking account, which offers free foreign and domestic outgoing wire transfers."
Among Latinos -- nearly half of LA's population -- wire transfers are one of the most heavily used financial services. It can cost $15 to $45 to wire as little as $100 dollars to Mexico, Central and South America or Puerto Rico. And it's a fee that can add up quickly -- more than 40 percent of adult Latino immigrants in the United States regularly send money to relatives in their native countries, a flow of funds totaling nearly $40 billion(1). The free outgoing wire transfers will also help all of LA's immigrants, because the free foreign wire transfers are not limited to Latin countries.
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