Western Union and Fifth Third Bank have announced an agreement to offer the Western Union global money-transfer service at Fifth Third’s more than 1,300 banking center locations in 12 states. The Western Union global money-transfer service, a new service offering for Fifth Third accountholders and walk-in consumers, will be available in the next several months.
“Our decision to join Western Union’s unparalleled global network supports our ongoing strategy to expand beyond traditional banking services offered at our branches, and add to our other non-traditional offerings such as pre-paid cards and the Identity Alert product,” said Mark Erhardt, senior vice president of Retail products, Fifth Third Bank. “We are pleased to provide this convenience and additional money-transfer option to our customers and the community.”
The signing of Fifth Third Bank is part of Western Union’s North America “go-to-market” strategy to enter into new classes of trade. As Western Union continues to expand its service offerings in an effort to strongly position money transfers to consumers, it seeks to tap into banking channels including: Cash-to-Cash, Account to Cash, and Account-to-Account.
Stewart A. Stockdale, executive vice president and president, The Americas, Western Union, added, “Whether it’s cash, account, or card-based, our expanding global money-movement network provides consumers more ways to move money quickly to more places worldwide than any other business.
“Western Union understands the retail banking industry and works with some of the world’s leading financial institutions; we look forward to welcoming Fifth Third to our network.”