The new additions include financial services providers Banco De Oro Unibank and M. Lhuillier, bringing Wells Fargos payout locations in the Philippines to a total of over 2,800 branches and 2,900 ATMs. According to Gwenn Bezard, Aite Group research director, the Philippines is the fourth largest country by inbound remittances in the world, with USD17.3 billion in remittances received in 2009.
Wells Fargo has been active in the international remittance market since 1994 when the company began offering ATM remittance account services for customers sending money to the Philippines. Wells Fargo customers can access the bank’s remittance services by signing on to Wells Fargo Online, by calling a toll-free number or by visiting a Wells Fargo store location.
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