SAN FRANCISCO, June 10 (UPI) -- Wells Fargo of California said Thursday it has joined HSBC Mexico to make it easier for people living in the United States to wire money to Mexico.
Wells Fargo said the partnership with the affiliate of HSBC Holdings will let customers wire money to 1,400 banking offices and 4,500 automated teller machines in Mexico.
Wells Fargo, which already has a wire transfer partnership with BBVA Bancomer, covering 1,600 branches and 3,700 ATMs in Mexico, said customers may wire up to $3,000 a day, paying Wells Fargo a $10 transfer fee, through the company's InterCuenta Express platform.
Customers may transfer money in a branch, by phone, by ATM or online.
Money transfers to Mexico can be lucrative for U.S. banks. Last year, retail customers overall wired more than $14 billion to Mexico, Wells Fargo said, citing a study by the Inter-American Dialogue.
