Bank of America Ends Free Money Transfers to Mexico Locations Richard Clough - OC Register
go to original March 5, 2013

Bank of America has quietly discontinued a program that allowed customers to transfer money to friends and family in Mexico for free.

The SafeSend program, started in 2003, was regarded as one of the lowest-cost options for international money transfers, also known as remittances. But the program failed to catch on in a market dominated by companies such as Western Union and MoneyGram.

"There was really limited demand for the service," said Betty Riess, a spokeswoman for Bank of America. She said customers were notified in November and SafeSend was discontinued in February.

Under the program, customers could send up to $1,500 without incurring transfer fees. Recipients could pick up the cash at more than 5,000 locations in Mexico through partner organizations such as Banco Santander.

Bank of America, one of the largest banks in Orange County by deposit market share, offers other international wire-transfer services, but they are subject to transaction fees of as much as $45.

Read the whole story at Orange County Register

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