Wells Fargo, Cebuana Lhuillier forge alliance

MANILA, Philippines - Wells Fargo & Co. and Cebuana Lhuillier has forged a remittance alliance to extend its consumer remittance payout network in the Philippines. Money sent through the Wells Fargo ExpressSend® service can be claimed from any of the more than 1,500 Cebuana Lhuillier Pawnshop or Pera Padala branches nationwide. Wells Fargo & Co. expanded its ExpressSend remittance network through an agreement with UniTeller Financial Services, the US money transfer company of Grupo Financiero Banorte-IXE. This agreement paves the way for the extension of its consumer remittance payout network distribution to additional financial institutions and non-bank financial institutions in Guatemala, Colombia, Ecuador, Honduras, Peru, Vietnam, and the Philippines. Wells Fargo has one of the largest networks of payout locations for a US bank-managed remittance service. ExpressSend customers can send up to $1,000 a day to Cebuana Lhuillier branches for $5, if originated from an eligible Wells Fargo account (or $7, if originated from cash).