Based on the terms of the agreement, the US-based lender has integrated the Western Union global money transfer capability directly into its mobile banking application.
Since 2009, US Bank has been providing WU money transfer services through its branches, and now customers can benefit from their mobile app, and, eventually, through their online banking portal.
US Bank digital money movement manager Brendan Devine said that the bank’s customers will benefit from the company’s active push into the person-to-person mobile payments space, making money transfer more convenient for customers.
The lender said that its mobile banking customers can view the WU logo in their person-to-person money transfer options now, and online banking customers will see Western Union as a funds transfer option as they upgrade to the new platform.
In order to avail the new services, users must be a customer of US Bank for at least a year and have a registered mobile phone and eligible deposit account, including checking or savings.
US Bank is a subsidiary of US Bancorp (USB), with $353bn in assets as of 30 June 2013. The company manages 3,087 banking branches in 25 states and 5,032 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services.
