Wells Fargo Eliminates Transfer Fees to the Philippines

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Wells Fargo Eliminates Remittance Transfer Fees To Philippines For Families And Friends Affected By Typhoon Ketsana
Wells Fargo Donates $100,000 to American Red Cross

SAN FRANCISCO — September 29, 2009

Wells Fargo & Company (NYSE: WFC) —with its remittance network member Bank of the Philippine Islands (BPI) – is temporarily eliminating all remittance transfer fees (normally $5 or $7) for customers sending money using the ExpressSend® service to friends and family in the Philippines impacted by Typhoon Ketsana (also known as Typhoon Ondoy). The fee waiver is effective September 29 through October 12, 2009.

Wells Fargo also is donating $100,000 to the American Red Cross for relief efforts.

ExpressSend customers can send up to $3,000 a day for $5 if originated from an eligible Wells Fargo account (or $7 if originated from cash). The fee will be waived September 29 through October 12, 2009. Recipients can claim their funds at more than 800 branches and 1,500 plus ATMs throughout the Philippines.


“Bank of the Philippine Islands sympathizes with and shares in the plight of the victims of Typhoon Ondoy (international name is Typhoon Ketsana),” said Teresita Tan, SVP and Group Head, Overseas Banking and Channel Services for Bank of the Philippine Islands. “With the temporary fee waiver, we encourage our Filipino kababayans overseas who wish to donate to the flood victims to remit through BPI and Wells Fargo.”

Customers can send money by calling the Wells Fargo Phone Bank at 1-800-556-0605, going online at wellsfargo.com, or by visiting a Wells Fargo banking store. Wells Fargo has the capability to serve customers in English and Tagalog.


Founded in 1851, Bank of the Philippine Islands (BPI) is the oldest bank in the Philippines. BPI is the third largest commercial bank in the country in terms of total assets with significant market share in deposits, corporate and consumer lending, and asset management and trust business. The Bank also leads in the overseas Filipino’s remittance business, finance and operating lease business, government securities dealership, securities distribution, and foreign exchange business. BPI is the recognized leader in electronic banking, having introduced most of the firsts in the industry such as the automated teller machines (ATMs), a point-of-sale debit system, kiosk banking, phone banking, internet banking, and mobile banking. It has the largest distribution network of over 800 branches and 1,500 ATMs.

BPI has the largest market capitalization in the industry and the highest credit ratings from international rating agencies.

Wells Fargo & Company is a diversified financial services company with $1.3 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores, over 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally.