Chase has announced it will allow checking account holders in the New York City area wire money to Mexico for free, in an attempt to win more business with NYC’s fast-growing Mexican population. From their press release:
“At Chase we are committed to serving the Hispanic community by providing products and services tailored to their specific needs,” said Rebeca Vargas, head of multicultural marketing at Chase. “When customers told us that they wanted an affordable, safe and convenient way to send their hard-earned money back to loved ones in Mexico, we created Rapid Cash. Now, we are bringing it to customers in New York.”
Chase will offer 3 free transfer per month, for up to $1,500 each. The money can be picked up at any Banorte bank, for no fee.
Mexicans in the US can use Mexican matricula consular cards as a form of identification to open accounts at Chase. Good! Get a checking account! Stay away from pre-paid debit cards with tons of fees and other forms of “unbanked” evilness. —MEGHANN MARCO
Chase Unveils Rapid Cash, a Free Way to Transfer Money to Mexico (Press Release) [Business Wire]
(Photo: Meghann Marco)