Which U.S. banks provide cross-border remittance services?
Banking
Asked by Question Bot01/Jun/20141 answer
1 Answer
F
Faisal Khan
Answered 01/Jun/2014
Remittance is the money sent by the Diaspora or working migrants back to their native country.
So if you are asking which US bank allow for US Citizens to send money back into the US, almost all the banks, but they are usually channeled by the big banks out of New York who act as correspondents: JP Morgan Chase, Citibank, Wells-Fargo, Bank of America, BNY Mellon, etc.
If you are asking which US Banks offer remittance services to migrants of other countries inside the US, I think the answer is almost zero! No one.
They offer wire-transfer services, but remittance service as a product for a particular beneficiary country, almost no US bank offers this.
So if you are asking which US bank allow for US Citizens to send money back into the US, almost all the banks, but they are usually channeled by the big banks out of New York who act as correspondents: JP Morgan Chase, Citibank, Wells-Fargo, Bank of America, BNY Mellon, etc.
If you are asking which US Banks offer remittance services to migrants of other countries inside the US, I think the answer is almost zero! No one.
They offer wire-transfer services, but remittance service as a product for a particular beneficiary country, almost no US bank offers this.