The creation of a new product-the Armenian ATM Remittance Account-which will make sending money to relatives and friends in Armenia easier–Wells Fargo Bank announced last week.
Wells Fargo is the first bank in the United States to offer this service–which will allow for electronic money transfers from any branch or ATM in its 10-state Western territory.
"Armenia’s are among the largest remitters of money back to their home country," said David Zuercher–executive vice president of Wells Fargo Express ATM.
Customers can use any ATM to transfer money–or can also take advantage of the feature by calling Wells Fargo’s 24-hour Telephone Banking service and transferring funds from another Wells Fargo account. The funds can be withdrawn by the customer’s pre-designated beneficiary after two business days at Midland Armenia Bank’s ATMs across from Republic Square in Yerevan.
The new ATM Remittance product is being introduced to the local Armenian community through an extensive marketing outreach program. John Krikorian of the Krikorian Marketing Group–who is in charge of this outreach–noted that there was "advertising in a wide range of Armenian-language newspapers and television stations" for the project. He added that "Wells Fargo–Midland Armenia Bank and Krikorian Marketing have made a strong commitment to utilizing as many Armenian vendors as possible for this effort."
For further information or to open a Wells Fargo Armenian ATM Remittance Account–individuals can call 1-800-WELLS-REMIT– extension 350.