Wachovia Introduces New Foreign Remittance Card

'Dinero Directo' sends money to Mexico, Latin America and the Caribbean



Apr 12, 2005, 01:00 ET from Wachovia Corporation

    CHARLOTTE, N.C., April 12 /PRNewswire-FirstCall/ -- Wachovia Corporation
 (NYSE:   WB) today announced it is offering a foreign remittance product -- the
 Wachovia Dinero Directo Card -- that customers may use to send money to
 friends and family who reside in Latin America and the Caribbean as well as
 Mexico.  The card is part of Wachovia Cuenta con Todo, a new package of
 deposit products Wachovia is offering its customers.
     Customers with a Wachovia checking or savings account can fund the Dinero
 Directo foreign remittance card with money from their Wachovia accounts.  The
 recipient then may use the card at any ATM in the Visa/PLUS network, which
 consists of more than 950,000 ATMs in 160 countries.  The funds are available
 immediately, and the sender may add money to the card at any time using
 several funding methods.  Wachovia tested the card in 11 financial centers in
 Naples, Fla., and Elizabeth, N.J., prior to introducing it in phases to all
 markets as part of Wachovia Cuenta con Todo.
     "We've seen the amount of money sent from the United States to Latin
 America increase dramatically over the past several years to $36 billion,
 indicating a real need for a remittance product," said Jorge Moller, director
 of Wachovia's Hispanic Segment Strategy.  "Fifty percent of the Hispanic
 households within Wachovia's footprint are from countries other than Mexico.
 For this reason, we expanded the capabilities of our Wachovia Dinero Directo
 Card so customers can send money to friends and family throughout Latin
 American and Caribbean countries as well as Mexico -- and we're the first
 major bank to do that.  We combined this remittance product and other popular
 deposit products into one account offering, Wachovia Cuenta con Todo, to make
 it easy for customers to get the products they want in a convenient package."
     In English, Cuenta con Todo translates to "account with everything."  In
 addition to the Wachovia Dinero Directo Card, Wachovia Cuenta con Todo
 includes a free checking account, complete with a free Visa Check Card, the
 easy-to-use Visa Extras rewards program and free Online Banking with BillPay.
 A savings account, systematic saver CD, and security and identity protection
 are also part of the package.  Additional information is available on
 Wachovia's Spanish-language Web site at http://www.wachovia.com/espanol .
     "We know saving is important to our customers, so in addition to the one-
 of-a-kind free checking account, Wachovia Cuenta con Todo gives customers two
 savings options," Moller said.
     Wachovia also plans to offer Spanish-language banking statements to
 customers later this year.  All customers with existing accounts and customers
 who open new accounts will have the option to receive their banking statements
 and transaction descriptions in Spanish.
 
     About Wachovia
     Wachovia Corporation (NYSE:   WB) is one of the largest providers of
 financial services to retail, brokerage and corporate customers, with retail
 operations from Connecticut to Florida and west to Texas, and retail brokerage
 operations nationwide. Wachovia had assets of $493.3 billion, market
 capitalization of $83.5 billion and stockholders' equity of $47.3 billion at
 December 31, 2004. Its four core businesses, the General Bank, Capital
 Management, Wealth Management, and the Corporate and Investment Bank, serve
 customers primarily in 15 states and Washington, D.C. Its full-service retail
 brokerage firm, Wachovia Securities, LLC, serves clients in 49 states and five
 Latin American countries. Global services are offered through 33 international
 offices. Online banking and brokerage products and services also are available
 through Wachovia.com.
 
 

SOURCE Wachovia Corporation