BANK OF AMERICA CONFIRMS THEIR COMMITMENT TO THE HISPANIC COMMUNITY IN THE...

BANK OF AMERICA CONFIRMS THEIR COMMITMENT TO THE HISPANIC COMMUNITY IN THE U.S. WITH THE CREATION OF SAFESEND, AN INTERNATIONAL REMITTANCE SERVICE USING ATMS

Bank of America has been cited in the latest edition of the study done by the Pew Hispanic Center, which offers a detailed review of remitters and their preferences in sending money. To view the study, please visit: http://www.pewhispanic.org/omdex.jsp


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Mexico, D.F.–(HISPANIC PR WIRE)–November 26, 2002–Following their tradition of providing innovative services to Hispanic communities, Bank of America launched SafeSend, its new international remittance service, today at Los Pinos. This is the result of the latest efforts of Alianza para la Prosperidad, a program that is headed by the presidency of Mexico.

Bank of America has always been a pioneer in developing innovative ways to serve diverse communities. It was the first commercial bank to introduce 300 Spanish-language ATMs in the United States, and their goal is to have 7,000 throughout the country.

“Bank of America is the first bank to offer an international ATM remittance service, that is convenient, fast, and secure”, said Herbert Perez, General Director of Bank of America Mexico, S.A. SafeSend is an international remittance service in which consumers can use the phone, the internet, and ATMs to send money to Mexico. “With SafeSend, Hispanic consumers can send money to Mexico via phone, or electronically to their loved ones in Mexico, 24 hours a day, 7 days a week, without having to leave the comfort of their home” added Perez.

In Mexico, the recipient uses a secure personal identification number (PIN) and a SafeSend ATM card to access the money within minutes at any of 20,000 ATMs in Mexico.

Bank of America is working to satisfy the needs of individuals, families, businesses and Hispanic communities, to help them achieve their dreams.” said Herbert Perez.

The launching started in the southeast of the United States, and Bank of America plans to expand these services to other countries in the near future. The program started in markets such as: California, Arizona, New Mexico and Texas. The success and recognition of the program prepared Bank of America for today’s announcement.

SafeSend is the first service that Bank of America has developed exclusively for Hispanics living in the United States, with the conception of the product created to cover their needs, and in their own language.

The only requirement to obtain a SafeSend card is the Mexican Consulate Identification Card or “Matricula Consular”. This way Hispanics can open a checking account and cash checks.

Bank of America embraces the Hispanic culture and takes pride in serving Hispanic consumers, who have an estimated buying power of $452 billion. Providing increased financial services to Hispanic consumers is a strategic business priority for the bank, which recognizes that this segment of the U.S. population has long been ignored by the financial services industry.

Bank of America has developed an aggressive multicultural marketing and service strategy, doubled its spending for each segment and is increasing its investment in multicultural resources from 10 million in 2001, to more than $40 million in 2002.

The bank shares partnership with organizations such as the National Council of La Raza, League of United Latin American Citizens and the U.S. Hispanic Chamber of Commerce.

BANK OF AMERICA CONFIRMS THEIR COMMITMENT TO THE HISPANIC COMMUNITY IN THE U.S. WITH THE CREATION OF SAFESEND, AN INTERNATIONAL REMITTANCE SERVICE USING ATMS