Banking Remittance Remittances Banco G&T Continental Banco de Desarrollo Rural S.A. (Guatemala) Economics Wells Fargo Bank Banco Industrial - BI Capital Corporation Banco de los Trabajadores de Guatemala Banks Remittances increase bank Agreements Air Pack / Western Union Amador Carballido

Banco G&T and Wells Fargo Sign Alliance

The banks have announced an agreement to provide a remittance service known as ExpressSend.

Wednesday, September 28, 2011

The new service will allow Guatemalans based in the U.S. to directly deposit money into savings accounts in Guatemala using any of the six thousand Wells Fargo service points.

"Wells Fargo is already operating remittance transactions with Banco Industrial (BI) and the Rural Development Bank (Banrural) in the country.

According to Ayala, G & T could, in time, represent between 30 and 40 percent of the total volume of transactions coming into the country", writes Agustin Ortiz for Prensalibre.com

Source: prensalibre.com

Key entities

Wells Fargo Bank Banco G&T Continental Amador Carballido Banco de Desarrollo Rural S.A. (Guatemala)

Countries

Guatemala

Insight

Remittance Remittances Agreements Banking

Guatemala: Competition for Remittances

May 2012

$4.5 billion a year comes from the U.S., generating a fierce battle between 22 banks and transfer companies that compete for the market.

The stiff competition for larger pieces of the cake that makes up remittances is leading banks and financial companies to sign alliances and join forces.

Remittances to Guatemala Up in 2011

March 2011

Remittances in February 2011 reported an 11% increase over the same period of 2010.

During the first two months of 2011, remittances have increased 12.9%.

$283.8 million entered the country inJanuary 2011, a 15.1% increase over the $246.1 million recorded in the same month of 2010.

El Salvador Receives $3,286 million in Remittances

December 2011

Between January and November 2011 the country received $181.3 million more than in the same period in 2010.

A press release from the Central Reserve Bank of El Salvador (BCR) reads:

Salvadorans living abroad sent home remittances totaling U.S. $3,286.1 million accumulated between January and November 2011, more than the U.S.

Guatemala presents 2011 Trade Agenda

November 2010

Priorities include the ratification of the agreement with the EU, negotiations with Peru and homologation of the text of the treaty with Mexico.

The finance ministry presented the agenda´s to the National Council for the Promotion of Exports (CONAPEX).

The agenda also includes negotiations of a partial agreement with Ecuador as well as negotiations with Korea.

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