'Easy' expansion for BB&T

Published June 26, 2006

Forget money orders and wires. The ATM now makes foreign money transfers a snap - and a new marketing tool for BB&T Corp.

The North Carolina bank developed its "EasySend" product for foreign money transfers for Hispanic immigrants, but quickly discovered they aren't the only ones interested in sending money over the border or across the ocean.

Last week the bank said it is rolling out EasySend at all its branches and making the cash transfer free on both ends for anyone with a BB&T checking or savings account or payroll card.

It works like this: You put $25 to $1,000 in an EasySend account and the person on the other end can take it out at any Visa Plus ATM worldwide, using an ATM card and personal identification number, or PIN.

"We felt it was important to be a global player in the remittance business," said Jorge Moller, BB&T's multicultural markets manager.