MoneyGram adds CI Banco to money transfer network in Mexico

128 locations around Mexico

CI Banco, a foreign currency exchange bank, is now offering MoneyGram send and receive services at its 128 locations around Mexico. The bank is now MoneyGram’s second largest send agent in the country. (view press release)

Mexico is the third largest recipient of remittances in the world, with over USD23 billion received in 2010. However, the number of foreigners in the country has also doubled during the last 10 years so the country is becoming an important market for sending money as well.

As Mexico increasingly becomes a popular destination for immigrants from South and Central America and the US, our goal is to expand MoneyGram’s send capabilities throughout the country to meet the consumer demand for money transfer services,” said MoneyGram’s regional director for Mexico, Robert Burford.

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