Banks dabble in international money transfers in Tennessee

“For Suarez, her decision comes down to avoiding perceived hassles such as more identification required by banks, and her brother having a wider choice of convenience stores, furniture stores, banks and other agent locations in San Luis Potosi, Mexico, to pick up the cash. “I already have a preferred gold card,” she said, referring to a Western Union customer loyalty program.

Suarez’s preference reflects the challenge U.S. banks face in capturing a larger share of the remittance business, which for Mexico involves people working in the United States sending $20 billion a year back home.”

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