Western Union Signs Agreement with DriveWealth to Provide Individual Investors with Greater Access to the U.S. Stock Market

Press Release By Western Union Published OnJune 28, 2016

ENGLEWOOD, Colo.–(BUSINESS WIRE)– Western Union Business Solutions, a leader in global payment services, announces a new agreement with DriveWealth to give individual investors greater access to the U.S. stock market. The new partnership will allow individual investors to fund their DriveWealth U.S. investment accounts from their domestic or international bank accounts in many available currencies, at the touch of a button.

Individual investors will now have the option to send money through Western Union Business Solutions’ bank transfer service. This will allow investors to fund their DriveWealth account in the available currency of their choice directly from their own bank account, which will then be converted to U.S. dollars.* Through the new agreement, investors should have a reliable and efficient way to initiate electronic transfers.

“In today’s markets, investors want to access opportunities immediately and need to be able to trade instantly. Western Union Business Solutions is committed to helping its clients move money for better across the world, quickly and efficiently. This agreement will help to make the U.S. stock market more accessible to individual investors at the touch of a button, providing them with greater opportunities to grow their personal wealth,” said Kerry Agiasotis, President at Western Union Business Solutions.

“DriveWealth provides individuals around the world with unprecedented access to the U.S. stock markets. With bank transfer services provided through Western Union, we’ve made it even easier for investors to fund their accounts,” said Robert Cortright, founder and CEO of DriveWealth.

* Western Union Business Solutions makes money from currency exchange.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of March 31, 2016, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to over one billion accounts. In 2015, The Western Union Company completed 262 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 508 million business payments. For more information, visit www.westernunion.com.

About DriveWealth Holdings, Inc.

DriveWealth Holdings, Inc. is the parent company of DriveWealth Technologies, LLC and DriveWealth, LLC. DriveWealth Technologies, LLC is the technology service and financial education provider for DriveWealth, LLC. DriveWealth, LLC (www.drivewealth.com), member FINRA and SIPC, is a mobile and global full carrying broker dealer for retail investors. DriveWealth provides a low cost, easy-to-use U.S. equities investing platform to individuals worldwide.


Source: Western Union

Western Union Business Solutions

Liesl Smith, 44 (0) 20 8563 6347

Head of Global Communications