MoneyGram Honduras deal with Banco de Occidente

MoneyGram, a global money transfer company, and Banco de Occidente of Honduras, signed an agreement to offer international money transfer services at more than 100 of the bank's branches, increasing the total number of MoneyGram locations in Honduras to more than 1,000.

The relationship with Banco de Occidente represents more than a 10 percent increase in MoneyGram's Honduran network, which enables customers to send and receive funds in rural and urban parts throughout the country.

According to the central bank of Honduras, the remittances market grew 7.8 percent from 2011 to 2012 for funds sent from the United States into the country.

Source: 4Traders