Cuban network on money transfer will be expanded by Western Union
Western Union Co. plans to expand its network in Cuba now that the White House has loosened restrictions on money transfers to the island.
Douglas County-based Western Union (NYSE: WU) has provided money-transfer services from the United States to Cuba since 1999. It already has 153 agent locations in Cuba and 3,000 Cuba-enabled agent locations in the United States.
The Obama administration announced Monday it would lift restrictions on travel for people with family members in Cuba, remove limits on money transfers to relatives in Cuba, and allow U.S. telecoms and satellite radio and television providers to enter the Cuban market.