MoneyGram is expanding money transfer services in China

MoneyGram International, a global money transfer company, and Bank of China, a pillar of China’s banking community and Global Fortune 500 Company, announced today about their plans to offer MoneyGram money transfer services at all 200 Bank of China locations in Beijing, going to enter to the full Bank of China network. Today the meeting of MoneyGram International executives Pamela H. Patsley, executive chairman; and Anthony Ryan, president and chief executive officer, with leaders from Bank of China took place in Beijing to discuss the common goal of bringing needed financial services to the people of China. The demand for money transfer services is driven by the growing number of Chinese studying, traveling, working and migrating abroad. The alliance between MoneyGram and the Bank of China provides customers in China with more options for safe, convenient and reliable money transfer services. To send or receive money in China, customers can walk into any MoneyGram agent location, complete a simple form and show a photo identification to transfer funds in as little as 10 minutes, subject to agent availability and hours of operation. Mr. Feiqi MEI, Deputy General Manager, of Bank of China, Beijing branches, commented the announcement: “We are pleased to launch MoneyGram money transfer services to our Bank of China locations in Beijing, bringing value to our customers, widening the array of services that we offer, and also satisfying the demand for international money transfer service within the local and overseas Chinese population.”