MoneyGram and Bank of China complete 3 year expansion of services programme

Available at 10,000 plus locations across mainland China

Bank of China’s customers now have access to MoneyGram’s services at all of the bank’s 10,000 plus locations across mainland China (view press release). MoneyGram’s services were first rolled out to 240 Bank of China locations in 2009 and since then both companies have been collaborating to extend the service through the bank’s network. A Bank of China account is not required to use the MoneyGram service and transfers can be made in 10 minutes from any MoneyGram location worldwide. The sender also has the option to transfer the funds in USD, GBP or EUR depending on the Bank of China branch location and availability of currency at the time.

There is a high demand for money transfer services in China due the increasing number of Chinese travelling, studying, working and migrating abroad. China is the world’s second largest recipient of remittances, according to the World Bank, with USD57 billion coming into the country annually. 

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