28 September 2016
Business Intelligence: A Tech Revolution for the Evolution in Compliance

MoneyGram introduces Australian payout services in China

14 September 2012  |  1616 views  |  0 Source: MoneyGram

MoneyGram, (NYSE: MGI), a leading global money transfer provider, announced today that customers in China can now cash out money transfers from Australia in Australian dollars at any Bank of China (BOC), CITIC Bank or Industrial and Commercial Bank of China (ICBC) branch location.

The addition of Australian payout service, available at all 9,755 BOC; 1,858 ICBC; and 450 CITIC Bank branch locations offering MoneyGram services, are offered free of currency exchange fees for Australian customers sending money to friends and family in China since the transactions involve Australian dollars at both the sending and receiving location. CITIC Bank and BOC can also send money across the globe in Australian dollars.

For customers in Australia, MoneyGram is currently offering a $16 Australian dollar flat fee for any amount up to $10,000 US dollars from now until January 2, 2013.

"In this global environment, customers want more options for sending and receiving money," said Robert Walls, Regional Director of Australia & Oceania, MoneyGram. "We believe having more money transfer options brings our customers closer together, no matter how far away they are from each other. It's important for MoneyGram to create superior value for our customers in China and Australia, a country with nearly 320,000 Chinese immigrants."

To send money from Australia, customers can visit any MoneyGram agent location, complete a send form, and in as little as 10 minutes, subject to agent hours and availability, the funds will be available at any BOC, CITIC Bank or ICBC bank location.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit contisgroup.comFind out more

Who is commenting?

A Finextra member Finextra Member Commented on: PSD2 - opportunities,...
A Finextra member Finextra Member Commented on: R3 banks use Intel dis...

Top topics

Most viewed Most shared
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
14021 views comments | 55 tweets | 47 linkedin
Swift beware: Ripple signs banks to global payments steering groupSwift beware: Ripple signs banks to global...
8708 views comments | 32 tweets | 17 linkedin
Banks clubbing together to tackle KYCBanks clubbing together to tackle KYC
7362 views comments | 3 tweets | 8 linkedin
Brexit offers exciting opportunities for growthBrexit offers exciting opportunities for g...
7232 views comments | 4 tweets | 3 linkedin
FCA to kickstart sandbox with 24 applicantsFCA to kickstart sandbox with 24 applicant...
7175 views comments | 33 tweets | 15 linkedin

Featured job

Find your next job