American Express Bank connects to Eurogiro Network

Source: Eurogiro Network

American Express Bank (AEB) has agreed to connect to the Eurogiro Network, becoming the second Eurogiro member in Japan, Eurogiro announced today.

AEB said it will co-operate with the first member, Japan Post, on remittances out of Japan.

Eurogiro Managing Director Mr. Henrik Parl commented: "By connecting to the Eurogiro Network, AEB can act as gateway for other Eurogiro members into the Japanese clearing system for account transfers to third-party banks." The agreement also offers potential cost savings for AEB.

Through the Eurogiro network, AEB will have potential access to the 49 participating members – primarily, banks and postal organisations in Europe, as well as organisations in the Americas, Asia and Africa. Furthermore, Eurogiro partnerships with Western Union, Deutsche Bank, ING Bank and others facilitate virtual global coverage for both cash and account payments, Eurogiro said.

"We see this connection agreement as a key addition to our extensive array of global payment services. This new capability will give our worldwide customers another channel to facilitate remittances to and from Asia and ultimately beyond," says William J. Blomquist, AEB Vice Chairman and Head of the Financial Institutions Group.

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