Effective immediately, consumers in China will be able to receive remittances through the Western Union (WU) Money Transfer service from abroad in minutesi at select Bank of China branches and sub-branches throughout the countryii, the two companies announced today.
Western Union's cash-payout services to friends and families in China may be arranged at nearly 500,000 locations in 200 countries and territoriesiii, including more than 51,000 locations in the U.S. Consumers in the U.S. may also send money online, through online banking and through kiosks and ATMs.
In addition, Bank of China and Western Union will soon expand their collaboration to allow customers to direct Western Union Money Transfers into their bank accounts via online banking, or they can be received at select self-service kiosks.
Carter Hunt, Senior Vice President and General Manager for Western Union U.S., said, "Through our landmark agreement with Bank of China, consumers can enjoy unprecedented convenience when sending money to and receiving money from their friends and families. We are particularly delighted to have this new service in place for our customers in time for Chinese New Year, a time when millions of Chinese people around the world celebrate with their loved ones."
Mr Zhu Shumin, Executive Vice President of Bank of China, added, "Cross-border financial services have always been Bank of China's competitive edge and key focus. Western Union is one of the world's largest and most experienced international money transfer companies, and Bank of China is the most international and diversified Chinese commercial bank. Our cooperation will allow our joint customers to enjoy an even bigger range of remittance products, more convenience and raise our service standards. Through our collaboration, I hope that we can explore new areas of cross-border business and continually develop new products to satisfy the diverse needs of cross-border customers."
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12:02 pm Western Union announces that effective immediately, consumers in China will be able to receive remittances through the Western Union Money TransferSM service from abroad in minutes at select Bank of China branches and sub-branches Briefing.com 2 hrs 34 mins ago
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Western Union® services have been available in China since 1995. With the addition of Bank of China's branches and sub-branches, Western Union Money Transfer service will be available at over 30,000iv locations nationwide in cooperation with 15 Agents.