Since January, consumers in China are able to receive remittances through the Western Union Money Transfer service from abroad in minutes at select Bank of China branches and sub-branches throughout the country.
Western Union’s cash-payout services to friends and families in China may be arranged
at nearly 500,000 locations in 200 countries and territories, including more than 8,300 locations in the UK. Consumers in the UK may also send money online or through online banking.
In addition, Bank of China and Western Union will soon expand their collaboration to enable BOC customers to receive remittances directly into their online-banking enabled Bank of China accounts and to be picked up at selected Bank of China self-service kiosks.
“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,” comments Mr Zhu Shumin, Executive Vice President of Bank of China.
“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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