OREANDA-NEWS. July 30, 2012. ICBC Beijing Branch opens MoneyGram remittance services in 323 outlets, said the Branch in an announcement. ICBC Beijing Branch is now the bank in Beijing with the highest number of outlets to offer the service. The new service marks a breakthrough of the Branch in the delivery of cross-border remittance service for personal customers, and a further cooperation between ICBC and MoneyGram International, a global respected remittance service company, reported the press-centre of ICBC.

MoneyGram is an international remittance service launched by MoneyGram International. MoneyGram International has a total of more than 275,000 local agents in 194 countries/territories. 323 outlets under ICBC Beijing Branch offer services for customers to send or receive remittances just using their valid identity documents.

Four main advantages of using MoneyGram remittance service: I. Fast, the payee can receive the money at the receiving country in 10 minutes after money is remitted. II. Simple steps, no need for personal customers to open bank accounts to send or receive remittances. III. Safe and reliable. All remittances sent through MoneyGram systems are transmitted under high security. IV. Fast and convenient. The service is available worldwide, customers can go to any MoneyGram local agent to send or receive remittances.

The remittance service is ideal for customers in the following situations to settle or use foreign currencies: Make payment in foreign currencies to a person outside China, but no details on the payee's account. Go overseas soon, but no account is opened outside China. Go to many countries soon, not convenient to take large amount of foreign currencies.

There is a huge potential for MoneyGram remittance service as more and more Chinese are going abroad for travel, visiting relatives or employment, said an executive with the Branch. ICBC offers a full suite of safe and convenient personal banking solutions for all customers through extensive outlet network and service channels. A MoneyGram official said the company will continue working with ICBC to offer more convenient and easy-to-use international remittance service for Chinese customers in and outside China.