The bank will offer Western Union Money Transfer services at its branches and sub-branches throughout mainland China. The services, to be rolled out from January 2015, are expected to allow consumers to receive international remittances at over 10,000 Bank of China locations in provinces and regions throughout mainland China.
The two companies plan to allow Bank of China customers to receive remittances directly into their online banking-enabled accounts and at selected self-service kiosks.
Western Union Business Solutions is a global financial services provider that enables companies of all sizes to send and receive international payments and manage global cash flow, creating solutions tailored to meet their individual needs. It is a business unit of the Western Union Company, a nonbank provider of cross border payments, and operates services through locally licensed affiliates in over 30 countries.
Bank of China is a state-owned commercial bank in the Peoples Republic of China. It was founded in 1912 by the Republican government to replace the Imperial Bank of China.
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