MoneyGram Adds China Guangfa Bank to Agent Network
Money transfer services now available at more than 130 China Guangfa Bank locations
GUANGZHOU, China--(BUSINESS WIRE)-- MoneyGram (MGI) (NYSE: MGI), a leading global money transfer company announced today that money transfer services at China Guangfa Bank (CGB), one of Chinas well-known banks, are now available at all of CGBs 132 banks across mainland China.
With this addition, MoneyGrams money transfer services will be available at more than 14,000 locations in China, strengthening MoneyGrams growing network in China.
China is one of the worlds largest remittance markets with transfers to the country primarily originating from North America and European countries, and outgoing transfers largely being sent to family and friends all over the world.
Adding China Guangfa Bank to our network in China is an important step for us as we provide more access to affordable money transfer services to those who rely on remittances for their daily needs, said Nick Cunnew, vice president for Asia Pacific, MoneyGram. Customers in all the provinces where MoneyGram services are available appreciate our ability to bring people closer through a reliable and convenient customer service.
China Guangfa Bank, founded in September 1988, is one of the earliest-incorporated joint stock commercial banks in China. CGB has 544 branches covering about 40 cities and towns in mainland China.
CGB offers a broad range of financial services including personal and corporate banking, asset management, wealth management, broker-dealer and advisory services, issuance services, and treasury services. It has more than 500 branches in mainland China, Hong Kong and Macau.
MoneyGram, a leading global money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide and bill payment services in the United States and Canada through a global network of more than 284,000 agent locationsincluding retailers, international post offices and financial institutionsin 196 countries and territories around the world. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.
Patty Sullivan / Mike Gutierrez, 214-303-9923
Source: MoneyGramCopyright Business Wire 2012