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MoneyGram launches cash-to-account service in China

MoneyGram International has introduced a cash-to-account service with Industrial and Commercial Bank of China (ICBC).

With the new service, consumers can now send money directly into ICBC bank accounts in China.

ICBC has locations across China and manages more than 269 million personal banking customers.

MoneyGram vice president of product management Stuart Kiefer said that launching their cash-to-account program with ICBC gives them greater reach and the ability to provide an extra level of convenience for their customers who are receiving money in China.

In addition to the US, the service of sending directly to ICBC accounts will also be available to customers in 20 other markets, including UK, Greece, Germany, Hong Kong, Australia and Japan.

MoneyGram also offers cash-to-account money transfer services at select agent locations into Poland, Mexico and the Philippines.