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  • Cross-border Remittance
    Home>Products & Services >Cross-border Remittance

    MoneyExpress is a cross-border remittance service that has been launched in 45 countries and regions including the US, Japan, Singapore, Australia, the UK, Russia, and Kyrgyzstan.20 cooperating institutions are included. Banks like CIBCKookmin Bank and specialized institutions like MoneyGram, XOOM, and Transferwise. Through these institutions’ offline outlets, official websites, and mobile APP, costoms outside Mainland China can easily make cross-border remittance to UnionPay cards issued by 17 banks in China, including ICBC, BOC, China Construction Bank, Bank of Communications, China Everbright Bank, and Hua Xia Bank. UnionPay cardholders in Mainland China can get remittance in RMB and then can make purchases or withdraw cash, and they do not have to handle the payment of remittance and foreign exchange settlement.

     

    Different from the traditional cross-border telegraphic transfer, MoneyExpress settles the exchange rate in advance and deposit the remittance into the remittee’s UnionPay account in RMB. Therefore, the payee does not need to handle the payment of remittance or pay the bank service fee; she/he can use the money directly. In general, the remittance is deposited into the payee’s account in real time or within 12 hours.

     

    Sending institutions that support this service are as follows:

    Institution

    Region

    Service channels

    MoneyGram

    The UK, Korea, Australia and other countries and regions. (For details, please refer to MoneyGram’s public notice.)

      1.Official          websites

      2.Offline outlets    (including branch    outlets and other    cooperative outlets)

    Xoom

    The US. Please refer to public notice

      1.Official websites

      2.Mobile APP

    Transferwise

    Countries and regions including the UK and France. (For details, please refer to Transferwise’s public notice.)

      1.Official websites

    Canadian Imperial Bank of Commerce

    Canada

      1.Official websites

      2.Mobile App

      3.ATM

      4.Branch outlets

    PNB

    The Philippines

      Branch outlets

    QIWI Bank

    Russia

      1.Mobile APP

    Golden Crown

      2.Official websites

    Unistream

      Offline outlets

    VRB Bank

      Branch outlets

    RIB

    Kyrgyzstan

      Branch outlets

    Mifinity

    The UK

      1.Official websites

    PaySend

      2.Mobile APP

    KB Card

    South Korea

      Mobile APP

    Kookmin Bank

      Branch outlets

    Woori Bank

    Tranglo

    Malaysia

      1.Official websites

      2.Mobile APP

    WING

    Cambodia

      Mobile App

    MoneySwap

    Hong Kong SAR

      Official websites

    Geoswift

      Official websites

    Bank of China (Hong Kong)Limited

      Mobile APP

    MoovPay

    Singapore

      Mobile APP


    Domestic receiving institutions of Mainland China that support MoneyExpress are as follows:

    Issuers

    Debit card

    Credit card

    Industrial and Commercial Bank of China Limited

    Bank of China

    China Construction Bank

    ×

    Bank of Communications

    ×

    China Everbright Bank

    ×

    Hua Xia Bank

    ×

    Harbin Bank

    ×

    Bank of Shanghai

    ×

    Fujian Rural Credit Cooperative

    ×

    Linshang Bank

    ×

    Hunan Rural Credit Cooperative

    ×

    Qinghai Rural Credit Cooperative

    ×

    Guangdong Rural Credit Cooperative

    ×

    Henan Rural Credit Cooperative

    ×

    Bank of Inner Mongolia

    ×

    Zhejiang Rural Credit Cooperative

    ×

    Wuhan Rural Commercial Bank

    ×