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Cross-border Remittance
Home>Services & Products>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, the UAE and Kyrgyzstan. Cooperating institutions include banks like CIBC and IBK and specialized institutions like MoneyGram, XOOM, and Transferwise. Through these institutions’ offline outlets, official websites, and mobile APP, individuals outside the Chinese Mainland can easily make cross-border remittance to UnionPay cards issued by 13 banks in China, including ICBC, BOC, China Construction Bank, Bank of Communications, China Everbright Bank, and Hua Xia Bank. Domestic cardholders can get the remittance in RMB and then can make purchases or withdraw cash; they do not have to get a solution pay or settle foreign exchange.


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

 

Sending institutions that support this service are as follows:

Institution

Region

Service channels

MoneyGram

The US, Japan, 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

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
2. Mobile APP

Canadian Imperial Bank of Commerce

Canada

1. Official websites

2.Mobile App

3.ATM

4. Branch outlets

AlliedBank

The Philippines

Branch outlets

Contact

Russia

Offline outlets (including branch outlets and other cooperative outlets)

Russky Slaviansky Bank

OfflineBranch outlets

Light Bank

OfflineBranch outlets

RIB

Kyrgyzstan

Branch outlets

UAExchange

The UAE

Offline outlets (including branch outlets and other cooperative outlets)

IBK

South Korea

1.ATM

2.Branch outlets

 

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

×

Linshang Bank

×

Hunan Rural Credit Cooperative

×

Qinghai Rural Credit Cooperative

×

Guangdong Rural Credit Cooperative

×

Henan Rural Credit Cooperative

×

Note: Bank of Communications has suspended this service due to its network conditions. Please refer to the Bank’s public notice to know about what time the service will be available