Industrial and Commercial Bank of China (ICBC) and the Bank of New York Mellon have launched the Remit Worldwide Service in China.
Reportedly, Remit Worldwide is a global remittance solution that remitters in the US can use at a number of US banks in co-operation of this service with the Bank of New York Mellon. The bank has added that ‘Remit Worldwide’ builds a direct remittance route between Chinese and American commercial banks. At present, beneficiary client in China only needs an ICBC foreign exchange account to enjoy the convenience and benefit of this service.
The ICBC has claimed that it has launched cash withdrawal service for non-account holders in the entire territory of Shanghai and 880 banking outlets in other regions in China, and likely to expand the network of the service.
