ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE: WU), a leader in global payment services, announced the signing of agreements with four regional Chinese commercial banks. These agreements extend Western Union’s network reach to the northeastern, southern and eastern regions of China.
Western Union has signed agreements to offer Western Union Money Transfer® services with Bank of Jilin, headquartered in Changchun, Jilin Province; and Bank of Harbin, headquartered in Harbin and Heilongjiang Province in the northeastern region of China. Western Union also has signed agreements with Fujian Haixia Bank in the southern region and Zhejiang Chouzhou Commercial Bank in YiWu in Zhejiang Province in the eastern region of China.
“These regional city bank agent agreements are significant, as each bank is a leader within its locality and brings unique international specialization,” said Hikmet Ersek, Western Union’s chief operating officer.
In the international money-transfer business, the Bank of Jilin specializes in servicing customers based in Korea, North America and Europe; Bank of Harbin covers Russia, Korea and Japan; Fujian Haixia Bank serves the U.S. and Japan; and Zhejiang Chouzhou Commercial Bank covers Europe and the Middle East.
“These signings provide the impetus for Western Union’s regional city presence strategy in China and reinforce our commitment of being where our consumers want us to be,” Ersek said.
These new Agent banks join other current Western Union bank Agents The Postal Savings Bank of China, The Agricultural Bank of China and China Everbright Bank.
For more than 13 years, Western Union has remained committed to the China market, providing a dependable financial lifeline between consumers and their family members overseas through a fast, reliable and convenient money-transfer service.
About Bank of Jilin
Bank of Jilin, with its headquarters located in Changchun city, is a leading commercial bank in Jilin province, China. It is the former Changchun City Commercial Bank, established in 1997, and changed its name in 2007 to Bank of Jilin. Its services cover the entire province with the ability of cross-province operation. With 356 locations across Jilin province and 1 location in Dalian, Liaoning province, it offers a wide range of services to local customers.
About Harbin Bank
Harbin Bank is located in Harbin at Heilongjiang province and is an innovative national commercial bank in China. It was established in 1997 as Harbin City Commercial Bank, but changed its name to Harbin Bank in 2007. The bank has eight branches, including Tianjin Branch, Dalian Branch, Chengdu Branch, Shuangyashan Branch, Jixi Branch, Hegang Branch, Suihua Branch, Shenyang Branch, 3 rural banks, 13 first-tier branches, 4 second-tier branches, 5 institutions and 140 locations.
About Fujian Haixia Bank
Fujian Haixia Bank, formerly Fuzhou Commercial Bank, was established on 27 Dec. 1996 under the permission of Fuzhou City government and approval of People Bank of China. It is a joint stock bank with branch presence in Zhangzhou, Longyan, Ningde, 35 locations and 1 institution. The Bank is planning to set up their branch presence in Quanzhou, Wenzhou. Fujian Province is one of the provinces with diaspora and migrants going to U.S. and Japan. The personal remittances between domestic and overseas countries are very frequent in Fujian.
About Zhejiang Chouzhou City Commercial Bank
Established in 1987, Zhejiang Chou Zhou City Commercial Bank is a regional commercial bank based in Yiwu, Zhejiang province, China with 25 locations, including Hangzhou, Nanjing, Fuzhou, Wenzhou, Jinhua and Lishui, etc. With the position of serving local companies and individual customers, it realizes the fast development. In both 2008 and 2009, it was placed fifth and ninth respectively in the category of “China Commercial Banks Competitive Ranking,” third and fourth respectively in the category of “Mid-size City Commercial Banks Ranking” by “The Banker.”
About Western Union The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Custom House-branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of more than 410,000 agent locations in 200 countries and territories. In 2009, The Western Union Company completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal between consumers, and 415 million business payments. For more information, visit www.westernunion.com. .
