Visa and ICBC launch transfer accounts service
BEIJING, Feb 04, 2010 (Xinhua via COMTEX) --
Company: Bank of China Ltd (BACHF)
Visa, and the Industrial and Commercial Bank of China (ICBC) have joined forces to launch a global accounts transfer service.
The service is expected to sharpen ICBC's competitive edge, with 70.80 million online clients ready to benefit from the service.
Data from the World Bank has shown that the total value of remittance transferred from China to abroad in 2008 reached 5.7 billion US dollars, an enormous sum due to fast development of personal and commercial travels.
Visa currently is able to provide such service to 1.7 billion cards through 50 financial institutions in 14 countries.
Online bank clients in Beijing, Shanghai and Shenzhen are currently able to enjoy the service. (Edited by Lin Fanjing, linfanjing@xinhua.org)
Copyright (C) 2010 Xinhua Economic News. All rights reserved
News Provided by COMTEX
Company: Bank of China Ltd (BACHF)
Related terms: bank, beijing, china, commercial, online, shanghai
