MoneyGram Announces New Agent Agreement with Qingdao Rural Commercial Bank in China

MoneyGram a transfer and payment services company, has announced that it has signed an agreement with Qingdao Rural Commercial Bank (Qingdao RCB). Based in Qingdao, one of the largest cities in the Shangdong province of China, the agreement enables convenient money transfer service access for both urban and rural Qingdao residents, and foreign expatriates sending funds back home to family in Qingdao and nearby cities. Money transfer services are now available at all 330 Qingdao RCB locations.

Mr. Liu Zong Bo, president of Qingdao Rural Commercial Bank, Mr. Liu Xing Gang, Chairman of supervisory board of Qingdao Rural Commercial Bank, Mr. Ding Ming Lai, vice president of Qingdao Rural Commercial Bank and Mr. Grant Lines, executive vice president at MoneyGram attended the official signing ceremony.

“Our agreement with Qingdao RCB is another step forward for MoneyGram in China,” said Grant Lines, executive vice president, Asia Pacific, South Asia and Middle East, MoneyGram. “Consumers in both rural and urban areas around Qingdao are now able to conveniently and quickly receive and transfer funds from friends and relatives around the world. Given the increasing need for international money transfer services for our consumers in this region, it is an area where we are happy to have an increasing footprint.”

Formed in 2012, Qingdao Rural Commercial Bank was first established in 1951 as rural credit cooperative. The company is the fastest growing financial organization in Shangdong province and is a nationally recognized brand in China.

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