hsbc-and-bocom-roll-out-remittance-partnership

HSBC and BoCom roll out remittance partnership

The partner banks launch same-day remittance services in select locations.

By Andrew Peck

September 28, 2006

HSBC has added another layer to its deepening relationship with Bank of Communications BoCom, announcing the launch of a new remittance service. From September, HSBC and BoCom will jointly launch a product known as Express Remittance, offering corporate clients favourable cut-off times on their same-day US dollar remittances.

The same-day service covers telegraphic remittances in US dollars from HSBC customers in Hong Kong to selected BoCom accounts in China. Initially, corporate accounts in several Guangzhou and Ningbo branches of BoCom will be privy to the new service, but coverage will expand to around 80 branches around China by the end of the year. It is a first for HSBC which...

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