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Emergency funds now available from most countries in MoneyGram network
Shanghai (Profitable.com) MoneyGram (NASDAQ:MGI), a leading global money transfer company, and CUP International, a popular Chinese credit card provider, today announced a significant expansion of their emergency cash service for China Union Pay (CUP) credit card holders that now enables account holders to access emergency funds from most countries within the MoneyGram network. Previously, the service was available in 20 countries.
This major increase in access points provides CUP credit card holders with a greater level of global support, convenience, and access to funds during an emergency. Industrial and Commercial Bank of China (ICBC), a China-based banking organization, was the first bank to offer CUP credit card holders with this emergency cash service. Now, CUP is offering its emergency cash service through other major bank partners to support its credit card customers around the globe.
“Emergency cash service is a critical value-added service that CUP credit card holders can rely on during an emergency,” said Grant Lines, senior vice president, Asia Pacific, South Asia and Middle East, MoneyGram. “During these situations, CUP credit card holders simply call the local CUP service hotline to coordinate picking up their money at a nearby MoneyGram location, whether or not they have access to their credit card. After verifying the account holder’s identification, the service has a $5,000 dollar emergency cash limit.”
The expansion represents a significant milestone for MoneyGram and CUP International, and the two companies are planning to offer this critical service to other banks in the future.
MoneyGram, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and Canada and money transfer services worldwide through a global network of more than 321,000 agent locations – including retailers, international post offices and financial institutions – in 198 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit moneygram.com or connect with us on Facebook.