MoneyGram is a global fast money transfer service between individuals, allowing the transfer process from sender to recipient to be completed within about ten minutes, featuring speed and convenience. MoneyGram is a remittance institution similar to Western Union. Its partners in China include: Bank of China, Industrial and Commercial Bank of China, Bank of Communications, and China CITIC Bank. China is a country with foreign exchange controls, so foreign companies remitting funds to domestic companies must have a valid reason for the transfer and cannot do so arbitrarily. Moreover, MoneyGram is generally intended for individuals only. Outbound remittances through the MoneyGram system are limited to U.S. dollars for "MoneyGram" outbound transfer services.
MoneyGram US - Fast Money Transfer Service Website
