Western Union has said that it will offer Account-Based Money Transfer services (ABMT) to Shanghai Pudong Development Bank (SPDBank) account holders in China and Banca Transilvania accountholders in Romania.
According to the Western Union, upon launch of the service in China, SPDBank account holders will be able to send Western Union Money Transfers directly from their accounts via online banking or their mobile phones for cash payout at Western Union agent locations in more than 200 countries and territories.
In addition, people around the world will be able to send funds directly to SPDBank accounts and the account holders will be able to access the funds via the internet, ATMs and their mobile phones.
SPDBank also will begin offering the Western Union Money Transfer service at 365 of its retail locations throughout China.
Western Union added that the online banking service is expected to be activated by mid-2011, with ATM and mobile options to follow.
The launch of service with SPDBank and Banca Transilvania, mark the first time ABMT services in both China and Romania, respectively.
Globally, 28 banks have agreed to join the Western Union electronic-channel initiative by offering Western Union ABMT Services.