Transfers Directly to Accounts at China’s Leading Banks
NEWARK, NJ–(Marketwired – July 28, 2015) – IDT Corporation (NYSE: IDT) announced today that U.S.-based customers of its Boss Revolution international money transfer service can now send money to family and friends in the People’s Republic of China.
Boss Revolution customers can send up to US $10,000 from any Boss Revolution retail money transfer agent in the U.S. for deposit within 24 to 48 hours in Chinese Yuan Renminbi denominated accounts at many of China’s largest banks. Additionally, Boss Revolution notifies the intended recipient and verifies their account information to insure timely, trouble-free delivery.
“We are very pleased to expand our money transfer service to China,” said Alfredo O’Hagan, IDT Corporation’s Senior Vice President for Consumer Payments. “Boss Revolution offers a convenient, reliable and affordable way to send money throughout China through our extensive network of participating Chinese banks.”
Twenty-seven banks are now accepting deposits for their customers from Boss Revolution’s money transfer service. They are the Agricultural Bank of China, Bank of Beijing, Bank of China, Bank of Communications, Bank of Hangzhou, Bank of Jiangsu, Bank of Kunlun, Bank of Nanjing, Bank of Ningbo, Bank of Shanghai, Bohai Bank, China CITIC Bank, China Construction Bank, China Everbright Limited, China Merchants Bank, China Minsheng Banking Corp, China Zheshang Bank, Dalian Bank, Evergrowing Bank, Guangdong Development Bank, Hua Xia Bank, Industrial and Commercial Bank of China, Industrial Bank (Fujian), Ping An Bank, Postal Savings Bank of China, Shanghai Pudong Development Bank and Shenzhen City Commercial Bank.
The Boss Revolution money transfer disbursement network is comprised of over 67,000 locations in 44 countries around the world. To learn more about Boss Revolution money transfer, visit https://www.bossrevolution.com/services/money-transfer.
About IDT Corporation:
IDT Corporation (NYSE: IDT), through its IDT Telecom division, provides retail communications and payment services to foreign born communities, the under-banked and small businesses primarily through its flagship Boss Revolution platform. IDT Telecom’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular eponymous app for mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.