BOC Hong Kong To Launch New Cross-Border Remittance Service On September 27

BOC Hong Kong (2388) said it will launch its new personal cross-border remittance service, BOC Instant Remit, on September 27, according to Ming Pao. The service is part of a retail cross-border payment innovation project jointly launched by SWIFT and banks. It will offer individual customers 24/7 cross-border remittances that take only a few minutes, the bank said, adding that the service is designed to remove the time and cross-time-zone limits of traditional transfers and make overseas fund transfers more convenient and efficient.