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American Express Signs ATM Agreement with ICBC
American Express Travel Related Services Company Inc. today signed an agreement with the Industrial and Commercial Bank of China (ICBC) that will give American Express Card members direct access to more than 7,000 of the bank's ATMs across China.
The agreement will almost double the number of ATMs available for use by American Express Card holders in China, bringing the total to over 10,000 ATMs, an American Express spokesman said.
He said that to ensure smooth and efficient processing and service, American Express and ICBC will set up a direct ATM links through which all ATM transactions will go through a direct processing link that connects ICBC Head Office in Beijing with American Express in Hong Kong. The first phase of the direct link project involving 3,000 ATMs will be completed by the end of the year.
As China's largest commercial bank, ICBC has been an agent for American Express since 1991. The Bank has the largest network of 27,000 branches across the country, as well as China's most extensive ATM network.
Today's agreement coincides with American Express' recent announcement of the establishment of its China headquarters in Beijing, scheduled to open later this year. The headquarters will be engaged in coordinating the company's activities in China, and liaise with government agencies and business partners.
American Express spokesman said the establishment of the China headquarters demonstrates the company's long-term commitment to the China market.
Founded in 1850, American Express is a diversified worldwide travel, financial and network service company. It is a leader in charge and credit cards, travelers cheques travel, financial planning, investment products, insurance and international banking.
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