Guangdong launches cross-border remittance service for Hong Kong seniors

(ECNS) -- Banks in Guangdong Province introduced a new cross-border remittance service earlier this month that allows eligible Hong Kong retirees to receive government welfare payments in designated bank accounts on the Chinese mainland.

Under the new arrangement, eligible seniors can have their allowances remitted in Hong Kong dollars to designated mainland bank accounts free of charge, removing a key obstacle for retirees choosing to live in Guangdong.

Currently, payments can be deposited into accounts at Industrial and Commercial Bank of China and Bank of China branches in Guangdong.

(By Kira)