Money transfer system MoneyGram International and the second largest bank in China - Bank of China, announced the start of service of MoneyGram at 200 offices Bank of China in Beijing. After the correction of tariffs, volumes of MoneyGram transfers increased by 30%. In due time MoneyGram separated from the Western Union and became an independent brand. Until 2004, the owners of MoneyGram were Viad Corp and Travelers Express Company Inc.