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. MoneyGram cooperates with numerous partners from Europe. Among them such financial establishments as Post of Canada, Cyprus, Ukraine, Iceland, Moldova, the Royal Mail of UK and Norway, Italian Post, Bank of Ireland, Sberbank of Russia, Kocbank, Banco Popular Espanol, and many others. In due time MoneyGram separated from the Western Union and became an independent brand. Money orders and official checks by MoneyGram continue their steady performance and expanded line of bill payment services deliver excellent results. Until 2004, the owners of MoneyGram were Viad Corp and Travelers Express Company Inc.