On March 7, 2011, MoneyGram entered into a Recapitalization Agreement with THL, as the holder of all of the B Stock, and Goldman Sachs, as the holder of all of the B-1 Stock. 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. The benefits of money transfers by MoneyGram: there is no need to open a checking account when implementing the transfer. When sending the transfer via MoneyGram in one currency and receiving it in another, then currency conversion is carried out at the current rate of sales of current service point. The benefits of money transfers by MoneyGram: no fixup (the recipient may request payment at any MoneyGram agent in the country of receiving). Millions of people around the world trust MoneyGram, as the wired transfer system provides its customers with a reliable, fast and inexpensive service. Around the world, MoneyGram is working with leading financial institutions. At the heart of MoneyGram is trust and reliability of customers. You can quickly send and receive money, as money transfers usually come to the recipient within 10 minutes. Commission income on remittances and other revenues of MoneyGram in the 2nd quarter 2012 increased by 10% compared to the same period last year and 13% in the base currency.