Capital G Bank Ltd. has announced that their relationship with Western Union Financial Services International Ltd, a subsidiary of First Data Corporation, will end on October 31.

Moira Tamayo-Cole, regional vice president, Central America, Caribbean and Andean Region for Western Union said: "We have enjoyed a positive relationship with Capital G since 1997. We wish them continued success as they continue to build their banking business."

Western Union expects to announce a new provider for the company's transfer service within the next few weeks. Capital G, however, is entering into a new relationship with HSBC Bank which will enable the local bank to execute US dollar wire transfers for customers and clear cheques drawn on US banks more easily. Foreign currency transfers will also be available. HSBC has branches in all of the major financial centres and in many countries around the world.

Sarah Farrington, president and CEO of Capital G Bank said: "The evolution of our money transfer service is consistent with our strategic goal to introduce traditional banking services, Bank customers will therefore not be inconvenienced as a result of the loss of Western Union."

Mrs. Farrington added: "Capital G has been providing Western Union money transfer services for five years and has been very pleased with the level of business. We are now in the process of assisting Western Union Financial Services International with solidifying a new local agent for the provision of the service."

The dedicated personnel employed as Western Union tellers will be transferred to other areas within the Bank, and Mrs. Farrington added: "these resources are needed to service the steady growth and demand for Capital G Bank Limited products and services."

Western Union has been involved in the Bermuda community since 1997.dents studying in Bermuda.