News

ATM fees begin at China banks

June 7, 2006

People's (China) Daily: ATM fees at four major Chinese banks went into effect June 1. Industrial and Commercial Bank of China, China Construction Bank, Bank of China and Bank of Communications began charging holders of other bankcards 0.3 yuan (U.S. 3.8 cents) for checking accounts at their ATMs. Some joint-stock banks are following suit, with minor adjustments. Smaller banks, struggling for a bigger market share, may foot the bill on behalf of cardholders.

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