News

China Construction Bank adds user fee to ATMs

July 28, 2002

BEIJING -- The Beijing branch of China Construction Bank (CCB) has reportedly decided to charge its customers 2 yuan (24 cents U.S.) every time they withdraw cash from ATMs owned by other banks, according to the China Daily.

Before the move was initiated on July 26, customers were allowed to withdraw money from any ATM for free, no matter which bank it belonged to.

The bank justified the charge by saying that the inter-bank service fee it pays to other banks when its customers use their ATMs, similar to interchange in the U.S., increased on July 1.

According to the China Daily, CCB is the first bank to openly charge a fee for such a service on the Chinese market.

In recent months, China Construction Bank has signed deals with both Diebold and NCR. It purchased 350 ATMs and service in a $9 million deal with Diebold and will also pilot Diebold's new 3030 Bulk Cash Recycler model. The bank also purchased Personas 84 and Personas 86 ATMs and software from NCR in a $14.4 million deal.

CCB already has 8,000 ATMs across China, a significant chunk of that country's installed base of 50,000 machines.

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