Chinese Banks Will Cancel These Charges Since August 1!
Since Aug. 1st this year, services charges for withdrawals from ATM/counter between different places (except for withdrawal from credit cards) and other unnecessary charges will be canceled!
The details of services charges cancellation:
1
Cancellation of withdrawal from counter at the same bank between different places.
Before than, 0.5% of withdrawals between different places (50RMB at most) was needed each time.
For example, if you had applied a debit card from Agricultural Bank of China in A city, and you drew money at the same bank in B city instead of A city, you needed to pay extra services charges before.
But under the new policy, you have no need to pay extra services charges in such situation.
2
Temporary cancellation of nominal fees and services charges for promissory note, bill of exchange and card loss reporting.
3
No account management charge or annual fee for the designated account (according to the bank).
Since Aug. 1st, no account management charge or annual fee (except for credit card or VIP account) is needed for the designated account according to each bank.
It is estimated that the policy will help customers save 6.105 billion RMB in total each year.
In addition, as for commercial banks, they should show clearly to the customers about applying the designated account which is free from services charges via websites, App, or their bulletin boards.
Source: people'sdaily
HACOS,Business Services Solutions Master