CBRC may ban some bank service fees

By Wu Nanlan
0 CommentsPrint E-mail China.org.cn, August 10, 2010
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The National Development and Reform Commission (NDRC) and China Banking Regulatory Commission  (CBRC) has sent a draft of an interim regulation that bans seven service fees to banks and local price regulatory authorities for input.

The new regulation will ban commercial banks from charging fees on services such as bank receipt printing, cross-bank ATM inquiries and opening or closing bank accounts.

Banks will also be required to notify customers about service prices through public announcements five months before their implementation.

The recent introduction of new charges has triggered widespread debate and criticism from bank customers.

China's business press carried the story above on Tuesday. China.org.cn has not checked the stories and does not vouch for their accuracy.


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