BANK OF CHINA TO CHARGE ANNUAL FEES ON DEBIT CARDS

AsiaInfo Services, June, 2005

AsiaInfo Services 06-10-2005 Bank of China to Charge Annual Fees on Debit Cards CHINA, Jun 10, 2005 (SinoCast via COMTEX) -- One of China's big four state-owned leanders Bank of China (BOC) would charge annual fee on debit cards from September 1. Only the VIP cards and salary cards could be exempted from annual fee charge.

Common debit cards would be charged an annual fee of CNY 10. As a matter of fact, the Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), and Agricultural Bank of China (ABC) have already begun collecting annual fees. However, shareholding commercial banks like Everbright and Minsheng continue charging no annual fees. Due to issuance of a large quantity of cards and enlargement ofbusinss outlets, state...

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