Tuesday 17 August 2010

Consumer bank charges in China and the UK

China Radio International (CRI) reports from Beijing that commercial banks in some parts of China have recently raised the fees charged to customers for withdrawing cash from other banks ATM's. 

An online survey conducted by Chinese website Sina.com showed that almost 90 percent of respondents think the increased charge is exploitative, and will have a negative impact on what is known as the cross-bank withdrawal business.

Now China's Banking Regulatory Commission says that to improve customer service it's considering revising the banks service pricing regulations.  The issue has also raised concerns about the way banks make their profits and how they charge customers for their services.

CRI's current affairs show, People in the Know, speaks to Professor Zhao Xijun of the School of Finance at Renmin University for the Chinese experience of bank charges, and Govan Law Centre's Mike Dailly for the UK perspective of bank charges.

Today's show is available online here.  It can also be heard on smart phones here.


1 comment:

  1. It's worrying news for chines people that bank has raise their fees charger for customer. Thanks for sharing.