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Beijing banks charge for statements

Beijing banks charge for statements

Write: Alfred [2011-05-20]

Banks in Beijing have begun charging customers for bank statements, the Beijing News reported.

Although bank statements within a one month period for debit cards are still offered free, most banks charge from 5 to 20 yuan (US$0.7 to 3) for statements covering longer periods.

Charges for credit card statements are much higher, totaling 45 yuan for a year.

Customers also have to pay 10 yuan for retrieving a lost password.

Banks have turned to charging for intermediary services because they bring great profits without any risk, said a bank staff member, while deposit and loan businesses were unstable.

Qiu Baochang, a local lawyer, said banks should seek public opinion before charging for intermediary services.

China's four major state-owned banks have recently raised ATM fees on cross-bank, same-city withdrawals to 4 yuan from 2 yuan in some cities, including Tianjin and Guangzhou, but Beijing has not been included as yet.