banks are starting to charge fees to depositors who fall outside of the norm.
The idea of a maintenance charge for low-balance accounts has been mulling for
quite some time within the industry, and China's large banks have finally
begun to implement fee schemes. China Construction Bank yesterday started
collecting quarterly fees from any depositor whose balance falls below a
certain minimum, and in response, Bank of China, Industrial and Commercial
Bank, and Agriculture Bank announced their plans as well.
According to a report in Beijing
Youth Daily, Bank of China will begin assessing a fee of 3 yuan (US$0.37)
per quarter on any account whose average balance falls beneath 500 or 400 yuan
(US$61.7 or $49.4), depending on the account type. Accounts for repaying loans
or receiving pension
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