Banks Introduce Fees for Small Deposits and Large Withdrawals

China's 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.

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