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UnionPay to institute ATM transaction surcharge
By STAFF EDITOR
Published: March 02, 2006 11:00 AM
UnionPay, China's ATM network operator, will begin charging a surcharge for transactions made at ATMs not belonging to the bank of the cardholder, the Beijing Times reports. Beginning on 1 April, UnionPay will charge 0.1 yuan per transaction, which the banks themselves will pay. Whether cardholders will end up footing the bill is up to the individual banks; in the past, smaller, joint-stock banks have been less inclined to charge fees than large, state-owned institutions. At present, 550 million UnionPay cards have been issued.Link: http://www.bjt.net.cn/news.asp?newsid=140075
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