Bank service rules to be revised
Source: Xinhua |
August 11, 2010, Wednesday
|
Print Edition
Print Edition
China's banking regulator yesterday said it is considering revising the bank service pricing regulation so bank customers can enjoy better services.
A draft version of the revised regulation has been sent to China's commercial banks and local price monitoring offices, the China Banking Regulatory Commission said in a statement on its website.
Several commercial banks, including the Industrial and Commercial Bank of China, which is the country's largest lender, raised their cross-bank same-city automatic teller machine withdrawal fees last month, provoking anger among bankcard holders.
According to the draft, any changes in service pricing should be prominently announced five months before its implementation, and if customers objected, the bank should stop the service rather than forcing them to accept the service and the price change.
"It is necessary to inform clients about the price change in advance, so that they have time to make their decisions or prepare for the change," said Guo Tianyong, head of the China Banking Research Center, Central University of Finance and Economics.
The draft version of the new regulation will also seek public opinion after it receives feedback from commercial banks, the CBRC said.
A draft version of the revised regulation has been sent to China's commercial banks and local price monitoring offices, the China Banking Regulatory Commission said in a statement on its website.
Several commercial banks, including the Industrial and Commercial Bank of China, which is the country's largest lender, raised their cross-bank same-city automatic teller machine withdrawal fees last month, provoking anger among bankcard holders.
According to the draft, any changes in service pricing should be prominently announced five months before its implementation, and if customers objected, the bank should stop the service rather than forcing them to accept the service and the price change.
"It is necessary to inform clients about the price change in advance, so that they have time to make their decisions or prepare for the change," said Guo Tianyong, head of the China Banking Research Center, Central University of Finance and Economics.
The draft version of the new regulation will also seek public opinion after it receives feedback from commercial banks, the CBRC said.
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