New rules to govern banks' service fees
By Richard Fu |
February 13, 2012, Monday
|
Print Edition
Print Edition
CHINA has proposed new rules to regulate service charges by commercial banks to protect consumers' rights.
The banks must give a three-month advance notice to clients of a price increase in services which they can price independently, according to draft regulations issued on Friday by the China Banking Regulatory Commission, the People's Bank of China and the National Development and Reform Commission.
The customers must also be informed one month in advance if the banks want to charge them for a new item .
The proposed rules also said that the government will set or guide charges on some basic services such as fund transfer and payment collection.
The public can submit views on the proposed rules to the three agencies until March 20.
The banks must give a three-month advance notice to clients of a price increase in services which they can price independently, according to draft regulations issued on Friday by the China Banking Regulatory Commission, the People's Bank of China and the National Development and Reform Commission.
The customers must also be informed one month in advance if the banks want to charge them for a new item .
The proposed rules also said that the government will set or guide charges on some basic services such as fund transfer and payment collection.
The public can submit views on the proposed rules to the three agencies until March 20.
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