ICBC will increase
its charge for trans-bank cash ATM withdrawals by its customers by up
to 100 per cent from next month. A company statement confirms that,
from November, it will charge up RMB 4 per withdrawal from another
bank's teller machine.
Bank of China already charges RMB 4 for
each cash withdrawal in Liaoning and Hunan provinces, while
Agricultural Bank of China and China Construction Bank both charge RMB4
in Guangdong Province. In Shanghai, most banks charge RMB2 for the same
service. Fees can be even higher when bank customers withdraw money
outside of their city or province. Visitors from Shanghai must pay RMB8
for a withdrawal from their bank in Anhui province.
China Daily
reports that banks in China pay RMB3 to each other for trans-bank cash
withdrawals, and RMB0.6 to UnionPay, the monopoly credit card
facilitation system operator.
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