Jane Chen / Shanghai Daily news

Debit card users in Shanghai will enjoy free services no longer, as China's Big Four state-owned banks will charge for the use of the cards after the Labor Day holiday concludes on May 7, the Wenhui Daily reported.
The report said the four banks, Bank of China, Industrial and Commercial Bank of China, China Construction Bank and China Agricultural Bank, have set the fee at 10 yuan (US$1.2) per year and will apply the new policy jointly to both existing and new users.  They will, they said, freeze accounts if their users don't pay the charge.
Compared with credit cards, which are usually charged service fees, the free debit cards are popular with ordinary locals as a current deposit account, banks said.  But since bankers are providing more value-added services than simple savings-and-withdrawal, such as online payment, e-payment as well as securities trading, it is reasonable for users to pay additional fees.
But card users scowl at the new charge, complaining that the banks are violating their rights by levying the fee without any negotiations with the clients.  Since bankers have volunteered to provide these additional services, they should not attach fees, they argued.
Unlike the Big-Fours, commercial banks in the city have not yet announced a plan to charge for the use of debit cards.  With a small market share, these banks are reluctant to charge the fees for fear the increased costs will turn their clients away, industry analysts noted.