Local banks react separately to interbank service fees
7/7/2003 16:34
Banks in Shanghai are showing different reactions to the banking fee
regulation recently released by the country's banking authority, the Eastday.com
reported.
In the regulation, the China Banking Regulatory Commission lists
sectors of banking services allowed for charges and sets standards for the
charges. Currently, most of the banking services, such as deposits and
withdrawals, are provided for free.
To tap the new profit source, the
Shanghai Branch of Industrial and Commercial Bank of China, one of the country's
Big-Four state banks, is considering levying charges on more services, according
to Gao Ling, official in charge of the local branch's personal finance
department.
But he said it's too early to reveal the new charges and the
branch is still waiting for directions from its headquarters in Beijing.
One
of the most probable charges is on large-quantity coin counting service, he
noted.
ICBC has taken the lead in Shanghai to charge its cardholders from
April for withdrawing money from other banks' automatic telling machines, 2 yuan
(24 US cents) for each cross-bank withdrawal.
The charge hasn't received many
complaints as expected from its card users, a sign that local people are getting
more accustomed to pay for banking services, according to Gao.
While such
large state banks as ICBC are preparing to develop more pay services, smaller
commercial banks seem not enthusiastic about the new profit source.
Shanghai
Branch of China Minsheng Bank, for example, has reduced or even scraped its
charges on three banking services.
It has canceled the 5-yuan fee on ATM
cross-city transfer service, and lowered the ceiling charge for on-phone
same-city transfer service from 200 yuan to 50 yuan. It has also lifted the
1,000-yuan base for commission fees on mortgage loaning service.
Compared
with charges, building up corporate image and enlarging its customer base seem
more urgent a task for the commercial bank, analysts pointed out.
Smaller
than the Big-Fours, commercial banks need first to expand their brand awareness,
they added.
Jane Chen/ Shanghai Daily news
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