Opinions Win-win in Ending Fees
The China Banking Association said recently that its member banks will stop collecting fees for inter-bank information enquiries at ATMs today. Some say that consumers finally won a round in the anti-fee battles. Actually this is a win-win result for all parties.
| Shortsighted Bankers
Chinese banks should not think they are doing customers a favor by agreeing to stop charging cross-bank ATM inquiry fees. By scrapping this short-lived service fee, they are actually gaining a much needed opportunity to rid themselves of business myopia.
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Reactions | Insiders-"Charging service fees is in accordance with market principles, and is usually seen in banks in foreign countries. However, Chinese banks should still take note of the effects various bank fees have on customer service."
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