Banks in China’s Ningxia rush into reducing fees to attract customers

2009-05-26 Yinchuan

Banks in the Ningxia Hui Autonomous Region are cutting fees in order to secure more customers. On May 18, Bank of Communications announced that from June 1 the bank will cut the service fee for online interbank remittance from 0.7 to 0.2 percent of the remittance amount and cut the maximum fee for a single remittance transaction from RMB 50 (approx. US$7.3) to RMB 20.