NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, February 26, 2016

China’s five biggest lenders announced to waive fees for money transfer services through mobile banking system and give a free allowance of 5,000 yuan via online banking transfers starting from today.

“This is a specific measure to protect savers’ interest and improve banks’ service quality,” said a joint statement from Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications.