Peony Card holders at the Industrial and Commercial Bank of China (ICBC) may soon pay more when drawing cash from other banks' ATMs. The country's biggest lender recently adjusted the basic charge for the card's cross-bank ATM cash service. Users pay a fee ranging from 2 yuan to 4 yuan each time they draw money from non-ICBC ATMs at home. Transactions abroad cost between 13 yuan and 62 yuan.
The ICBC's original fee for domestic inter-bank ATM cash service had consistently been 2 yuan.
Starting November 1, the international cross-bank ATM inquiry fee for the card will also rise to 4 yuan, according to the new fee levels.
Domestic banks are following different fee structures for cross-bank ATM cash service. Charges range from 2 to 4 yuan.
Officials at the ICBC said the highest fees will only be adopted in few places to be on par with local banks. Users in most places, like Beijing and Shanghai, will still be charged the original fees.
