China Construction Bank, also known as CCB, is the largest bank in China. The bank was established in 1954 and currently has over 677 branches. It serves more than 25 million customers through its retail banking system, which offers products such as lending, deposits, insurance products and wealth management services. CCB also operates a large business-to-business banking operation for its corporate clients.
With over 500 branches in China and over 100 branches abroad, the China Construction Bank is one of the five largest banks in China. They offer a wide range of services including loans, wealth management, cash management, consumer banking, credit cards, trade finance insurance and much more. Their success has been primarily due to their willingness to offer these services to almost anyone who wants them without asking too many questions about the status of the individual’s finances.
Debit Card Facilities
China Construction Bank, one of the largest banks in China, has recently offered debit card services to its customers. This new program will replace all previously used bank cards in which retail purchases are made. The new service will allow the users to avoid carrying cash on their person when purchasing goods. These debit cards can also be used to withdraw money from ATMs in China Construction Bank branches.
Lately, there have been many stories in the news about large corporations being hacked. Among them are Yahoo, which has just disclosed the hacking of 1 billion accounts, and Equifax, where 143 million American customers had their personal information compromised. China Construction Bank has taken this into consideration when developing their new security system. They have used a dual-key encryption system to keep customer data safe from hackers. This is accomplished by separating user IDs and passwords for verification purposes.
Salary sorting in a bank is a task that requires a lot of hard work and patience. Workers need to make sure they follow each rule correctly in order for the bank’s accounting department to verify the accuracy of the finished work. The main responsibility of a salary sorter is to match all checks with corresponding records by comparing them on their ids.
As of October 2016, China Construction Bank has decided to start limiting ATM withdrawals per day. The change will be reported to the customers on November 1st, and will take effect two months later on January 16th. China Construction Bank Cash Withdrawals is a change that impacts customers in the fastest growing economy in the world.
Tracking Your Spending
It’s no secret that China has a reputation of monitoring its citizens. From the Great Firewall to demanding that all citizens carry an ID card, it’s clear that privacy is not valued in this country. Unfortunately, recent events have shown that privacy may be shrinking for Chinese citizens when it comes to their bank account. China Construction Bank is now requiring customers to link their bank accounts with mobile applications in order to withdraw funds over 10,000 yuan ($1,600 USD).
Cash Withdrawal Fees
China Construction Bank has recently updated their cash withdrawal fees, which will now be charged on a sliding scale. The rates are set at 0% for withdrawals up to 500 yuan, 1% of the amount withdrawn for withdrawals between 501 and 2000 yuan, and 2% for withdrawals over 2000 yuan. CCB also updated their rates on credit card services, with all transactions being charged at 0.1%.
Card Replacement Fees
Some people in China have been complaining about their bank issuing additional fees when they cancel a credit card that has been lost or stolen. Customers of the China Construction Bank have been upset when they learned that their bank charges an administrative fee every time a customer breaks the credit card’s contract, which can be as high as $30.