Bank of America, China Construction Bank Link ATM Networks
Beginning April 1, 2006, Bank of America customers traveling to China will have free access when using debit or ATM cards to withdraw cash from more than 11,000 foreign-enabled China Construction Bank ATMs. CCB's "Happy Investor" cardholders will enjoy the same benefit when using one of nearly 17,000 Bank of America ATMs in the United
States.
Separately, Binyamin Appelbaum reports for the Charlotte Observer that Bank of America Corp. may create a joint venture with China Construction Bank to issue credit cards in China."Our customers are now able to benefit from our partnership," said Kenneth D. Lewis, Bank of America chairman and chief executive officer, noting that half of Bank of America's ATMs have Chinese language capability. "China Construction Bank is building on its recent progress and success in strengthening its position as an international financial services provider."
"The successful operation of this project is a significant step for the strategic cooperation between CCB and BAC," said China Construction Bank Chairman Guo Shuqing. "It's the common goal of CCB and BAC to provide clients with first-class financial products and services."
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