Study On Legal Issues Of The Management Fee Of Small Sum Personal Banking Account

The application of banking service (a form of financial service) is an important symbol of modernization. With the development of reform and opening, more convenience is brought to the public for the business innovation and service consciousness has been enhanced greatly in Chinese financial institutes in recent years. However, disputes do exist in the present Chinese finance in the speedy development, such as the management fee of small sum personal banking account. Since the lack of relevant laws and regulations, most of the lawsuits about the management fee of small sum personal banking account fail and the legitimate rights and interests of consumers cannot be guaranteed. This arouses extensive attention of the public and stirs up heated debate. Therefore, the study on the relevant laws and regulations on the management fee of small sum personal banking account is of great significance both in theory and practice.The paper contains four main parts:The first part presents a panorama of the cases and the focus of the dispute. The case of Liu Zhijiang in Hunan province will be quoted to bring in the heated disputes including whether the bank has the right to price the management fee of small sum personal banking account, whether the bank has the right to change agreement unilaterally and charge the management fee and whether this behavior is consumer discrimination.The second part is an overview of the management fee of small sum personal banking account. An accurate definition and the type of service of the management fee of small sum personal banking account will be given with relevant information. Meanwhile, with the methods of summary and listing, the history and present situations of the fee will be introduced to make it more comprehensive.The third part, which concerns three aspects, analyses the main legal issues of the management fee of small sum personal banking account. The first is the pricing right issue. In this aspect, the legal conflicts will be uncovered through the comparison of present relevant laws and regulations and that the fee should be directed by the government or regulated by the market will be discussed. The second aspect is about the legality of contracts. This part includes how to explain the standard clauses, whether banks have the right to change contract unilaterally to charge the fee, and whether it's validity of changing contract through public announcement. The third part is the legitimate rights and interests of consumers. This part is an investigation into the small savers'rights to know and to choice, issues of duty-paid proof and the"financial exclusion"caused by the management fee of small sum personal banking account.The final part is suggestion on regulating banks'charging services including the management fee of small sum personal banking account. Basis on the ideas from the financial-developed countries, a fair, reasonable and transparent financial climate can be formed and the harmony between the public and the finance can be realized with the improvement of bank charging system and regulation, the introduction of free public welfare account and the building of a consumer-protecting system.