Bank of America Corp. and China Construction Bank Corp. have agreed to let their customers use each other's automated teller machines for free, beginning April 1.
The Charlotte banking company announced the reciprocal agreement Wednesday.
The Chinese bank has 15,000 ATMs, but 4,000 of them do not accept Visa International or MasterCard International cards and thus cannot be used by Bank of America customers. It has 136 million active accounts, 14,000 branches, and is majority owned by the government entity China Safe Investments Ltd.
Bank of America said that half of its 17,000 ATMs have Chinese language capability. The U.S. company bought a 9% stake in China Construction Bank last August.
