The Straits Times
www.straitstimes.com
Published on Jan 14, 2013
 

China bank's 'sexist' promotion sparks outrage

 
 

BEIJING (AFP) - A Chinese bank's offer to automatically transfer most of a husband's income to his wife's account has provoked fury, with some calling it "the most atrocious banking service against men in history".

On its website China Merchants Bank (CMB), a major financial institution, describes its "capital accumulation" service as a "time- and energy-efficient" way for a couple to save money.

Using fictional newly-weds Xinyan and Wenhao as an example of a couple struggling to save for a home, an advertisement for the service reads: "CMB will check Wenhao's account balance on a daily basis.

"Once it goes over 1,000 yuan (S$195), the bank will automatically transfer the excess into Xinyan's account.