business

2 megabanks in Japan to share ATMs to cut costs amid fall in users

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paying an administration fee to use the electronic ATM. What a scam.

9 ( +10 / -1 )

2,000 ATMs, including unmanned machines installed outside of the banks' offices

Ah-hah! so they are saying they have ATMs that are 'manned', this explains why their ATMs arent 24-7, i always suspected that they dont have a computer behind it, and in fact its just a little ojichan sitting in there taking your card, faxing details to head office, receiving the OK and then pushing money through the slot...

8 ( +9 / -1 )

Perhaps if the machines were available 24/7 and free of charge, more people would use them.

7 ( +8 / -1 )

More nudge marketing from banks losing their profits. The customer comes last should be their motto.

7 ( +8 / -1 )

Even Shinsei is charging a withdrawal fee from seven eleven now. No point to use them for day to day banking anymore.

7 ( +7 / -0 )

Under the plan, users with accounts at MUFG Bank and Sumitomo Mitsui Banking Corp will be able to withdraw money from either banks' ATMs free of charge on weekdays.

Only weekdays?

And why is there still a transaction fee on ATMs during nighttime hours (21.00-08.45), even though I'm using the same bank? ATMs in so-called "third world" countries are better in this regards, always open 24/7 and always free of charge.

4 ( +6 / -2 )

For a country as advanced as Japan, their ATM system is simply lagging years behind others!

3 ( +4 / -1 )

Majority of the developing countries in Asia have a much better digital banking system, charging a admin fee to use atm is something unique to Japan and defies logic as cash is still the king in this country, ohh and probably that's why a fee is charged.

3 ( +4 / -1 )

So old technology. Japan is century behind digital revolution, if this were happened 50 years ago.

2 ( +3 / -1 )

My digital bank has cost me 0€ for years with all services available. Only requirement, to earn more than 2000 € monthly.

I remember having to go to a bank agency to wire transfer to a foreign account just a few years ago...so way beyond.

It is still middfle age to start thinking to share means in your local market when you are an international company.

2 ( +2 / -0 )

Decades behind most of the developed world.  How Japanese banks with such a massive deposit base and domestic economy struggle to make money is one of life's enduring mysteries.

2 ( +2 / -0 )

Peeping Tom, most current accounts in the UK are free, you have to choose to sign up to a premium account that has a monthly charge for so called extra benefits. More fool you if you waste money on that. As for ATMs, those part of the banking Link system are free 24/7, everyday and are everywhere. The ones you pay for are the non Link machines.

I've never paid for my current account in the UK, or to use a cash machine.

2 ( +2 / -0 )

users with accounts at MUFG Bank and Sumitomo Mitsui Banking Corp will be able to withdraw money from either banks' ATMs free of charge on weekdays.

Where's Mizuho anyway? It's being left out?

0 ( +0 / -0 )

For a country as advanced as Japan

Thanks for the morning levity!

0 ( +1 / -1 )

Japan is surprisingly slow to adopt things... it's not long ago since it was hard to find a place that would accept a Credit Card, and ATM's were often closed down after hours (for a rest... ?).

Citibank, whilst it was here, used to be pretty good for allowing use of their ATM card in other banks machines free of charge (assuming your balance was over a certain amount).

As such, I think the Technology to access your money via another Banks's ATMs has been around, but with the local banks, they'll charge you more, for using anyone elses ATMs than their own....

0 ( +0 / -0 )

There are more Link than non-Link machines. Unless you are living or socialising in a very rural area there is always a free machine nearby. If you are too drunk to notice which machine you are using, that's your lookout.

0 ( +0 / -0 )

Be fair. Japan is making progress. I remember when you could not find an ATM you could use anywhere in Japan on a Saturday afternoon. However, even back then, you could use your Japanese cash card in ATMs any time of day or night, even at weekends overseas.

-1 ( +2 / -3 )

" The ones you pay for are the non Link machines."

You're not telling me anything I don't already know.

The fact is they do exist and have a nasty habit of "showing up" when you're strapped for cash on a weekend night.

Contrary to the "paid ATM's and cash usage " being a "Japanese thing" these things still exits in the UK and elsewhere.

That's my point.

-1 ( +0 / -1 )

" charging a admin fee to use atm is something unique to Japan and defies logic as cash is still the king in this country,

INCORRECT!

1) Cash is still king in the UK, 2018

2) Not all ATM's in the UK are FREE; some charge £1.50 - £2.00 per transaction

3) Most ATM's are free; however, lots of them require PAYMENT.

4) We've just had our joint account of £500 with Barclays wiped out clean, all in administration fees, in order to "maintain the account (!!!).

Ksteer hit the nail on head; far too many "experts" don't know what goes on with banking abroad; I even doubt they know what financial services really are.

-2 ( +0 / -2 )

Only weekdays?

And why is there still a transaction fee on ATMs during nighttime hours (21.00-08.45), even though I'm using the same bank? ATMs in so-called "third world" countries are better in this regards, always open 24/7 and always free of charge.

It astounds me how many people use these important financial services without actually understanding how they work. You get charged an ATM fee because that is one of the few ways Japanese banks actually make money, most banks around the world charge a monthly fee to have an account in the first place, Japanese banks do not. Most banks around the world lend money at high interest rates to make money and then pay a fraction of that amount back to the accounts in interest. Japanese banks don't lend at high interest rates (comparable) as such, thats why there is no accrued interest for personal accounts.

I wouldnt complain so hard, or you'll find that you'll end up spending more in the end if they adopt the industry practices. The ATM fees might seem high and unneeded, but at least they are upfront about it. Thats literally the only time you pay the bank, as opposed to having your fees hidden in various legal jargon regarding your high interest rates, required deposit minimums, card charges etc.

-4 ( +4 / -8 )

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