business

Japan's 3 megabanks consider operating ATMs jointly

28 Comments

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I have always hated the fact that Japanese banks hold too much control over MY money, they decide when the ATM's will be open and when they close. It's gotten better, but I still should have access to MY money 24/7, like other industrialized nations!

If this merger allows this to happen, then great!

16 ( +17 / -1 )

In a few years

Lol

Bankbooks

Lol again

Year 2000 or before.

14 ( +14 / -0 )

Blockchain is to banks as the internet is to newspapers. They can see the writing on the wall. They will make small adjustments to compete, will lobby governments to criminalize blockchain ventures and bitcoin users, and will finally fall short. Newspapers, record companies, major film studios, banks, Western Union... the process is the same.

4 ( +4 / -0 )

7&I Holdings has got them really nervous. Just a matter of time before "convenience" banking takes over Japan.

7 ( +7 / -0 )

10 years too late, but ok.

Services offered by the new jointly-operated ATMs are expected to be simplified, with the ability to print transaction records on the bankbooks removed

So i won't be able to update transactions unless i use internet bsnking?

0 ( +0 / -0 )

I don't see this as good for consumers, just the banks themselves. Bank hours 9 - 15, ATM hours 7 - 22. Banks here serve you when it's convenient for them!

The banks can imagine that Japan will become a cashless society. But the ojisan selling takoyaki out of a van outside of a busy station stations isn't ready for it!

Might be a better idea to promote the use of mobile payment for small vendors before reducing ATMs, especially in time for the Olympics.

5 ( +5 / -0 )

Lots of foreigners in Japan whine about their banks not having Internet banking. I don't believe them. I use three tiny, local banks, and they all offer Internet banking. People complaining are invariably those who cannot read/understand Japanese, and as such they have no idea what their own bank offers or doesn't offer.

-5 ( +6 / -11 )

domestic on-line banking only .... ya can't fiddle around with your J-bank account from overseas, if you try transferring money from a bank account overseas you have to be back home to pick up the phone to receive it.

4 ( +5 / -1 )

merger or not, i use shinsei anywhere. Can be used anywhere at anytime and no ridiculous administration fee which I think is a huge scam in itself.

7 ( +7 / -0 )

domestic on-line banking only .... ya can't fiddle around with your J-bank account from overseas, if you try transferring money from a bank account overseas you have to be back home to pick up the phone to receive it.

Not true. I have done this many times without a hitch.

-4 ( +3 / -7 )

I needed to renew my travel pass and needed cash. Of course the ATM was closed in the morning. Dont like to use the ATM at stores.

My only two gripes about banking in Japan are the ATM times and the lack of an itemised statement.

3 ( +3 / -0 )

Internet banking just isn't that good here. There are times of the day when I can't even send money. Granted, there are operating hours (which end very early in the day), but it won't even let me register so that it processes it the next working day. I actually have to log-on and register it the next day.

3 ( +3 / -0 )

Not true. I have done this many times without a hitch.

I know what you are saying Transferwise & Paypal

-1 ( +0 / -1 )

Hack one, get three.

1 ( +1 / -0 )

Shinsei, no charges for ATM, all Post Office and convenience store ATMs part of their network. Online banking, with FX, etc available. Good service.

2 ( +2 / -0 )

I know what you are saying Transferwise & Paypal

I have never used Transferwise or Payal. I have never had the need to.

-3 ( +0 / -3 )

banking in japan is a sorry state of affairs

4 ( +4 / -0 )

their bankbooks 

their what’s?

0 ( +0 / -0 )

Why not all banks?

3 ( +3 / -0 )

I was shocked by how archaic banking is in Japan when I first got here. Hopefully their need for streamlining helps push them towards the 21st Century banking standards you see in other first world countries...

4 ( +4 / -0 )

Such a stupid move. First of all, it took several years for Mitsubishi-Tokyo and UFJ to combine their ATMs and that was several years after their merger. Aside from the bank being labeled MUFJ bank if you had a Tokyo Mitsubishi bank card or a UFJ card, they wouldn't work depending on which company's ATM you were using. I could see a similar thing happening.

Secondly, cash isn't going out of style anytime soon. There are still SEVERAL places that won't accept credit cards so there is still a need for ATMs. The smart move would be reduce or get rid of service charges, and make it possible for more international banks to use these ATMs.

2 ( +2 / -0 )

3 rocks tied together still sink.

0 ( +0 / -0 )

Better service? Nah. Just worried about profits only.

1 ( +1 / -0 )

Call me jaded but I just see this as a chance for them to demand payment for EVERY transaction you make if this happens. I currently have free withdrawal as long as it's between 9:00-19:00 (I think it is!). I can see that ending and their excuse being "but we have to charge because we have to process which bank the withdrawal was from. And what's this cutting down type idea? There are zero ATMs near me unless I go to a conbini. If banks want to cut back on cash, great. Welcome to 1995 and the debit card. Now convince shop owners to allow credit cards and cash cards to be used - without trying to bill the user. I STILL can't pay for my flights by card with the travel agent I use unless I agree to pay a 4% charge on top of my flight.

1 ( +1 / -0 )

So they can all share transaction logs...

-1 ( +0 / -1 )

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