TOKYO, Oct 12 (Japan Today) - Restoration work for Japan's payments clearing network was completed Thursday morning, two days after a system failure disrupted fund transfers at 11 banks, its operator, Japanese Banks' Payment Clearing Network, said.
Among the 11 banks, MUFG Bank said the same day that its transaction service had returned to normal.
Over 5 million transactions were affected, with transfers via automated teller machines, online banking and bank counters all delayed.
The problem disrupted over 2.5 million money transfers from MUFG Bank and 10 other banks to other financial institutions, including 1.4 million on Tuesday, and another 2.5 million transfers to the 11 banks from others.
Transfers via automated teller machines, online banking and bank counters were all delayed.
The system failure has affected child allowance payments in some municipalities and delayed insurance payouts by some firms.
Source: ANNnewsCH