Sumitomo Mitsui Bank Cuts Transfer Fees

TOKYO, Jul 09 (News On Japan) - Sumitomo Mitsui Banking Corporation (SMBC) will reduce transfer fees for individual customers starting in October. When using an ATM with a cash card to transfer funds to another SMBC account, the fee will be lowered from 110 yen to free.

The fee reductions apply to internet banking, ATMs, and over-the-counter services for individual transfers. Specifically, ATM transfers using a cash card will see fees reduced to zero for transfers to SMBC accounts. For transfers of 30,000 yen or more to other banks using an ATM, the fee will decrease from 330 yen to 275 yen.

Additionally, for internet banking transfers of 30,000 yen or more to other banks, the fee will drop from 330 yen to 220 yen.

Conversely, the fees for cash-based transfers will be increased.

This comprehensive review of fees is the first since 2018. With the lifting of negative interest rates leading to higher market rates and expected interest income, SMBC aims to attract more deposits, which serve as a source for lending, by reducing transfer fees.

Source: TBS

JR West Develops Special Umbrella to Protect Passengers from Knife Attacks

JR West Japan has announced the development of a special umbrella designed to protect passengers and crew from attackers wielding knives or other weapons, with plans to equip train cars with these umbrellas.

Bus carrying Japanese tourists crashes in Turkey, 6 people hospitalized

The Japanese embassy in Turkey says six Japanese tourists were hospitalized with injuries on Thursday after their bus was involved in an accident in western Turkey. (NHK)

New Replica COVID Vaccine Sparks Controversy in Japan

Japan’s recent approval and rollout of a new "Replica Vaccine" for COVID-19 has triggered widespread public concern, with some businesses imposing entry bans on vaccinated individuals. The vaccine, which began regular administration in October, has faced backlash due to its ability to "self-replicate" in the body, raising anxiety about its safety.

Japan's Oldest Reactor Gets Approval to Operate 50+ Years

Japan's Nuclear Regulation Authority has granted approval for Kansai Electric Power Company's Takahama Reactor No. 1 to operate for over 50 years, marking a first in Japan, reaching its 50th anniversary next month.

Japan Faces 18 Trillion Yen Economic Loss Due to Sleep Deprivation

Japan is grappling with a severe sleep deprivation crisis, with economic losses estimated at 18 trillion yen annually due to reduced productivity, according to a study by the RAND Corporation.

MEDIA CHANNELS

MORE Business NEWS

Ajinomoto's Gyoza Leads Japan in Sales for 20 Consecutive Years

Ajinomoto, the century-old food giant, continues to dominate the market, with annual sales exceeding one trillion yen. Known for its wide range of products, including frozen foods, seasonings, cosmetics, and medical-use amino acids, the company has recently made headlines for its flagship frozen gyoza, which has been a top seller in Japan for two decades.

ANA Unveils Mega Automated Warehouse

ANA has revealed its largest automated cargo warehouse at Narita International Airport, set to commence operations next week.

Japan Faces 18 Trillion Yen Economic Loss Due to Sleep Deprivation

Japan is grappling with a severe sleep deprivation crisis, with economic losses estimated at 18 trillion yen annually due to reduced productivity, according to a study by the RAND Corporation.

BookOff Group Reports Y68 Million Loss Due to Fraudulent Purchases

BookOff Group Holdings has announced the findings of an investigation into fraudulent activities, including fictitious buybacks, uncovered at stores nationwide. The total loss amounts to Y68 million.

Chinese EVs Lead the Way in Paris, Major Japanese Automakers Absent

The 90th Paris Motor Show has opened, showcasing a significant presence from Chinese EV manufacturers as the European Union imposes additional tariffs. This year, no major Japanese manufacturers participated.

Business Jargon Baffles Younger Workers: How Many Do You Understand?

A ranking of business terms that are often misunderstood by younger employees has sparked discussion. Are you using phrases that might not be understood by the younger generation without even realizing it?

Japan Post Reveals Unauthorized Use of 1.55 Million Customers' Data

Japan Post has revealed that approximately 1.55 million customers' data from their postal savings accounts were improperly used for sales of insurance products by Japan Post Insurance without obtaining consent.

U-NEXT Reports Increased Sales and Profits with Subscriber Growth of 500,000

U-NEXT Holdings announced its consolidated financial results for the year ending August 2024 on October 10th, reporting a sales increase of approximately 18% to 326.7 billion yen, while net profit rose by about 40% to 15.3 billion yen, marking strong gains in both revenue and profit.

< 2 3 4 5 >