Mitsubishi UFJ and Sumitomo Mitsui Mutual ATMs free of charge September 21st 13:04
A major bank embarked on joint use of ATMs. Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corporation have been able to withdraw cash from each other's ATMs in front of stations nationwide on the 22nd without any fees.
Joint use will start at over 2,800 ATMs outside bank stores such as stations and shopping centers throughout Japan.
When you withdraw cash from an ATM of a bank that does not have an account, it is common to take a fee. You will be able to withdraw and deposit cash at no charge.
As ATMs at convenience stores increase and cashless payments such as electronic money spread, the number of ATM users set up by banks gradually decreases, and maintenance costs increase.
For this reason, Mitsubishi UFJ and Sumitomo Mitsui intends to abolish approximately 700 joint ATMs in the vicinity to improve efficiency. The movement of efficiency is also progressing at other banks, and Aozora Bank has abolished its own ATM, and can use the partner Japan Post Bank ATM for free.
In the past, banks have established ATMs to compete with customers to acquire customers, but the ATM strategy has changed as the business environment has become severe due to prolonged low interest rates.