Japan's first post office to undertake some banking services Nara

Nationwide first post office undertakes partial banking business Nara Nov. 8 19:04

As the business environment surrounding local financial institutions has become increasingly severe, Japan Post has partnered with Nanto Bank in Nara Prefecture, and for the first time in Japan, a post office has undertaken some banking operations.

According to the announcement, Japan Post has partnered with Nanto Bank, and from March next year, some post offices in Nara Prefecture will undertake banking operations.

Specifically, in addition to making it possible to carry out procedures such as bankbook entry at the counter, change of address and name, etc., a Nanto Bank ATM = automatic teller machine will be installed at the post office.

It is assumed that one post office will undertake administrative procedures, and ATMs will be installed at multiple post offices, and the number of post offices will be increased while monitoring usage.

This is the first time for a bank to perform banking procedures at a post office.

With regard to local financial institutions, the challenge is how to maintain stores and ATM networks against the background of the declining population, and Nanto Bank will reorganize the store network.

On the other hand, Japan Post, which has 24,000 post offices nationwide, is seeking new sources of income as the delivery of letters and postcards has declined. There is an aim to increase commission income.

Japan Post said, “By promoting cooperation with local financial institutions, new customers can come to the market. If we hear from other regions, we would like to move forward.”