Major banks to study mechanism to reduce transfer fees between individuals August 6 17:14

A major bank will work together to reduce transfer fees between individuals. In addition to the large-scale system currently used for exchanging money, we will begin to study the creation of a new mechanism for sending small amounts.

This was announced by Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Resona Bank and Saitama Resona Bank on the 6th.

According to this, the five banks will lead the study of a new mechanism that can transfer money with a lower amount than the current transfer fee when sending a small amount from a smartphone application between individuals.

When individuals transfer money to other bank accounts, a large-scale system called "Zengin System" is mainly used now.

However, it has been pointed out that the fees between banks that use this system have not changed for more than 40 years, resulting in high transfer fees paid by individuals.

Generally, if you transfer money to another bank using internet banking, for example, if it is less than 30,000 yen, it costs 220 yen including tax per case, and each bank will charge a fee in addition to the new mechanism in the future. The policy is to consider the level of.

Tadashi Kato, Deputy General Manager of Mitsubishi UFJ Bank's Settlement Promotion Department, said at the press conference, "We would like to call on regional financial institutions and payment service providers to participate widely, and build a payment infrastructure that is inexpensive and convenient for users."