Five banks, including Mega Bank, will jointly establish a new company that will allow you to use your smartphone to send money at a lower fee than ATMs = automated teller machines.

The new company will be established by Resona Bank and Saitama Resona Bank in July, in addition to Mega Bank of Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation and Mizuho Bank.

By using a dedicated smartphone app, users will be able to provide a service that allows them to send money at a lower cost than ATMs, which cost hundreds of yen each time.

The upper limit of the remittance amount is assumed to be about 100,000 yen at a time, and we are aiming to start the service from early next year.

Last year, five banks announced that they would consider a new mechanism to allow small transfers of passengers at relatively low rates.

Apart from the services of the new company, major banks and others are considering reviewing the transfer fee, considering that the fee for remittance on the interbank system will be reduced in October, and for customers. Is expected to lead to improved convenience in the future.