Japan Post Bank

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Japan Post Bank Co., Ltd. (??????????, Kabushiki-gaisha Y?-cho Gink?, commonly abbreviated to ?????? (Y?-cho Gink?), or just ???? (Y?-cho)), is a Japanese bank headquartered in Tokyo which is part of the Japan Post Holdings postal and financial services group.

As of November 2008 it was reported as being the world's biggest deposit holder. It is one of only two banks to have branches in every prefecture in Japan, the other being Mizuho Bank.

Video Japan Post Bank

History

Postal savings was introduced to Japan in 1875 and operated as a government department until privatization of the postal service was passed under the government of Prime Minister Junichiro Koizumi.

The bank was established on 1 September 2006, as part of the reorganisation of Japan Post into Japan Post Holdings.

Prior to 2009, Japan Post was not connected to the Japanese Bankers Association (Zenginkyo) payment processing network, making it impossible to wire money directly between Japan Post and most other Japanese banks. Japan Post Bank joined the network in January 2009 and became a full JBA member in October 2011.

Maps Japan Post Bank

Products

Unlike most commercial banks, Japan Post Bank is primarily a savings institution. Its only loan products are overdraft lines secured by time deposits and Japanese government bonds on deposit with the bank.

Japan Post Bank offers a nationwide ATM network which can be used to withdraw money with international bank cards and credit cards. Japan Post Bank has a contract with Standard Chartered Bank to facilitate wire-transfer remittances of funds internationally.

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See also

• Yucho

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References

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External links

• Japan Post Bank (in English)

Source of article : Wikipedia