Mizuho Bank to Reduce Transfer Fees to Other Banks by Up to 120 Yen

Mizuho Bank, Ltd. has announced that it will lower its fees for transferring money to other banks' accounts through ATMs and Internet banking by up to 120 yen from October this year. Now that all the major banks have lowered their fees, it is expected that the trend of lowering fees will spread to regional banks as well.

Three major banks to cut prices

Mizuho Bank, Ltd. will lower its bank transfer fees from October 1, 2012, in line with a reduction in fees for money transfers using a common system among banks.

Among them, the fee for transferring money from ATMs (automatic teller machines) and store counters to other banks' accounts will be reduced by 60 yen for transfers of less than 30,000 yen and 110 yen for transfers of 30,000 yen or more.

As a result, the transfer fee for using a cash card at an ATM will be reduced to 270 yen for transfers of less than 30,000 yen and 330 yen for transfers of 30,000 yen or more.

The fee for transferring money to another bank's account through online banking will be reduced by 70 yen to 150 yen for transfers of less than 30,000 yen, and by 120 yen to 320 yen for transfers of 30,000 yen or more.

So far, Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corporation have announced price reductions of up to 110 yen.

Now that the three major banks have announced their price reductions, it is expected that regional banks will also start to reduce their transfer fees.

Source: https://www3.nhk.or.jp/news/html/20210714/k10013138921000.html?utm_int=news-business_contents_list-items_003