MUFG, Sumitomo Mitsui to Share ATM Operations from September

Economy

Tokyo, June 28 (Jiji Press)--MUFG Bank and Sumitomo Mitsui Banking Corp. will make some of their automated teller machines available to each other's customers, starting on Sept. 22, informed sources said Friday.

The scheme by the two major Japanese banks will affect ATMs in about 2,800 locations, including in front of train stations and in commercial facilities, not in bank branches.

Customers from one bank will be allowed to withdraw cash from ATMs of the other bank free of charge during the daytime on weekdays, the sources said.

This will be the first sharing of ATM services between Japanese megabanks, and is designed to improve customer convenience and help the banks cut ATM maintenance costs.

In line with the move, MUFG and Sumitomo Mitsui will close ATMs in a total of 600 to 700 locations, saving them several billion yen annually each, the sources said.

[Copyright The Jiji Press, Ltd.]

Jiji Press