Mizuho Bank to Charge 1,100 Yen for New Paper Passbook

Economy

Tokyo, Aug. 21 (Jiji Press)--Mizuho Bank said Friday it will start charging new users 1,100 yen for a new account passbook in January 2021, the first such move by a major Japanese bank.

The bank, the core unit of Mizuho Financial Group Inc. <8411>, aims to encourage customers to go digital for added convenience for them and operational efficiency.

Subject to the charge will be people under the age of 70 and corporate clients who open a new account from Jan. 18 next year onward.

On the same day, Mizuho Bank will start offering digital passbooks in which users will be able to view account activities over the past 10 years on their smartphones and computers.

People newly opening bank accounts will be able to choose between a paper passbook and a digital one. They will be charged for the physical version.

[Copyright The Jiji Press, Ltd.]

Jiji Press