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Yucho (ゆうちょ, Yūcho) is an interbank network in Japan, owned and operated by the postal savings division of Japan Post Bank.It counts some 26,519 ATMs, of which 23,500 are at post offices and 2,869 are away from post offices.
Japan being one of the worlds' major industrialised countries, its major financial bodies are commercial banks, Japan also has foreign exchange companies, securities, and capital markets. The government-owned institutions inject funds into the economy and money markets for liquidity and also help the Bank of Japan to apply the monetary policy .
Seven Bank began accepting foreign-issued ATM and credit cards in June 2007. Cards with Visa, Plus, American Express, Discover, JCB, Diners Club or China UnionPay logos on them are all accepted to withdraw yen from the machines. [3] [4] In December 2009, Seven Bank discontinued ATM services for MasterCard, Maestro and Cirrus cards.
The Global ATM Alliance is a joint venture of several major international banks that allows customers of their banks to use their automated teller machine (ATM) card or debit card at another bank within the alliance with no international ATM access fees. Other fees, such as an international transaction or foreign currency fee, may still apply ...
The main elements of Japan's financial system are much the same as those of other major industrialized nations: a commercial banking system, which accepts deposits, extends loans to businesses, and deals in foreign exchange; specialized government-owned financial institutions, which fund various sectors of the domestic economy; securities companies, which provide brokerage services, underwrite ...
Japan has become one of the world's most difficult countries to enter and some are comparing it to the locked country, or “sakoku," policy of xenophobic warlords who ruled Japan in the 17th to ...
The postal savings system in Japan was started in 1875 by Maejima Hisoka, who is known as "the father of the Japanese postal system." [7] [8] Before he founded the postal system as a whole four years before in 1871, Maeijima had spent time observing the postal system of the United Kingdom and was impressed by its offering of postal savings services.
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