[Bank withdrawal regulation ?] JP 6th largest bank Shinsei to ban withdrawal from ATM outside of JP

(Before It's News)

A Japanese bank, Shinsei bank is going to ban withdraw cash from ATM outside of Japan from 6/1/2013.

Shinsei bank has the 6th largest sales in Japan, which is 413 billion yen annually. (2011)

They state the restriction is to prevent iniquitous withdrawal overseas. The account holders were allowed to withdraw up to 100,00 JPY per day from ATM outside of Japan.

The accounts covered are

1. Opened before 5/31/2008, no usage of ATM overseas from 6/1/2008 to 5/31/2013.
2. Opened from 6/1/2008 to 11/30/2012, no usage of ATM overseas until 5/31/2013.
3. Opened after 6/1/2013.

In order to lift the regulation, customers need to make a phone call or change the setting on the internet banking.

http://www.shinseibank.com/info/news130401_international.html

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