Japanese Regional Banks' 24 Hours Transfer Successful so far

The usage of internet shopping has been increasing in these days and some of regional banks have started introducing service which allows individuals to transfer money at any time.

In the most of the Japanese banks, it takes time for the transaction of transferring money. Even on the normal working days, if your transaction is after 3 p.m. it will be done in the morning of the following working day. On public holidays and Saturdays or Sundays, the transaction will be done only in the next working day.

In order to change this inconveniences caused by this system of transferring money, some regional banks have stood up from the beginning of this year.

Major finance group of Risona Group, Bank of Kyoto and other 12 local banks has introduced a new system. It allows individual users to transfer money at any time of the day by providing 24 hours service including public holidays.

As a result of this, more than half of money transfers are now being done during the night time and weekends in Risona Group. The feedback of this new system is positive and they will start introducing it not only to individuals but also for companies. Satoshi Inoue, from the bank of Risona says to NHK, "This new service has been used for many purposes such as internet shopping and sending money to pay for your houses and apartments. The number of money transfer is also increasing. I believe there will be new demands created by this service."

This service is only available within the same bank or groups at this moment. However, there are plans which will be introduced in three years time. It will enable any transaction to be done at any time by 24 hours service regardless of bank groups. Japanese massive banks are also under consideration for this kind of services.