Rakuten Bank has unveiled Japan’s first money transfer service via Facebook, which will allow money transfers to anyone on the user’s Facebook friend list leveraging the Rakuten Bank app.
Known as "Transfer by Facebook," the service allows the sender to remit money without the recipient’s bank, branch, or account information. Currently, only Japanese yen can be transferred.
Transfer by Facebook also enables transfer to those without a Rakuten Bank account. In order to avail this facility, the user will have to access a URL on Facebook with the transfer notice, after which, the recipient is able to specify a bank account for the money.
In addition, a message of up to 50 characters can be sent together with the transfer. The bank does not levy transfer fees when sending money to a Rakuten Bank account linked to a Facebook account.
The sender or recipient can easily check the transaction history. The Rakuten Bank app is available for download for free from App Store and Google Play.