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December 12, 2013

Three Japanese banks to enable foreign credit cardholders to withdraw cash

Three Japanese banks, Sumitomo Mitsui Banking, the Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank, will allow foreign tourists holding credit cards issued overseas to withdraw cash at local ATMs.

By Verdict Staff

Three Japanese banks, Sumitomo Mitsui Banking, the Bank of Tokyo-Mitsubishi UFJ and Mizuho Bank, will allow foreign tourists holding credit cards issued overseas to withdraw cash at local ATMs.

Previously, the overseas-issued credit cards were only accepted at ATMs of banks such as Japan Post Bank and Seven Bank, as the specifications of credit cards issued in Europe, North America and other Asian countries were different from that in Japan.

The move by the three banks is part of efforts to improve convenience for tourists visiting Japan for the upcoming 2020 Tokyo Olympics.

Among the three banks, Sumitomo Mitsui will replace the credit card reader devices and modify the software programmes at its ATMs to allow foreign credit card holders to withdraw cash and check balance by 2015.

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