Shinsei Bank to begin overseas remittance service
Shinsei Bank will launch Go Remit Overseas Remittance Service, a new service for transferring funds overseas, from March 4.
On June 12, 2012, Shinsei Bank reached an agreement with Lloyds TSB Bank in which Lloyds TSB will transfer ownership of its Japanese overseas remittance business to Shinsei Bank. The transfer process will be finalized on March 1. Following the transfer, Shinsei Bank will launch Go Remit as a new overseas remittance service for individual and business customers from March 4, further enhancing the bank’s remittance service offering.
Go Remit will offer all the convenience of the service provided hitherto by Lloyds TSB’s Tokyo branch under the Go Lloyds Overseas Remittance Service brand. Using the Go Remit service, customers will be able to make payments in Japanese yen and a selection of foreign currencies to a pre-registered beneficiary account overseas simply by transferring yen funds into a designated domestic account via an ATM or Internet banking service. As with the Go Lloyds service, the service fee is 2000 yen regardless of the amount remitted, and customers may make remittances to over 170 countries in 12 major currencies.
In anticipation of growth in the number of foreign residents living in Japan and the country’s burgeoning economic interaction with surrounding Asian nations, Shinsei Bank is building out its overseas remittance offering to meet growing customer demand for foreign currency related services.