Increase Fees: Bank and Rates

increase fees: Costs to manage accounts and to monitor them to prevent fraudulent deposits and withdrawals have also risen, according to The Japan Times. Mizuho Bank raised its fees for over-the-counter money transfers to 400 to 900 in November, an increase of 100 to 200. The moves reflect a tougher business environment amid prolonged low interest rates as well as higher costs for labor and money-laundering prevention. ; Gaps between lending rates and deposit rates have shrunk due to the negative interest rate policy of the Bank of Japan, which reduced bank revenues on lending. The bank also plans to increase fees for such transactions using ATMs next year. RELATED STORIESReport names Japan's top three mega-banks as the world's biggest lenders to coal plant developers Line starts bank transfer service via smartphone payment platform MUFG Bank is mulling an annual fee of 1,200 for accounts showing no transactions for two years, officials said. In December, Sumitomo Mitsui Banking Corp. started charging customers for deposits of 301 or more coins over the counter. (news.financializer.com). As reported in the news.