Contents
- 1 What is Yucho Ginko (Japan Post Bank Co., Ltd.)?
- 2 Pros
- 3 Cons
- 4 Conclusion
What is Yucho Ginko (Japan Post Bank Co., Ltd.)?
Yucho-Ginko is a bank that privatized a bank section of “Japan Post”. In September in 2006, due to establishment of Postal Service Privatization Act, Yucho Co., Ltd. was established as a preparation company. It changed corporate name as Yucho Ginko (Japan Post Bank) in September in October in 2007. Yucho Ginko took over principally Bank business.
| ¥ | $ | |
|---|---|---|
| Revenue | ¥1,968,987,000,000 | $17,651,968,455.00 |
| Operating Income | ¥385,897,000,000 | $3,459,566,605.00 |
| Ordinary Income | ¥481,998,000,000 | $4,321,112,070.00 |
| Current Income | ¥325,069,000,000 | $2,914,243,585.00 |
| Total assets | ¥11,508,150,000,000 | $103,182,072,900.00 |
| Total equity | ¥207,056,039,000,000 | $1,856,464,445,674.00 |
| Number of Employees | 12,889 |
source: Yahoo Japan Finance
About investment performance
Yucho Ginko adopts the Asset Liability Management based on “Base Portfolio” aiming to secure stable profit and “Satellite Portfolio” aiming to pursue high return by international diversification investment.
Considering reduction of Base Portfolio balance affected by continuous historical low interest, it tackled with expanding a scope of foreign investments and raising foreign currency funds with a focus on investment grade bond.
In the result, it raised its asset management performance on “Satellite Portfolio” from 48 trillion yen in 2014 to 61 trillion yen 2015.
Pros
Nationwide community-based bank
Yucho-Ginko adopts a business model of “Super Regional & Super Global”, which provides community based service through a network of 233 company shops and 24000 post offices throughout Japan.
Yucho ginko is the biggest institutional funds in Japan. Total amount of asset investment in 2016 was 208 trillion yen. Its managing conditions are pretty good and financial conditions are pretty healthy.
27300 Yucho ATMs is placed in post office and convenience stores nationwide
You can diposit and withdraw at 27300 ATMs equipied in 24100 shops around Japan with no fee.
Moreover, 500 shops of “Family Mart” equip “Yucho ATM” in Metropolitan area and Kansai area, which you can deposit and withdraw for free.
If you have a cash card of Yucho Ginko, you can deposit and withdraw at more than 50,000 convenience stores anytime throughout Japan.
* ATMs equipped in convenience stores in Japan other than Yucho ATMs placed in “Family Mart” will take you transaction fee from ¥108 to ¥216 depending on the time you transact
Transfering between Yucho ATMs is free
If you transfer money into another saving account of Yucho Bank, you can transact for free.
International ATM Service (Withdrawals for cards issued abroad)
You can withdraw money with the credit card or cash card published by the overseas institution in Japan Post Bank ATMs. → to a page explaining international ATM service
Cons
An upper limit of you deposit is set to a saving account
I think aliens coming to work in Japan, who deposit more than 13,000,000 yen which is upper limit deposit are minority here in Japan.
Yucho Ginko set upper limit to the amount of money you can deposit in a saving account in contrast to other banks that set no limit to it.
If you deposit more than upper limit, your over-deposit money out of 13,000,000 yen will be automatically transferred into a “transfer account” which is generally known as “checking accounts”
One of the functions of ATM transaction has partially limitation in operating time
Mainly, ATMs placed in a post office have possible transaction and impossible transaction depending on the time and the date. However, ATMs placed in “Family Mart” has no limitation on ATM transaction.
This time, I will just talk about transaction you can make in a saving account, which you use an ATM simply for withdrawing and depositing money. If you want to know more about transaction time zone in terms of other functions, please visit to Yucho Ginko’s website.
Available time zone of ATM placed in Post Office
| Day | Withdraw | Deposit |
|---|---|---|
| Ordinary day | 24 hours | 7:00 a.m. to 9:00 p.m. |
| Saturday | 24 hours | 7:00 a.m. to 5:00 p.m. |
| Sunday, national holiday | 24 hours | 9:00 a.m. to 5:00 p.m. |
Availability time zone of ATM placed in a convenience store
But ATMs placed in “Family Mart” have no limitation to time zone. You can withdraw and deposit money anytime you want. It operates for 24 hours
Transaction fees will cost you by convenience store ATMs other than Yucho ATM
Please remember convenience based Yucho-ATM you can use for free is only installed in “Family Mart” in Tokyo area and Kansai area. And only 500 ATMs are installed in the conveniece stores so of course, there are a lot of shops which don’t install Yucho-ATM.
This is Yucho ATM!!
Instead, you will probably find ATMs managed uniqely by convenience store brands, fundraised financial company and a regional bank such as
- Seven Bank managed by Seven & I holdings (convenience store)
- Lawson Bank managed by Lawson(convenience store)
- E-net managed by fundraised financial company (financial institution)
- IEon Bank managed by IEon (shopping mall)
- Zero Bank and Bank Time managed by a regional bank (Bank)
If you use above ATMs in a convenience store other than Yucho ATM, it will take you transaction fee as often as you use. Fees costing you per transaction is not so big but don’t forget many a little makes a mickle. If you use these ATMs twice a week continuously, you will need to pay about 10000 yen for a year to just withdraw your money.
Transaction fee table
This table is quoted from transaction fee of “Seven Bank ATM” to Yucho Ginko. Generally, most of ATMs installed in convenience stores adopt the above fee system.
Transaction fee on Monday to Friday from 8:45 a.m. to 6:00 p.m. and on Saturday from 9:00 a.m. to 2 p.m. is 108 yen.
In other time zone except for “out-of-service” will cost you 216 yen. In terms of balance inquiry, you can use it for fee anytime.
This transaction fees rate differs depending on the bank. It is obvious if you open a saving account at a bank that manages one of these ATMs, you can use ATM for free and if a bank which you have an account affiliates with a bank managing one of these ATMs, you can use it relatively cheeper than any other bank accounts you have.
However, Yucho-ginko has already affiliated with major convenience stores to install its ATMs and there are 500 ATMs in Tokyo area and Kansai area in total.
If you don’t live in such places, there are 27300 post offices all around Japan, you can find ATM with at least 10 minute walk near where you live unless you live in terrible remote places that force you to make living in a primitive way
There is no reason to use other company’s ATM. Save your money from wasteful transaction fee in a convenience store.
Conclusion
The predecessor of Yucho Ginko used to be one section of Japan Post managing post offices all over Japan. Its business closely relates to citizen’s everyday life so the overview of business concept is that your neighbor post office will take care of your letter and money.
So asset management aiming to gain profit doesn’t fit to its concept but Yucho Ginko is a commoners’ wallet to withdraw and deposit whenever they want. This bank is suitable for maintaining your living funds without expecting interest in return.
If you want to make a profit by interest on savings, there is quite a lot banks in the world more suitable for managing your asset rather than Japanese banks. If you live in Japan for a while, It’s pretty enough to use Yucho-Ginko as temporary storage space for your living funds during your stay.
What function do you actually need except for withdrawal and deposit? It’s enogh.