By The Yomiuri Shimbun

Japan's three megabanks are considering jointly operating automated teller machines, it was learned Wednesday.

MUFG Bank Ltd., Sumitomo Mitsui Banking Corp. and Mizuho Bank Ltd. aim to reduce costs associated with ATM installation and maintenance as fewer customers utilize ATMs due to cashless payments becoming more common.

Since 2019, MUFG Bank and Sumitomo Mitsui Banking have had a "mutual access" system, which allows the banks' account holders to use the other bank's ATMs that are not located within the other bank's branches or main office for free during certain hours. If the three banks reach an agreement, Mizuho Bank will join this framework.

Mizuho has asked the company responsible for its ATM system to examine the feasibility of such joint operations, according to sources. The three banks began discussions this spring and aim to start such joint operations next year or later.

In addition to sharing ATMs, the three banks are also considering more comprehensive joint operations, such as standardizing cash replenishment processes.

Each bank faces the challenge of reducing costs amid declining ATM usage, and joint operations among the three banks could facilitate cost reductions in urban areas, where branches and ATMs of different banks are located near each other. In areas with few ATMs, the initiative is also expected to benefit customers of all three banks by increasing the number of accessible ATMs.

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This article is from The Yomiuri Shimbun. Neither Dow Jones Newswires, MarketWatch, Barron's nor The Wall Street Journal were involved in the creation of this content.

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June 05, 2025 01:33 ET (05:33 GMT)

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