ATMs more Common in Convenience Stores than Banks

Back to Contents of Issue: July 2002

CONVENIENCE STORES ARE QUIETLY becoming the place to find an automated teller machine, or ATM, in Japan. More than 3,000 7-Eleven stores have ATMs, reports the Nikkei Shimbun, while commercial giant UFJ only has about 2,000. As many as 16,000 convenience stores have ATMs, the business newspaper says.

Tokyo Mitsubishi Bank has already announced that it will reduce its 800 ATMs by 100 and has made alliances with Lawson and Family Mart so that customers won't have to pay fees when they withdraw money from ATMs in those convenience stores. Tokyo Mitsubishi will pay these stores JPY150 per transaction, making it cheaper than maintaining its own ATMs, according to bank calculations.

UFJ is taking a different path. The bank plans to keep all its ATMs and make handling fees more expensive at convenience store ATMs.

Note: The function "email this page" is currently not supported for this page.