Technical woes slow shared ATM network in Japan

Technical woes slow shared ATM network in Japan
Tags: Bank / Credit Union, EFT Networks
April 4, 2004

TOKYO - Round-the-clock ATM services linking financial institutions across Japan will not start in May as scheduled due to technical woes that occurred earlier this year, according to a Kyodo News report.

An integrated ATM network linking major commercial banks, regional banks and shinkin banks was inaugurated on Jan 4. But the report, citing industry sources, said the new network developed a series of malfunctions.

Some cardholders could not use their cards at financial institutions other than those that issued the cards and others could not check their balances at member financial institutions, according to the report.