October 11, 2000
The Japan Net Bank, Limited
Launch of Japan's first "Internet Specialized Bank"
The Japan Net Bank, Limited (Yoshiyuki Miyai, President) will start business at 9 a.m. (Japan Standard Time) on October 12, 2000, as the first "Internet Specialized Bank" in Japan.
Japan Net Bank (JNB) aims to be the de facto standard of the Japanese style "Internet Specialized Bank", which will adapt to the 21st century's Internet community, by focusing on the following points:
| 1) |
Offer competitive interest rate and fee schedule through pursuing a low cost structure. |
| 2) |
Develop and create a new market separately from the frame of the existing market shares among banks. |
| 3) |
Provide speedy and creative banking services for satisfying customers' needs, by fully utilizing "Information Technology". |
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JNB will make every effort to provide financial functions which will contribute to the sound development of the national economy and to the improvement of customers' convenience.
The followings are JNB's outlines (including its URL and the telephone number of the customer center), main financial products and the interest rate and fee schedule.
1. JNB's Outlines
| Name of Company |
Kabushiki Kaisha Japan Net Ginko
(English Name: The Japan Net Bank, Limited) |
| Representative |
Yoshiyuki Miyai, President |
| Head Office |
1-1, Nishi-shinjuku 2-chome, Shinjuku-ku, Tokyo
(6th Floor of Shinjuku Mitsui Building) |
URL
Telephone Number |
http://www. JapanNetBank.co.jp
0120-369074 (Customer Center) |
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2. Main Financial Products
(1) Ordinary Deposit (for individual customers)
| Deposit Unit |
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1 yen (Accounts will be opened with zero balance.) |
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Minimum Balance and
Unit of Paying Interest |
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Interest will be payable on the final daily balance of 10,000 yen or over (in units of 1 yen). |
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| Calculation of Interest |
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Calculation base: Interest will be calculated on the basis of a 365-day per year and by the day. |
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Payment of interest: Interest for a month will be calculated at the end of the month and credited to the account at the beginning of the following month. |
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| How to Deposit |
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Deposit cash at tied-up ATMs and at the counter of the head office. |
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Deposit funds by transfer from JNB and other financial institutions. [Note 1] |
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| How to Withdraw |
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Withdraw cash at tied-up ATMs and at the counter of the head office. |
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Transfer funds to JNB and other financial institutions. [Note 1] |
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Transfer funds to the term deposit account. |
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Transfer funds by automatic account transfer. |
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Automatic Account
Transfer |
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Payment of utility charges, etc. by automatic account transfer is available. |
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| Cash Card |
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Cash cards will be issued for depositors. |
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| Passbook |
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No passbooks will be issued. |
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Account statement can be seen by depositors through Internet at any time for 24 hours. [Note 2] |
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Account Maintenance
Charge |
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1,050 yen per month (free of charge during the campaign period from October 12, 2000 to March 31, 2001) |
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Free of charge for the month of opening account and the following month |
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Free of charge, if the total average balance of the ordinary deposit and term deposit accounts is 300,000 yen or over in the previous month. |
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| ATM Charge |
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Credit charge: Free of charge for 24 hours |
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Debit charge: (Up to 3 times in a month) Free of charge for 24 hours
(After the 4th time in a month) 157 yen (including consumption tax) flat per transaction for 24 hours
If the total average balance of the ordinary deposit and term deposit accounts in the previous month is 1,000,000 yen or over, debit charges up to 5 times in the month will be free for 24 hours. |
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Favored Transfer
Charge |
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Fund transfer charges up to 5 times in the month will be free, if the total average balance of the ordinary deposit and term deposit accounts is 30,000,000 yen or over in the previous month. (Excluding transfers operated at tied-up ATMs) |
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| (Note 1) |
Fund transfer to or from other financial institutions is scheduled to start from November 2000. |
| (Note 2) |
There might be some cases in which the inquiry service is not available due to file maintenance jobs of the system, etc. |
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(2) "Net" Term Deposit (for individual customers)
| Depositing Period |
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1 month, 3 months, 6 months, 1 year, 2 years, and 3 years |
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Designated maturity (not more than 3 years but not less than 1 month) |
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| At Maturity |
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Automatic renewal (interest added to principal): After accrued interest is added to principal, the term deposit account will be renewed for the same period in new increased amount. |
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Automatic renewal (interest not added to principal): After accrued interest is credited to the ordinary deposit account, the term deposit account will be renewed for the same period in original amount. |
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Automatic settlement: Principal and accrued interest will be credited to the ordinary deposit account. |
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| Renewal Advice |
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After renewal, depositors will be informed of details by e-mail. |
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Deposit Amount and
Deposit Unit |
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Deposit amount: not less than 100,000 yen |
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Deposit unit: 1 yen |
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| Guarantee |
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Principal will be guaranteed. |
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| How to Deposit |
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Transfer funds from the ordinary deposit account. |
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| How to Settle |
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Deposit can be settled as follows;
Settlement at maturity: Automatic settlement stated above Settlement before maturity: Deposit can be settled by Internet and principal and accrued interest will be credited to the ordinary deposit account. |
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| Interest Rate |
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Calculation and
Payment of Interest |
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Calculation base: Interest will be calculated on the basis of a 365-day per year and by the day and compounded semiannually (in units of 1 yen). |
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Payment of interest: Lump sum payment at maturity |
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| Taxes on Interest |
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3. Interest Rate
(1) Ordinary Deposit 0.20%
(2) "Net" Term Deposit As of October 12, 2000
| 1month |
3month |
6month |
1year |
2year |
3year |
| 0.25% |
0.25% |
0.30% |
0.40% |
0.40% |
0.45% |
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4. Charge
(1) Transfer Charge (including consumption tax)
| |
Transfer to JNB |
Transfer to other banks
(telegraphically) |
| Less than 30,000 yen |
52 yen |
168 yen |
| 30,000 yen or over |
262 yen |
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| (2) Account Maintenance Charge and ATM Debit Charge (segmentation by balance)
(including consumption tax)
| Total average balance of all accounts in the previous month |
Less than 300,000 Yen |
300,000 yen or over but less than 1,000,000 yen |
1,000,000 yen or over |
| Account Maintenance Charge |
1,050 yen per month |
Free of charge |
Free of charge |
| ATM Debit Charge |
Free of charge (up to 3 times in the month) |
Free of charge (up to 3 times in the month) |
Free of charge (up to 5 times in the month) |
Copyright(C)2000 THE SAKURA BANK, LIMITED |
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