Japanese Megabanks Working To Allow Cash Withdrawals Via Foreign-issued Credit Cards

Above, a Japanese ATM sign featuring Astro Boy in Niigata.  Photo by Armand Vaquer.

Japan is generally a cash-only country with virtually no usage of personal checks and limited use of credit cards. Very few ATMs will accept American debit or credit cards, so visitors have to bring plenty of cash to spend on their visits.

In an effort to be more visitor-friendly, three major Japanese banks are working to accept foreign credit cards in their ATM machines.

According to the Mainichi Shimbun:

TOKYO (Kyodo) -- Japan's three megabanks are working to allow foreign tourists visiting the country to withdraw cash at ATMs using their credit cards issued overseas, bank officials said Wednesday. 

The move by Sumitomo Mitsui Banking Corp., the Bank of Tokyo-Mitsubishi UFJ Ltd., and Mizuho Bank Ltd. is part of efforts to improve convenience for tourists visiting Japan ahead of the 2020 Tokyo Olympics. 

Sumitomo Mitsui will start enabling holders of foreign credit cards to withdraw cash and make a balance inquiry at its ATMs as early as fiscal 2015 after replacing credit card reader devices and modifying software programs, officials said.

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