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▼ Japan Payments Clearing System Disruption Impacts 11 Banks
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Japan's payments clearing network suffered a system problem Tuesday, disrupting some fund transfers at 11 banks including MUFG Bank and impacting their customers, the network's operator said.
Japanese Banks' Payment Clearing Network said it was unclear what went wrong and when the problem would be fixed. It is the first time that bank customers have been impacted by a system problem since the network was launched in 1973.
Resona Bank and JPMorgan Chase Bank were among those hit, the operator said.
Both Mizuho Bank and Sumitomo Mitsui Banking Corp. said they were experiencing delays in transferring money to and from some banks.
MUFG Bank said money transfers to other banks via ATMs, including those at some convenience stores, and online banking could not be processed. The Japanese megabank added it was also unable to receive funds transferred from those banks.
Resona Bank said funds could not be transferred to other banks, warning it was possible such transactions not be completed Tuesday.
Most Japanese banks are connected to the key payment network, known as the Zengin system, which processes an average 6.5 million transactions and over 12 trillion yen ($81 billion) a day.
Japanese Banks' Payment Clearing Network said it was unclear what went wrong and when the problem would be fixed. It is the first time that bank customers have been impacted by a system problem since the network was launched in 1973.
Resona Bank and JPMorgan Chase Bank were among those hit, the operator said.
Both Mizuho Bank and Sumitomo Mitsui Banking Corp. said they were experiencing delays in transferring money to and from some banks.
MUFG Bank said money transfers to other banks via ATMs, including those at some convenience stores, and online banking could not be processed. The Japanese megabank added it was also unable to receive funds transferred from those banks.
Resona Bank said funds could not be transferred to other banks, warning it was possible such transactions not be completed Tuesday.
Most Japanese banks are connected to the key payment network, known as the Zengin system, which processes an average 6.5 million transactions and over 12 trillion yen ($81 billion) a day.
- October 10, 2023
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