What to make of many changes in banking
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cabbie
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All the better for the government and banks to control your money when they declare a state of emergency.
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I'd like to know this - a lot have pulled out or have been transformed into branches instead of separate entities.
TheScientist
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Press Release April 3, 2017
Citi Commences Banking Operations in Japan from Citibank, N.A., Tokyo Branch
Tokyo, Japan – Citi announced today that it has successfully completed the transfer of all operations and personnel of Citibank Japan Ltd., a locally incorporated bank subsidiary, to a newly established Tokyo Branch of Citibank, N.A., following receipt of all governmental and other required approvals. Beginning April 1, 2017, Citi’s banking operations in Japan are being conducted exclusively from Citibank, N.A., Tokyo Branch.
Providing banking products and services through a local branch of Citibank, N.A., Citi's primary bank subsidiary, will enhance Citi’s ability to serve its Japanese and other multinational clients, particularly those clients that value Citi’s global network. It also will allow Citi to operate its local banking business in a more capital-efficient manner.
Citi has a proud 115-year history of providing banking products and services to institutional clients in Japan. Today's announcement further demonstrates Citi’s commitment to serving its Japanese institutional clients, both here and around the world, and providing them with innovative solutions.
Citi Commences Banking Operations in Japan from Citibank, N.A., Tokyo Branch
Tokyo, Japan – Citi announced today that it has successfully completed the transfer of all operations and personnel of Citibank Japan Ltd., a locally incorporated bank subsidiary, to a newly established Tokyo Branch of Citibank, N.A., following receipt of all governmental and other required approvals. Beginning April 1, 2017, Citi’s banking operations in Japan are being conducted exclusively from Citibank, N.A., Tokyo Branch.
Providing banking products and services through a local branch of Citibank, N.A., Citi's primary bank subsidiary, will enhance Citi’s ability to serve its Japanese and other multinational clients, particularly those clients that value Citi’s global network. It also will allow Citi to operate its local banking business in a more capital-efficient manner.
Citi has a proud 115-year history of providing banking products and services to institutional clients in Japan. Today's announcement further demonstrates Citi’s commitment to serving its Japanese institutional clients, both here and around the world, and providing them with innovative solutions.
MikeH
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Last year one of my European banks cut me off from their stock trading services without any notices. When I inquired about it they said new Japanese laws state they cannot offer stock trading to anyone residing in Japan because they don't have brick and mortar operations in Japan.
Maybe be Citi coming back is related to this?
Maybe be Citi coming back is related to this?
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Yea, Citi closed their local Japan business and converted to a branch. Read it carefully.
Citibank Japan Ltd. gave up the operations to a new 'branch' operation.
They previously sold off their cards and consumer banking divisions to a Japanese bank.
That doesn't equal coming back....
Citibank Japan Ltd. gave up the operations to a new 'branch' operation.
They previously sold off their cards and consumer banking divisions to a Japanese bank.
That doesn't equal coming back....
CharlieSimms
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Institutional clients... This is not restoring the ATM. Citi has never stopped servicing institutional clients here. Speaking of servicing clients with ATM...
Frenchy
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Well it's SMBC Prestia now and I didn't notice any worsening or improvement in service . As always they are completely maniac about the smallest error in a form that you need to handfill yourself (unlike that great technologically advanced country of ... gasp... France , where usually you just need to read and sign a print-out)
CharlieSimms
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@Frenchy Handfillng yourself is the key to financial success indeed. There is some saying in Japan I believe about enjoying the ladies and eating cold rice.
But seriously, all these insights into the financial workings of the world are hurting your image I think as the casual boy toy gigolo to the TAG ladies community...
But seriously, all these insights into the financial workings of the world are hurting your image I think as the casual boy toy gigolo to the TAG ladies community...
Frenchy
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@Frenchy Handfillng yourself is the key to financial success indeed. There is some saying in Japan I believe about enjoying the ladies and eating cold rice.
But seriously, all these insights into the financial workings of the world are hurting your image I think as the casual boy toy gigolo to the TAG ladies community...
How do you dare ?! This is such an awful cliche to assume that a gigolo is not aware of the wider world and not savvy with his finances! Stop judging us like that ! You're bad bad bad sexist Charlie!
CharlieSimms
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I have been a bad boy Frenchy! Please feel free to send your SB over tout de suite to enact the hands of your discipline.
Frenchy
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Ah ah, well shes not in town now and i feel all bluesy lonely, sigh... missing the whip alreadyI have been a bad boy Frenchy! Please feel free to send your SB over tout de suite to enact the hands of your discipline.
cabbie
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I made the switch from Citibank to Shinsei not long before Citibank pulled out. Far better service IMO and a bit more flexible with errors.
Citibank is the only card I can use in Japan or any country without costing me a shitload in fees.. In fact no fee at all with 7/11 ATMs...so im very happy here.
The biggest pain in the arse though, was the process of creating an account which took over 3 weeks(done a few years ago) . There was an online application, branch ID verification where u show lots of ID fill out quite a few paper forms, sign some stuff which they scan and send off to another office. My one got rejected because signature didn't exactly match my drivers license... my the drivers license signature was scanned in 5 dpi.. So I had to redo the whole process again from start. Also the turnaround time between each step is at least a few business days.
My application for passport was much less frustrating ...
The biggest pain in the arse though, was the process of creating an account which took over 3 weeks(done a few years ago) . There was an online application, branch ID verification where u show lots of ID fill out quite a few paper forms, sign some stuff which they scan and send off to another office. My one got rejected because signature didn't exactly match my drivers license... my the drivers license signature was scanned in 5 dpi
.. So I had to redo the whole process again from start. Also the turnaround time between each step is at least a few business days. My application for passport was much less frustrating ...