Rakuten Bank surpasses 13 million customer accounts

27/09/2022 News

Since it was established as an online bank in 2001, Rakuten Bank has been well-received by many individual, corporate and sole proprietor business customers. The number of Rakuten Bank accounts has now surpassed 13 million, and the bank recently surpassed 8 trillion yen in total balance of deposits surpassed at the end of June 2022.

Rakuten Bank has been working to strengthen its collaborations with other services offered by the Rakuten Group and to provide services enhance convenience and value for Rakuten Bank customers.

In addition to offering the convenience of easy accessibility 24 hours a day, 365 days a year, Rakuten Bank has also come up with a wide range of features to provide customers with greater convenience and value. For example, it offers the Happy Program for individual customers, which rewards them with Rakuten Points for signing up with the program and for each transaction, and waives ATM fees up to seven times per month and bank transfer fees up to three times per month. It also provides the Money Bridge service, which offers preferential interest rates on ordinary deposit accounts when users link their Rakuten Bank account with their Rakuten Securities account, and the Rakuten Bank app that allows customers to access almost all available services through their smartphone anywhere and anytime. For corporate customers, the bank also offers the Rakuten Bank Business Debit Card (JCB) that gives corporate customers 1% cashback on their card spending, and the Rakuten Bank Business Support Program that provides free access to part of its suite of partner services that are useful to businesses, such as invoice creation and expense settlement.

Furthermore, Rakuten Bank has been working to strengthen its collaborations with other services offered by the Rakuten Group and to provide services enhance convenience and value for Rakuten Bank customers. These include joining the Super Point Up program in July 2018, which scales up the number of points earned from shopping on Rakuten Ichiba for individual customers, and in anticipation of the advent of the cashless era, the launch of Rakuten Pay (payment through Rakuten Bank account) services inside the Rakuten Pay cashless payment app from January 2021, which directly deducts money from the user’s Rakuten Bank account balance immediately upon payment via Rakuten Pay without having to top up any money in advance.

In addition, to allow customers to use banking services more comfortably in their daily lives and to pay their electricity, gas, water, telephone, pension, credit card, and other bills easily online, Rakuten Bank is working steadily on its sales activities in order to increase the number of partner companies accepting such payments. At the same time, it has made available a wide range of payment methods that many customers are using, including bank transfers, Pay-easy, and the Rakuten Bank Convenience Store Payment Service (convenience store slip payment via the Rakuten Bank app). In February 2022, Rakuten Bank introduced an online identity verification service through the use of eKYC for individual customers opening an account with Rakuten Bank. With this convenient new service, it is now possible to open a new bank account as soon as the following day, allowing customers to begin using their new account in a timely fashion.

These initiatives have been well-received by customers and led to the latest milestone of 13 million Rakuten Bank accounts. Rakuten Bank will continue working to offer innovative and convenient products and services to customers.

Related news & insights

ESG
24/06/2024 Interview

Further Insights: The future of food – Addressing overconsumption and health

The way we produce food and the way we eat poses serious problems in terms of sustainable development and public...

24/06/2024 News

Revolut launches Pan-European loyalty program: RevPoints

This program allows Revolut customers to earn points on their everyday spending, which can be redeemed for rewards such as...

Digital Reinvention
22/06/2024 News

OCBC Securities launches Singapore’s first AI stock-picker to triple young investors

A.I. Oscar predicts stock price movements and generates personalized stock ideas. Following a successful pilot from October 2023 to April...

Insurance
20/06/2024 Interview

SWINZ: Award-winning insurtech giving insurance 'back to the people'

Didier Muréna is the co-founder of SWINZ. He won silver at the Qorus Innovation in Insurance Awards 2024 in the...

Mobility
20/06/2024 News

Superbank expands banking access to millions of Grab users and partners in Indonesia

This partnership allows millions of Grab users and partners to open accounts, save money, and use these accounts for payments...

SME Banking
20/06/2024 News

Societe Generale to sell subsidiary Shine to Ageras

This strategic move is part of Societe Generale's effort to streamline its operations and concentrate on its core retail banking...

19/06/2024 News

HSBC unveils new wealth centre to enhance client experience

This centre is the first of three that HSBC plans to establish in Singapore by Q1 2025, as part of...

SME Banking
18/06/2024 News

Brex launches new digital banking products for startups

These enhancements aim to provide greater saving flexibility and higher yields for startups. Partnering with Column N.A., Member FDIC, Brex...