Japan’s SMBC Nikko Securities Inc. to launch online money service

Japan’s SMBC Nikko Securities Inc. to launch online money service

68
0
SHARE

A new complimentary service will be launched for which the Sumitomo Mitsui Banking Corp will be cooperating with its subsidiary SMBC Nikko Securities Inc. The new complimentary service will allow the customers to transfer money online between their bank and securities accounts starting from October, 2012.

This will be the first time the major financial institutions have offered a service enabling the customers to link their banks and securities accounts to integrate asset management. On the purchase or selling of stocks, money can be automatically transferred between the bank accounts and securities accounts. In terms of cases in which additional security deposit is required, money can be automatically transferred to the customer’s security accounts.