Basic Information of
the BankSony Bank was established on June 11, 2001 and is headquartered in Nishikicho, Chiyoda-ku, Tokyo, Japan. As a wholly owned subsidiary of Sony Group and part of Sony Financial Holdings, Sony Bank is a purely online commercial bank with no physical branches and its own ATM. With an initial capital of 37.5 billion yen, it was initially 80% owned by Sony Corporation, 16% by Sumitomo Mitsui Banking Corporation and 4% by JPMorgan Chase. By 2008, Sony Bank became a wholly owned subsidiary of Sony Financial Holdings.
Scope of ServicesSony
Bank is an online-only bank that provides its services primarily through its website and mobile app. Although it does not have its own ATM network, customers can use its approximately 7,600 ATMs to make transactions through a partnership with Sumitomo Mitsui Banking Corporation.
Regulation & ComplianceAs
a commercial bank in Japan, Sony Bank is regulated by the Financial Services Agency (FSA) and participates in Japan's deposit insurance program to ensure the safety of customer deposits. So far, there have been no public reports of any major compliance issues with Sony Bank.
Financial healthWhile
Sony Bank's specific financial data is not disclosed, its financial position as part of Sony Financial Holdings is supported by its parent company. Sony Financial Holdings' consolidated assets totaled approximately 6.9 trillion yen in 2020, demonstrating its strong financial strength.
Deposits &
LoansDeposits:
Sony Bank offers a wide range of Japanese yen and foreign currency deposit products, including demand and time deposits. It has a wide range of foreign currency deposits, covering multiple currencies such as US dollars, euros, Australian dollars, etc., with competitive interest rates, suitable for customers with foreign currency needs.
Loans:
Sony Bank provides housing loans, credit card loans and other products. Its home loan interest rates are competitive and offer flexible repayment options to suit customers with different needs.
List of Common FeesSony
Bank's account management fees and transfer fees are relatively low and can be waived under certain conditions. Interbank ATM withdrawals may incur fees depending on the ATM network used. In addition, Sony Bank has a more lenient minimum balance requirement for the account, which is suitable for a wide range of customers.
Digital Service ExperienceAs
a pure online bank, Sony Bank excels in digital services. Its mobile app and online banking platform are user-friendly and fully functional, supporting facial recognition, real-time transfers, bill management, and more. In addition, Sony Bank is actively adopting technologies such as AI customer service and robo-advisors to enhance customer experience.
Quality of Customer ServiceSony
Bank offers a variety of customer service channels, including 24/7 phone support, live chat, and email, among others. Its customer service is responsive, problem-solving efficient, and user satisfaction is high. In addition, Sony Bank also provides online banking services with an English interface, which is convenient for foreign customers.
Security MeasuresSony
Bank attaches great importance to the security of customer funds and data. Its deposits are protected by the Japan Deposit Insurance Program, and the safety of customer funds is guaranteed. In terms of data security, Sony Bank uses advanced encryption technology and security protocols to ensure the security of customer information.
Featured Services & DifferentiationSony
Bank has an advantage in foreign currency deposits and investment products, providing multi-currency deposit options and a wide range of investment products to meet the diverse needs of customers. In addition, Sony Bank offers customized services for specific customer groups, such as private banking services for high-net-worth clients.
