UPDATE 1-Japan's MUFG Bank to introduce fees on dormant accounts from July
By Reuters Staff (Adds details on fees, statement from the bank, and background) TOKYO, Jan 22 (Reuters) - The banking unit of Japan’s Mitsubishi UFJ Financial Group Inc said on Friday it would introduce maintenance fees on dormant accounts from July, in a fee system overhaul to ride out the impact of profit decline. MUFG Bank, the country’s largest lender, said in a statement it will charge an annual fee of 1,320 yen ($12.74), including tax for new accounts in which transactions have not been made for two years since they are opened. The move comes as Japanese banks have been grappling w...
Source: reuters.com