Verifiying Identity & Purpose of Transaction by Yucho

Hi Smiles friends! Welcome back to our Japan 101 series. Today we are going to share about Yucho Bank.

In recent years, the importance of money laundering and countering terrorist financing measures has grown in the international community. Therefore, all financial institutions are taking various measures in cooperation with related ministries and agencies. As for JP Bank, they regularly check on customers transactions. Also, they started sending letter to verify your identity and purpose of transaction but not everyone will receive it.

JP Post Bank

Purpose of verification
Prevent unauthorized money laundering or trading of Yucho Bank cards.

Method of verification
The post office will send a letter to the address you have registered with the bank. When you receive the letter, you are obliged to reply to continue using the account.

Content verification
– Identity verification
– Verify the purpose of the transaction

Duration of verification
Depending on the status of each account, the bank will provide a form of verification, and the timing of the response varies. Usually 30 days from the date of receipt.

Example of Two Forms Within The Letter

Here are the examples of the two forms inside the letter:
Confirmation of Purpose of Transaction
English
Japanese

Request for Presentation of Valid Residence Card
English
Japan

Hopefully this article can help a few Smiles friends. Visit our page to see more. Thank you for reading!

Source: JP Post Bank