Rakuten Bank Launches Japan’s First Money Transfer Service Using Facebook

Tokyo, August 5, 2014 – Rakuten Bank Ltd. Today announced the launch of Japan’s first^*1 money transfer service using Facebook, “Transfer by Facebook^*2”.  

With the aim of providing a service enabling customers to transfer money from one bank account to another with ease, Rakuten Bank launched “MailMoney” in November 2002. The service allowed the sender to transfer money without knowing the recipient’s bank, branch, or account number, using an email address and name of the recipient alone. MailMoney continues to be used by a large number of customers, but with the burgeoning use of smartphones and social media, Rakuten Bank has launched the new Transfer by Facebook service, which enables easy transfer to anyone on the user’s Facebook friend list using the Rakuten Bank app.   

Transfer of funds without the recipient’s bank account information
Using Transfer by Facebook, the user can transfer money after logging into their Rakuten Bank account from the Rakuten Bank app, selecting the person they wish to send money to from their list of Facebook friends in the app, and inputting the amount they wish to transfer. The transfer process can be completed on the app without any of the recipient’s account information. There is no need to worry about privacy as the notice of the transfer appears only on posts on Facebook restricted to the sender and the recipient (Timeline/News Feed). Please note that Japanese yen is the only currency that can be transferred.

Money can also be transferred to non-Rakuten Bank account holders
Transfer by Facebook also allows transfer to those without a Rakuten Bank account. By accessing a URL on Facebook with the transfer notice, the recipient is able to specify a bank account for the money, and with that, the deposit procedure is complete.

Attach a message with the transfer
A message (of up to 50 characters) can be sent together with the transfer. Unlike an administrative bank transfer, adding a message is a new communication tool, allowing for use in a range of situations such as pre-payment for events, paying a friend, or setting bills for dining or travel.

Check transaction history with ease
The transaction history can be easily checked by the sender or recipient.

No transfer fees when sending money to a Rakuten Bank account linked to a Facebook account
No transfer fees are charged for sending money to those holding a Rakuten Bank account already linked to their Facebook account. If the recipient has a Rakuten Bank account that is not yet linked to their Facebook account, there is a single fee of 165 yen for the transfer.

The Rakuten Bank app can be downloaded for free from App Store and Google Play.
See http://www.rakuten-bank.co.jp/nonpc/index.html for details.

・Facebook and the Facebook logo are trademarks or registered trademarks of Facebook, Inc.
・iPhone and App Store are trademarks or registered trademarks of Apple Inc. in the United States and other countries.
・Android and Google Play are trademarks or registered trademarks of Google Inc. in the United States and other countries.

*1 As of August 5, 2014, according to Rakuten Bank
*2 Patent pending 

Rakuten Bank is running the following campaign to celebrate the launch of Transfer by Facebook.

1. Everyone who opens a Rakuten Bank account using the Rakuten Bank app and links it to their Facebook account will receive 200 Rakuten Super Points.
Campaign details: http://www.rakuten-bank.co.jp/account/campaign/fb.html

2. We will refund in cash your spending on fees on your first transfers using Transfer by Facebook (up to five times).
Campaign details: http://www.rakuten-bank.co.jp/campaign/fb-201407.html

Rakuten Bank will strive to improve its services and functions going forward as it aims for even more convenience for customers.