Rakuten Bank Surpasses 11 Trillion Yen in Total Deposit Balance

Tokyo, August 1, 2024 - Rakuten Bank, Ltd. today announced that its total balance of deposits (non-consolidated) has surpassed 11 trillion yen as of the end of July 2024.

Rakuten Bank surpassed 16 million accounts^*1 in July 2024 and continues to grow. Many customers are attracted by the convenience of its entirely online banking service, which never requires a visit to a physical location.

In recent years, the company has strengthened collaborations with other Rakuten Group services to enhance the customer experience even further. These initiatives include Money Bridge^*2, which connects Rakuten Bank and Rakuten Securities accounts and provides users with preferential interest rates on their account balance; joining the Super Point Up Program^*3, which scales up the percentage of points earned when shopping on Rakuten Ichiba; the Rakuten Pay app, which allows customers to directly debit their Rakuten Bank account; and a payment feature on the Rakuten Pay app that awards users with Rakuten Points for making purchases directly through their Rakuten Bank account.

In addition, Rakuten Bank also provides services such as Money Support, a free asset management tool, that automatically manages customers’ credit card statements and asset balance at other banks and securities brokerages, and the Rakuten Bank Debit Card, which offers contactless payments, enabling users to make payments quickly and easily both in Japan and overseas.

Since surpassing ten trillion yen in deposits (non-consolidated), Rakuten Bank also began offering new digital experiences starting this May to a wide range of customers via smartphones and other platforms through JRE BANK, an internet banking service for JR East Group customers. Additionally, the bank has expanded the number of organizations that accept direct debit for public utility payments. As a result of these efforts and as many customers are using their account for their everyday finances, Rakuten Bank was able to surpass this 11 trillion yen milestone.

Going forward, Rakuten Bank will continue working to offer innovative and convenient products and services to customers.

Notes
^*1 Excludes closed accounts.
^*2 Money Bridge is a service that links customers’ Rakuten Bank and Rakuten Securities accounts. The automatic deposit/withdrawal (sweep) function automatically deposits insufficient funds from a customer’s Rakuten Bank account when making a transaction using Rakuten Securities, and automatically deposits funds from their securities account to Rakuten Bank in the evening after each business day. A preferential interest rate of 0.10% per annum (0.079% after tax)* is applied on ordinary deposit accounts for users who apply for Money Bridge. Interest rates are variable and are subject to change without notice depending on financial conditions and other factors.
For further details, please refer to the following:
• Money Bridge: https://www.rakuten-bank.co.jp/assets/intermediation/moneybridge/ (*Japanese page)
• Detailed product information: https://www.rakuten-bank.co.jp/assets/intermediation/risk/index.html#moneybridge (*Japanese page)
^*3 If a customer uses their Rakuten Card to pay when purchasing products on Rakuten Ichiba and the account used to pay is a Rakuten Bank account, and in addition, salary, bonus and/or pension payments are received by that Rakuten Bank account in the month prior to the purchase being made, they will earn an additional +0.5% point-back incentive. For details, please visit https://www.rakuten-bank.co.jp/campaign/spu/ (*Japanese page).

*There is a cap on the balance for which the preferential interest rate of 0.10% per annum (pretax) can be applied when users register for Money Bridge. For balances of 3 million yen and below in ordinary deposit accounts: 0.10% per annum (0.079% per annum after tax). For balances in excess of 3 million yen in ordinary deposit accounts: 0.040 per annum (0.031% per annum after tax)