Rakuten Bank Becomes First Online Bank in Japan to Surpass 11 Million Accounts

Tokyo, July 2, 2021 - Rakuten Bank, Ltd. today announced that it opened its 11 millionth account*¹ on July 4, 2021, a first for a domestic online bank in Japan^*2. The company opened one million new accounts over the past approximately six-month period, the shortest timespan yet for the bank to hit the one million new accounts milestone.

Since it was established as an online bank in 2001, Rakuten Bank has been well-received by customers for being easily accessible 24 hours a day, 365 days a year, as well as for its wide range of products and services. Even amid the COVID-19 pandemic and the New Normal which has ensued, many individuals and corporations are using Rakuten Bank for banking services that can be conducted entirely online.

In recent years, more and more individual customers are choosing Rakuten Bank as their main banking account, which is why Rakuten Bank has strived to continue improving its portfolio of services. The company has launched an instant payment service from Rakuten Bank accounts on the Rakuten Pay app, the number of partners offering Rakuten Bank as an option for automatic money transfers have increased, and its convenience store payment service, which allows app-based payments for payment slips, has become more widely available. The Rakuten Bank app has also recently been redesigned.

Rakuten Bank’s unique services include its business support program, which offers select business services free of charge to corporate customers, as well as the Rakuten Bank Business Debit Card, which features cashback of 1%. A steadily increasing number of customers are also choosing their Rakuten Bank account for direct deposit of their salary payments, and the bank recently surpassed six trillion yen in total balance of deposits (non-consolidated) at the end of June 2021.

*1 Excludes closed accounts.
*2 As of July 5, 2021. Research by Rakuten Bank.