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Free Bank Accounts May Become a Thing of the Past in Japan

  • BOJ rate cut could lead banks to charge depositors: analyst
  • Central banker has warned that banks may consider fees
Inside Mizuho Bank Office Ahead of Its Earnings Announcement
Photographer: Tomohiro Ohsumi/Bloomberg
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Japan’s long-suffering savers have put up with virtually zero interest for years, but at least their bank accounts have remained free. That may change as speculation for further monetary stimulus mounts.

Lenders could begin imposing maintenance fees for retail deposit account holders if the Bank of Japan deepens negative interest rates from minus 0.1%, according to JPMorgan Chase & Co. analyst Rie Nishihara. A central bank board member also warned last month that banks may have to consider such a change.