A problem with Japan’s Zengin interbank data communication system occurred on Tuesday, making it impossible for customers of 11 Japanese banks to transfer money to other banks.
As of 4 p.m., there was no prospect of restoring the system, according to the system’s operator, the Japanese Banks’ Payment Clearing Network, or Zengin-Net, which is affiliated with the Japanese Bankers Association, or Zenginkyo.
Zengin-Net is using a backup method to ensure that money in already-accepted orders will be transferred to destination accounts by the end of Tuesday.
The 11 affected banks are MUFG Bank, Resona Bank, Saitama Resona Bank, Kansai Mirai Bank, Yamaguchi Bank, Kitakyushu Bank, Mitsubishi UFJ Trust and Banking Corp., Custody Bank of Japan, JPMorgan Chase Bank, Momiji Bank and Shoko Chukin Bank.
This is the first glitch in the Zengin system that has affected general banking customers since it went into operation in 1973.
The association and others are investigating the cause of the problem, but it is believed to be traceable to update work on a relay computer program between Saturday and Monday.
MUFG Bank said that while customers are unable to transfer money to other banks, they can still send money between MUFG Bank accounts.
Also on Tuesday, Japan Post Bank suffered a system glitch that made its online services, including balance inquiries and transfers via its mobile app, unavailable from around 8 a.m.
Its Yucho Direct online banking and Yucho Pay smartphone payment app services resumed in the afternoon. The Yucho Bankbook app was still suspended as of 4 p.m.