Rakuten Bank Surpasses Nine Trillion Yen in Total Deposit Balance

Rakuten Bank, Ltd. today announced that its total balance of deposits (non-consolidated) has surpassed nine trillion yen as of the end of March 2023.

Rakuten Bank became the first online bank in Japan*1 to surpass 13 million accounts*2 in September 2022 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, with initiatives such as joining the Super Point Up Program*3, which scales up the percentage of points earned when shopping on Rakuten Ichiba, and providing the Money Bridge service*4, which connects Rakuten Bank and Rakuten Securities accounts and provides users with preferential interest rates on their account balance. Through cross-use with other Rakuten services, Rakuten Bank offers added convenience and utility to its customers.

Customers’ purchasing habits have changed and cashless payments have become more popular since the COVID-19 pandemic. Rakuten Bank offers a variety of services to make cashless payments more convenient and economical for customers. These include the Rakuten Pay App which allows customers to directly debit their Rakuten Bank account, a payment feature on the Rakuten Pay App that awards users with Rakuten Points for making purchases directly through their Rakuten Bank account and the Rakuten Bank Debit Card*5, which allows customers to earn Rakuten Points with every payment.

Since surpassing eight trillion yen in deposits (non-consolidated), Rakuten Bank has also continued to improve its services by expanding the number of organizations that accept payments for taxes and other government-related expenses via the Rakuten Bank Convenience Store Payment Service (convenience store slip payment via the Rakuten Bank App) and Pay-easy. As a result of these efforts and as many customers are using their accounts for their everyday finances, Rakuten Bank was able to surpass this nine trillion yen milestone.

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