Sanwa Bank said Wednesday it plans to establish an Internet bank in July at the earliest, with an eye to launching deposit-taking and settlement operations by year's end.
The Web bank would allow customers to pay for goods and services and buy mutual funds online. People with Web bank accounts would also be able to make demand and time deposits and take out loans at Sanwa Bank's 4,000 automated teller machines, the bank said.
Web bank customers would be able to withdraw their savings from the machines, the bank said.