Nippon Life Insurance Co. and IYBank said Thursday they have concluded a tieup agreement over the use of automated teller machines.
The accord allows holders of cards for Nippon Life’s comprehensive insurance service accounts to withdraw and deposit money through ATMs operated by IYBank, beginning Oct. 1.
IYBank is the branch-free banking unit of retailer Ito-Yokado Co.
The life insurer has thus far issued around 7.6 million cards.
IYBank operates more than 6,200 ATMs, mainly at Ito-Yokado supermarkets and convenience stores operated by Seven-Eleven Japan Co. The outlets are in 14 prefectures, including Tokyo, Osaka, Kyoto, Kanagawa, Aichi, Hyogo and Fukuoka.