Mizuho Bank will start issuing automated teller machine cards with credit card functions in July, becoming the first major Japanese bank to provide cards of this kind to every depositor, bank officials said Saturday.
The bank aims to increase its number of individual clients through the issuance of the new cards.
It will manage the cards together with UC Card Co., an affiliate of Mizuho Financial Group Inc., the holding firm of Mizuho Bank, the officials said.
The cards will involve no annual fee and will be issued to clients opening new accounts with the bank and for those who already have Mizuho Bank ATM cards, the bank said.
Further details, such as the screening process for issuing cards and customer services, will soon be finalized, according to the officials.
The bank will allow clients to use conventional ATM cards if they so wish, the officials said.
Mizuho Bank has lagged behind its rivals in terms of retail operations following a serious problem with its computer system in 2002.
Major banks' efforts to strengthen their retail operations are exemplified by UFJ Bank. In September, it became the first major Japanese bank to offer 24-hour ATM services.