The number of representative or agent shops for banks will be raised form the present 5 to 10, one of which may be a corporation. The post office's savings division has announced that it is initiating the introduction of point of sales systems as well. Deposit holders at the post offices would be able to use their cash cards to make settlements instantaneously from their accounts when they make purchases at supermarkets and department stores, etc. The postal office system is nationwide and massive. With expected increases in the cost of funds due to the deregulation of the financial markets, the Japanese city banks are moving to raise the fees which they charge utilities in order to handle their bill payments by consumers.
Many consumers pay utility bills automatically out of their bank accounts.
The banks charge the utilities 3-5 yen per transaction. However, as these are deficit operations, the banks are negotiating to raise this to 10 yen. The banks are also negotiating to raise fees for similar bill payments from bank accounts for bills from department stores, insurance companies and credit companies. The banks estimate it costs them about 100 yen for each transaction. Yet they charge regular customers 400-600 yen for bank transfers.