Hi,
yesterday I failed to recharge my Revolut Account through my Sony Bank Visa Virtual Wallet Card. I sent an inquiry to Sony’s customer support and was told that
“In consideration of the nature of the merchant’s business and other factors, Sony Bank has placed a restriction on the number of Visa Debit payments to Revolut using our debit card since September 1st.
Due to this restriction, only one transaction is allowed every 30 days at Revolut, which means no payments can be made within 30 days of the most recent transaction.”
I am aware of cultural differences, etc., but somehow it really does not sit well with me that my bank seems to decide how I get to spend my money. Personal inconvenience aside – I am pretty sure that this is a trade law violation since Revolut is a direct competitor to Sony Bank…
There is no way this is legal in Japan, is it?
Any ideas about that?
4 comments
Anti-Money Laundering regulations in Japan seem to be way stricter than anywhere else. The whole finance industry here is full of unreasonable restrictions especially on anything to do with overseas transfers.
https://www.ysky.info/entry/2022/06/04/190000
Found this article. Seems reasonable.
Can’t you do a wire transfer?
AML rules here aren’t stricter than in most other developed economies. More of a case of trying to squeeze out a foreign business…