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Statement of Important Matters (International Money Transfer Service)

When using the Seven Bank International Money Transfer Service, please note the following in addition to the contents of the Product Overview (International Money Transfer Service). Please be sure to read the "International Money Transfer Service Terms and Conditions" for details of this Service, including other precautions.

Please note the meaning of the following terms when reading this material:

  • "Alliance Partner" shall mean group companies of The Western Union Company (a US corporation with its headquarters at 12500 East Belford Avenue, Englewood, Colorado 80112, U.S.A.).
  • "Cash Receipt Method" means the method wherein the receiver receives payment in cash, as a general rule, by following the appropriate procedure at a Payment Center.
  • "Credit-to-Account Method" means the method wherein the receiver receives payment by having the relevant amount credited to the Receiver's Bank Account designated by the customer.
  • "Payment Center" means any center of an agent, sub-agent or any other person affiliated with the Bank's Alliance Partner that handles the payment-related operations for money transfer transactions through this Service.
  • "Receiver's Bank" means the financial institution (with which the receiver holds an account) that the customer designates when making a payment under an International Money Transfer transaction by selecting the Credit-to-Account Method.
  • "Receiver's Bank Account" means the receiver's deposit account that is designated by the customer.
  1. This Service is provided by Seven Bank (the "Bank") and is not a service independently provided by the Alliance Partner. The Alliance Partner, the Payment Center and the Receiver's Bank will not be a party to transactions with customers.

    ◆Money transfers through this Service can be received at the Payment Center affiliated with the Alliance Partner or can be received by credit to the Receiver's Bank Account. However, such service by the Alliance Partner, the Payment Center and the Receiver's Bank is provided to the Bank (not to customers) under the alliance between the Bank and the Alliance Partner. All rights and obligations of the customer arising out of the use of this Service shall arise and belong to the customer only between the customer and the Bank.

  2. As a general rule, this Service will be in the Japanese language. Indications, etc. in other languages will be limited, and if there is any inconsistency in meaning or contents between the Japanese version and such other languages, the Japanese version will control.

    ◆For customers' convenience and support, indications, etc. may also be made in languages other than Japanese, but such indications, etc. will be limited. For example, certain ATM transaction screens are indicated in Japanese and 8 other languages, and customer services will be available in Japanese and 8 other languages; however, these are limited to the extent the Bank deems appropriate and are subject to change or cancellation without prior notice.

  3. The Bank will not process any money transfer subject to prior permission, notification or the like under the "Foreign Exchange and Foreign Trade Act" and restrictions where the Bank is required to confirm the completion of such procedures at the time of the transaction.

    ◆The above Act restricts money transfers: (1) to any entities or persons subject to asset freeze or other economic sanctions; (2) purported to assist certain activities of certain countries; and (3) to pay for trades involving certain countries. Each customer is required to, in requesting a transaction, confirm that the transaction does not fall under any of these. For specific contents to be confirmed, please refer to the Internet homepage of the Bank (the contents will be updated according to changes in applicable laws and ordinances).

  4. The Bank's prescribed foreign exchange rate applicable to currency conversion of this Service includes a spread prescribed by the Bank. In addition to the send charge, profits relating to the currency conversion will be partially distributed to the Alliance Partner.

    ◆The Bank's prescribed foreign exchange rate applicable to currency conversion of this Service is the product of a general interbank foreign exchange rate specified at points of time and a method prescribed by the Bank, plus a spread prescribed by the Bank. As a general rule, the rate will be changed at a frequency prescribed by the Bank (multiple times a day).

  5. The "Exchange Rate" and the "Amount to be Received" displayed on the screen when the transaction is accepted may differ from the actual rate applied and/or amount received.

    ◆As a general rule, the "Exchange Rate" applicable to currency conversion of this Service and the "Amount to be Received" calculated by converting to the foreign currency designated by the customer at such rate will be those shown on the screen and confirmed by the customer when the transaction is accepted.

    ◆In certain payout countries, however, the actual rate applied and/or amount received may differ from those confirmed by the customer due to reasons such as (1) currency conversion made to the payout currency with the Bank's prescribed exchange rate as at the time of payment or at the time of credit to the Receiver's Bank Account, etc. (2) taxes and/or fees imposed upon payment of the money transfer or upon credit to the Receiver's Bank Account, or (3) the payment currency is converted to the Bank's prescribed currency at a rate equivalent to the Bank's prescribed foreign exchange rate as at the time of payment or at the time of credit to the Receiver's Bank Account, etc.

  6. Please notify the intended receiver of transaction details including the Money Transfer Control Number (MTCN) and the 6 test question and answer to it issued when the transaction is accepted, and manage and keep them with care.

    ◆The Bank will, upon accepting a transaction, issue a Money Transfer Control Number (MTCN) and, if needed for payout, a test question and the answer to it and display these, together with other transaction details, on the transaction screen or the transaction statement (receipt).

    ◆If the Cash Receipt Method is taken, it will be necessary to take certain procedures, including the presentation and provision of documents and information as prescribed by the Payment Center, in addition to the presentation of the transaction details.

    ◆In the case where the Credit-to-Account Method is taken in China, if the receiver is receiving funds in the Receiverʼs Bank Account for the first time, the receiver must call the Bank's Alliance Partner and provide it with the MTCN (Money Transfer Control Number). In addition, even after completing your first transaction at a designated account of some receiver's banks, the receiver may still receive a confirmation call from our alliance partner each time a transaction is performed.

    ◆Please do not disclose such details to anyone other than the intended receiver. The Bank will not be liable for any damages arising from the use of these by any third party other than the customer or the intended receiver.

  7. After accepting money transfer request, the Bank will not process any customer requests for change to such request.

    ◆If a customer needs to change money transfer request, the customer needs to once cancel such request or request a transfer reversal, register the recipient as necessary, and newly make a request in conditions reflecting such change.

  8. Even if the Bank accepts a money transfer request, there may be cases where the receiver is unable to receive payment at any part of or all of the Payment Center located in the payout country or where the relevant amount cannot be credited to the Receiver's Bank Account due to transactional restrictions prescribed by the Alliance Partner, the Payment Center or the Receiver's Bank.

    ◆Alliance Partner, Payment Center or the Receiver's Bank may establish or change restrictions on the payment to receivers, etc. without any prior notice. The restrictions include limits on payout amount and frequency of payment, restrictions on kinds and volume of the payout currencies, qualification requirements of the receiver such as those on its age, address and whereabouts, and restrictions under laws and ordinances of the payout country, etc. Money transfer accepted by the Bank will be limited by these restrictions, and payment to a receiver will be made only within such limitation. There may be cases where a separate transaction, such as conversion to another currency (including conversion of small denominations of the payout currency into another currency), is required for payment.

    ◆If the Bank deems that the receiver cannot receive payment or the relevant amount cannot be credited to the Receiver's Bank Account at any of the Payment Center located in the payout country due to reasons attributable neither to the customer nor the receiver, the Bank will, as a general rule, refund all of the transfer funds, various fees, charges and costs received from the customer, after cancellation of such transaction.

  9. If the Cash Receipt Method is taken, the receiver shall effect any separate transactions with the Payment Center under his/her own responsibilities. The Bank will not be liable, regardless of the reasons for the transactions.

    ◆If the Cash Receipt Method is taken, as a general rule, the receiver will receive payment in cash in the foreign currency designated by the customer. There may be cases where a receiver is required to effect a separate transaction, such as crediting to the receiver's deposit account or conversion into another currency (including conversion of small denominations of the payout currency into another currency), etc., or is able to receive payment in other manners or in other currencies than those designated by the customer by a separate transaction with the Payment Center. Even in cases where the terms of the transaction, which are confirmed by the customer at the time when the transaction is accepted, have changed or the receiver suffers any cost burden or disadvantage in connection with such transactions, the Bank shall not be liable for them. The same will apply in the cases where the receiver is unable to receive payment in the payout currency designated by the customer due to any restriction on transactions prescribed by the Alliance Partner or the Payment Center.

  10. If the Cash Receipt Method is taken, the receiver can receive payment for the relevant International Money Transfer transaction by following the procedure to claim payment at any Payment Center in the Payout Country, but only during business hours on business days for the relevant Payment Center.

    ◆The receiver cannot receive payment at any Payment Center that is not located in the Payout Country. In addition, if the customer must specify, not only the Payout Country, but also the relevant state and/or city, there may be cases where the payment cannot be received at a Payment Center located outside the state and/or city specified by the customer.

    ◆Even if the Bank has accepted a Money Transfer Request from the customer, it may not be possible to receive the transferred funds at some or all the Payment Centers located in the Payout Country due to transactional restrictions prescribed by the Alliance Partner or the Payment Center. In such case, after accepting the Money Transfer Request, the Bank will, to that extent, be released from its obligation to carry out the relevant International Money Transfer transaction in accordance with the conditions that were confirmed by the customer at the time of acceptance of the relevant money transfer request.

  11. If the Credit-to-Account Method is taken, the crediting to a bank account will be conducted in the payout currency. In addition, a separate procedure may be required in some Payout Countries.

    ◆As a general rule, the crediting to a bank account will be conducted in the payout currency.

    ◆In the case where the Credit-to-Account Method is taken in China, if the receiver is receiving funds in the Receiverʼs Bank Account for the first time, the receiver must call the Alliance Partner. In such case, it may take longer than usual for the crediting to the Receiverʼs Bank Account to be completed, because the aforementioned procedure must be completed first. In addition, even after completing your first transaction at a designated account of some receiver's banks, the receiver may still receive a confirmation call from our alliance partner each time a transaction is performed.

    ◆If there is an error in the transfer details, such as in the account number of the Receiver's Bank Account number, the money could be credited to the wrong account. Therefore, please always check the transfer details to ensure they are accurate. In particular, if the Credit-to-Account Method is taken in the Philippines, only the account number is checked to ensure that it matches the Receiverʼs Bank Account designated by the customer, and no steps are taken to ensure that the account holder matches the name of the receiver. We therefore encourage you to pay special attention when registering the account number of the Receiverʼs Bank Account.

    ◆In the case where the Credit-to-Account Method is taken, the Bank shall designate the number of days required to complete the process of crediting the relevant amount to the designated local bank account.

  12. The Bank will acquire and use customer information including "nationality" and "country/place of birth". The Bank will provide the Alliance Partner, the Payment Center and the Receiver's Bank with information deemed necessary by it among such customer information.

    ◆The Bank will acquire and make a use (including the provision to third parties set forth below) of each customer's "nationality" and "country/place of birth" in order to ensure the appropriate operation of this Service and other business activities of the Bank.

    ◆The Bank will provide information, which is deemed necessary by the Bank among the customer information, to the Alliance Partner, the Payment Center or the Receiver's Bank for the Alliance Partner, the Payment Center or the Receiver's Bank to make payment to receivers or otherwise to support the Bankʼs processing of money transfer transactions or comply with laws and ordinances. The information provided by the Bank may also be used for data analysis (provided that no individual customer will be singled out in connection with the analysis) for improving services of the Alliance Partner. Incidentally, such information may be mutually provided among the Alliance Partner, the Payment Center or the Receiver's Bank for these purposes of use.

    ◆The information that may be provided to third parties is any personal information, transaction information and other information provided by a customer to the Bank in relation to the customer's Seven Bank Account, this Service and other services using such account, or transactions by these services. The information includes contents of any documents submitted by the customer and his/her transaction requests, his/her "nationality" and "country/place of birth" and information on receivers.

  13. The Bank will handle cancellation by a customer only if the payment to the receiver (in the case of the Cash Receipt Method) has not been completed. In the case of the Cash Receipt Method, as a general rule, money transfer that is not received within the 30-day period starting from the date that such money transfer request is accepted will be cancelled by the Bank promptly, and the transfer funds will be refunded to the customer. As a general rule, deposits made into the Receiver's Account (for deposit into a bank account) cannot be cancelled.

    ◆As a general rule, the send charge and other fees and various charges, among the transfer funds and other moneys paid by the customer, will not be refunded. The transfer funds will be refunded to the customerʼs Seven Bank Account (ordinary deposit). Such refund may take at least four business days from the date of cancellation. In certain cases, the Bank may not be able to make the refund if such refund is restricted under laws and ordinances.

    ◆Cancellation by a customer will be handled at the Telephone Center and the Customer Center for International Money Transfers. However, the Bank will not handle cancellations if such cancellation is prohibited under laws and ordinances or such cancellation is refused by the Alliance Partner.

    ◆In the case where the Cash Receipt Method is selected and a cancellation of money transfer takes place as a result of the failure to receive the relevant transferred funds within 30 days from the date of acceptance of request, such cancellation will not be notified to the customer.

  14. The customer must submit the Bank's prescribed transfer reversal request form to carry out a reversal. When submitting said form, the Bank may require the customer to submit the Bank's prescribed identity verification documents or provide a guarantor. In addition, there may be cases where it takes a considerable period of time to confirm with the Alliance Partner whether or not such reversal can be conducted.

    ◆The receiver's consent is required for any reversal.

    ◆A reversal may not be possible due to the rejection the Receiver's Bank or due to any restrictions under the laws and ordinances of the relevant country or due to any measures imposed by the government, court or any other public institution. In such case, the Bank shall not be responsible for any damages arising in relation thereto. In addition, the Bank will not refund the reversal fee.

    ◆With respect to money transfers for refunding money to the receiver according to these terms and conditions, the foreign exchange rate that is applied to such refund money for conversion from the payout currency to Japanese yen shall be the foreign exchange rate effective as at the time of such conversion. Therefore, please note that you may incur exchange losses as a result of such conversion.

  15. The Bank will not be liable for any damage in relation to this Service arising due to any reasons other than those attributable to the Bank, such as damage arising from erroneous payment or non-payment caused for any reasons attributable to the Alliance Partner, the Payment Center or the Receiver's Bank and damage arising from any failure of system, etc.

    ◆The reasons other than those attributable to the Bank include erroneous payment, non-payment, shortage of payment, or delayed payment, caused for any reasons attributable to the Alliance Partner, the Payment Center or the Receiver's Bank. Also, such reasons include any failure of system, etc., including terminals and means of communication, (with respect to the Bank's system, etc., such failure will be one that occurred despite reasonable security measures taken by the Bank). The Bank will not be liable for any damage due to such reasons.

    ◆However, in a case where as a result of the Bankʼs investigation of a transaction based on the customer's inquiry, the Bank and the Alliance Partner confirm that any erroneous payment or non-payment was caused for any reasons that are attributable to the Alliance Partner, the Payment Center or the Receiver's Bank (or in a case where the Bank deems that the situation is equivalent thereto), the Bank will take measures which the Bank deems appropriate, such as canceling the money transfer or re-implementing the payment, upon giving a consideration to the customer's intention.

  16. The Bank's liability in relation to this Service shall be limited to direct and actual damage and up to the total amount (in Japanese Yen) paid by the customer, unless otherwise provided for in laws and regulations.

    ◆The Bank's liability shall not include indirect damage, consequential damage, lost earnings, lost opportunities, incidental loss, etc., regardless of any legal causes of action. The Bank shall not be liable for any amount beyond the total amount (in Japanese Yen) of the transfer funds, various fees, charges and costs that were received when the Bank accepted the transaction. However, the above shall not apply if otherwise provided for in laws and regulations

(Revised as of August 10, 2015)

*The above is the translation of the Japanese version just for customers' convenience and support. If there is any inconsistency in meaning or contents between the above and the Japanese version, the Japanese version will control. The Japanese version is posted on the Internet homepage of our bank and will be sent by postal mail if requested to the Telephone Center.

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