GMO Aozora Net Bank
Last Updated July 2024
Introduction to GMO Aozora Net Bank
GMO Aozora Net Bank is the banking provider we use to facilitate transfers from your bank account to a specific funding account.
IMPORTANT:
During onboarding, you will need to provide us with:
• your business registration country
• the countries from where your business is currently operating from and
• the country where your corporate bank account is located and from where funds will be transferred to your Nium account.Our teams will use this information to guide you on which banking partner to use for an optimal funding experience.
How long will it take for transfers to be added to a funding account?
The following are generic timeframes, with “T” being the day of booking and before the processing bank’s cut-off time.
These timeframes are indicative and should only be used as reference point. Your bank should be able to provide you with their own settlement cycles for each currency, and this should be your main point of reference.
All payments can be subject to screening which, in some instances, may cause a delay to the funds being applied.
TYPE OF TRANSFER | TIMESCALE |
---|---|
Zengin | T |
Virtual Account Numbers (VAN)
GMO Aozora Net Bank provides a virtual account number for each funding account. You can use this virtual account number to transfer money to your Nium funding account. Transferring money to a virtual account number is the same as sending a bank transfer to a regular account number. The virtual account number can be retrieved from the Nium Portal by following the instructions in the section [How do I deposit money to a funding account] .
Send a bank transfer to the virtual account number allocated to the funding account to which you want to add money. This will route your money to GMO Aozora Net Bank. Once GMO Aozora Net Bank receives the transfer, it will automatically be applied to your funding account.
IMPORTANT:
When the funds credit your Nium account, you can only request a bank out/return of funds from your Nium account upon contract termination.
How much does GMO Aozora Net Bank cost?
The only cost for using GMO Aozora Net Bank is the cost of a wire transfer applied by your bank or any intermediary bank involved in the payment process. GMO Aozora Net Bank does not add any additional bank charges.
Transfer types
The payments processed through GMO Aozora Net Bank consist of local zengin transfers in JPY currency, as previously defined.
JPY transfers
If you transfer JPY from within Japan, GMO Aozora Net Bank can receive local zengin transfers.
This is the routing information for a JPY transfer:
BENEFICIARY BANK | GMO Aozora Net Bank |
---|---|
Sender Name | Sender name must include remitter name in English |
Beneficiary Account Name | Nium Japan Kabushiki Kaisha |
Bank Code | 0310 |
Branch Code | Refer to funding instructions |
Account Type | Local |
Beneficiary Account Number | The VAN can be retrieved from the Nium Portal |
GMO Aozora Net Bank timeframes
Once GMO Aozora Net Bank receives a transfer, it is instantly credited to your funding account. This means that if a transfer is sent before your bank’s cut-off time and is received by GMO Aozora Net Bank (even after working hours) it will be available for you to use – effectively offering a 24/7 credit reflection.
Common causes for delays
Payment was made after your bank’s cut-off times | If your bank’s cut-off time is at 4:00 pm and you request a payment to be sent at 4:15 pm, this payment will not leave your bank until the next processing time, which could be the next day. Please ask your bank for their cut-off times, as these may affect your outbound payments. |
---|---|
Weekends and bank holidays | Payments are not processed on weekends and bank holidays. The processing data will be the next available day (e.g., Monday in case of weekends). |
Currency holidays | If you send a currency with a country holiday, this may impact your transfer. For example, Japan bank holidays will stop JPY from being credited to a JPY account, regardless of the location you send your transfer from. Transfers can be expected to be deposited on the next working day. The following section lists all currency holidays for 2024. |
Currency holidays for 2024
JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
JPY | 1, 2, 3, 8 | 12, 23 | 20 | 29 | 3, 6 | - | 15 | 12 | 16,23 | 14 | 4 | 31 |
What if a transfer is delayed?
If your transfers do not reach your account within the expected timeframes, please email [email protected] , with the proof of payment.
Withdrawing money to a bank account
Ad hoc bank withdrawals are not permitted; funds can only be withdrawn upon account termination.
Updated 3 days ago