>Seven Global Remit is not a bank.
Based on the Payment Services Act, we have completed registration at the regional Finance Bureau and provide money transfer services as a funds transfer service provider.
The differences between funds transfer service providers and banks are listed below.
· Funds transfer service providers do not handle deposit and savings account, fixed deposits, etc.
· Exchange transactions handled by funds transfer service providers are limited to low-value transactions as specified by Cabinet order (equal to or less than 1 million yen).
· Not subject to the payment of insurance claims as prescribed in Article 53 of the Deposit Insurance Act and Article 55 of the Agricultural and Fishery Cooperation Savings Insurance Act.