$250M Deposit Vanishes, Bank Says It’s Not Liable?
This case has revealed that bank tellers and staff are no longer trustworthy—they might siphon off your money during the transaction process, leaving you unable to recover it.
This incident further underscores the importance of using your bank’s app directly, without intermediaries. If money goes straight into the bank, it won’t vanish into thin air. Deposits in any single bank are reportedly covered up to a hard limit of ¥500,000, so spreading your deposits across banks—keeping no more than ¥500,000 per institution—is the recommended way to manage risk.
Extra tip:
I highly recommend using Cloud QuickPass to manage all your bank cards—it’s incredibly useful and lets you see the balance on each card at a glance.
Cloud QuickPass: The best all-in-one app for managing bank and credit cards