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Sumitomo Mitsui

WikiFX | 2024-11-14 12:19

Abstract：Sumitomo Mitsui is a comprehensive financial services provider offering a diverse range of products including account management, loans, insurance, and internet banking. The company is headquartered in Japan and has been operational since 2002. Currently, it is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.

Sumitomo MitsuiReview Summary
Founded	2002
Registered Country/Region	Japan
Regulation	Regulated by LFSA
Services	Banking business, leasing business and other business
Customer Support	Phone: 0120-324-310,03-5539-2745 (Daily 9:00~21:00)
Customer Support	Address: 1-1-2 Marunouchi, Chiyoda-ku, Tokyo (zip code 100-0005)

Sumitomo Mitsui is a comprehensive financial services provider offering a diverse range of products including account management, loans, insurance, and internet banking. The company is headquartered in Japan and has been operational since 2002. Currently, it is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.

Pros and Cons

Pros	Cons
Access to a lot of financial services	Limited international regulatory presence
Regulated by LFSA

Is Sumitomo Mitsui Legit?

Yes, Sumitomo Mitsui is authorised and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.

Regulated Country	Regulator	Current Status	Regulated Entity	License Type	License No.
	Labuan Financial Services Authority (LFSA)	Regulated	SUMITOMO MITSUI BANKING CORPORATION	Market Making (MM)	Unreleased

Services

Sumitomo Mitsui offers banking business, leasing business and other business.

Sumitomo Mitsui's head office and domestic and overseas branches are engaged in banking business. SMBC Leasing & Finance Company provides leasing services.

Credit-related operations:financing, factoring, collection and venture capital services.

Investment Advisory Services:investment advisory services, investment trust consignment services, operations and management services related to defined contribution pension plans.

Banking Business	Leasing Business	Other Business
		Domestic	Overseas
deposits, lending, commodity securities trading, securities investment, domestic foreign exchange, foreign exchange, corporate bond trusts and registrations, financial futures transactions, and over-the-counter sales of securities investment trusts	leasing services	credit-related operations, securities Business, investment Advisory Services, information Processing and Business Information Provision Business	investment and loan services and swap services

Account Type

The only account that can be applied for Sumitomo Mitsui is an Olive account which has three account types, including Olive General, Olive Gold and Olive Platinum Preferred.

Deposit and Withdrawal

Sumitomo Mitsui accepts cash card, debit, credit, point payment, and payment with an additional card. When clients use an ATM or CD, they will be charged an “ATM/cash card usage fee” for each transaction of “deposit”, “withdrawal”, or “transfer”. Usage fees vary depending on the ATM, cash card, and time of day.

Fees

Sumitomo Mitsui offers several fee-related benefits for its Olive account holders:

No fees for transfers to another bank.

Up to 20% off with card payment points redemption.

ATM fee-free for 24 hours.

Access to special offers every month.

Safe and affordable Olive Flexible Pay options.

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