Mizuho ATM services

After the 9-magnitude earthquake, which struck Japan by surprise and generated a tsunami, the Mizuho Financial Group Inc (8411) had a breakdown in its ATM services and transactions. The bank company says that the earthquake itself wasn’t the cause of the glitch, but the population’s need to withdraw money all at once might have interfered.

Unknown causes of bank disrupture

The bank automated teller machine (ATM) and internet systems are working again after a three-day deadlock. Mizuho is the country’s third-biggest bank in market value. The bank’s president, Satoru Nishibori, said that “while the Mizuho Bank is investigating the exact cause of the disruption, a surge in transactions may have caused the glitch

Before the system went back to normal, Mizuho couldn’t manage to proceed 440,000 transactions, the total value of which came up to 570 billion yen ($7.2 billion). Even though the country also faced problems with the electrical structure, the bank says that the electric power wasn’t the cause.

Japanese situation only gets worse

Whether the bank system’s failure was another consequence of the earthquake suffered by Japan’s population doesn’t make much of a difference when compared to the big picture. The real issue is that the Japanese clients of the Mizuho bank were out of resources while the ATM and internet crashed.

Since the earthquake, the Japanese population has suffered with relation to the transportation services, as the trains were out of order, to electrical power, because of the Fukushima Daiichi explosion, to food and drinks shortages, to the low stock in stores, and now to Mizuho’s problem.