Have you completed all the procedures at the municipal office?
(If you have not, review STEP 3!)
Once you have entered Japan and completed all the procedures at the municipal office, you can now open a bank account in Japan!
This article explains how to open a bank account in Japan, and lists recommended banks and required documents.
Banks in Japan
Most banks are open from 9 am to 3 pm Monday through Friday, excluding national holidays and New Year holidays.
However, Internet banking and banks specializing in Internet banking are increasing, making it possible to conduct transactions even after business hours.
ATMs at Japanese banks and post offices are often available in English.
From ATMs, you can deposit and withdraw cash, bookkeep (update your bankbook), check your balance, and transfer money.
However, some banks may charge a fee for using ATMs.
Please check each bank’s website for details.
Open a Bank Account
Most banks only allow those whose period of stay is 6 months or longer and whose purpose of stay is work or study to open an account. In other words, it is impossible to open an account if you are staying in Japan for a short period of time, such as for sightseeing or business trip.
Procedures differ from bank to bank.
Since an increasing number of banks let people open an account online in English, it is not that difficult for English speakers to open an account.
Most banks issue a passbook, but since they offer Internet banking, it is possible to open an account without a passbook. Please note that some banks require you to have a passbook.
Opening a bank account in Japan is not very difficult, but it may take time to complete the entire procedure. Be sure to inquire your bank about the required documents.
What a foreigner needs to open a bank account
In general, the following documents are required for a foreigner to open a bank account in Japan:
- Passport with a valid visa
- Residence Card with current address written on the back → Once you register as a resident, the Residence Card will show your current address. The procedure is explained in STEP 3.
- Identification documents issued in Japan (driver’s license, health insurance card, My Number Card, Residence Card, etc.) → My Number Card and Residence Card are explained in STEP 3.
- Address and phone number in Japan → Explained in Step 1.
- Inkan (seal) → Explained in Inkan registration section of Step 3. ※ Note that most banks in Japan require an Inkan (seal). There are banks that allow you to open an account with just your signature or online without an Inkan (seal). ※You do not need to register your Inkan (seal) just for opening a bank account. However, you may be asked to provide Jitsuin (registered Inkan) when you borrowing money, etc. Avoid using Shachihata (rubber stamp type seals with built-in ink).
- (Only for certain countries) taxpayer identification number of your home country
This may vary depending on the bank and your residency status in Japan. Please review the bank website or contact the bank for details before proceeding!
Recommended banks for foreigners
The following banks either provide support in foreign languages or allow you to open an account online.
Japan Post Bank
Why Japan Post Bank？
- There are many branches throughout Japan so you can easily find one near you.
- You can open an account online (in Japanese only) and without an Inkan (personal seal)
Japan Post Bank (or Yucho Bank) is a bank of the Japan Post Group, which operates post offices.
Banking transactions can be completed at most post offices throughout Japan.
Japan Post Bank has many branches throughout Japan and you can easily find one near you.
For this reason, many universities and other institutions recommend Japan Post Bank as a place to open an account, and may even provide support for opening an account.
You can open an account online at Japan Post Bank, and you do not need an Inkan (seal) for it.
The drawback is that it is not supported in foreign languages.
Therefore, it is recommended that you get a family member, friend or colleague who understands Japanese to help you.
Japan Post Bank – Open an Account using App
Information on opening an account is provided in 18 languages.
For English, go to the following link:
https://www.jp-bank.japanpost.jp/kaisetu/pdf/kaisetu_en.pdf
Sony Bank
Why Sony Bank?
- You can open an account in English using an App. No Inkan (seal) is necessary.
- Cash card has a VISA debit function.
Sony Bank is an Internet bank operated by the world-renowned Sony Group.
Sony Bank allows you to open an account in English through an app.
This is recommended for those who understand English.
You can open an account easily by following a few simple steps.
In addition, Sony Bank’s cash card has a VISA debit function.
Therefore, it is recommended for those who do not have a Japanese debit or credit card.
For details on how to open an account, please refer to the following!
Rakuten Bank
Why Rakuten Bank?
- You can open an account online in English. No Inkan (seal) is necessary.
- Cash card has a debit function.
- You can choose from VISA, MasterCard, and JCB.
Rakuten Bank is an Internet bank operated by Rakuten Group, famous for its major online shopping site, Rakuten Ichiba (market).
Rakuten Bank – Open an Account
Rakuten Bank allows you to open an account in English from your PC or smartphone.
If you can understand English, you can open an account easily by following simple steps.
In addition, Rakuten Bank’s cash card has a debit function (you can choose from VISA, MasterCard, and JCB).
Therefore, it is recommended for those who do not have a Japanese debit or credit card.
PRESTIA, SMBC Trust Bank
Why PRESTIA, SMBC Trust Bank?
- You can open an account online in English. No Inkan (seal) is necessary.
- Phone banking is available in English. Inquiries and transactions can be made over the phone.
- You can enroll in “Global Pass” and set up your cash card as a multi-currencies Visa debit card. A separate application is necessary.
PRESTIA, SMBC Trust Bank is a major trust bank under Sumitomo Mitsui Financial Group.
You can open an account online. No Inkan (seal) is necessary.
Online banking and phone banking are available in English. Some branches also have English-speaking staff.
After an account is open, you can apply for Global Pass, a multi-currencies Visa debit with cash card.
Please note that a maintenance fee of 2,200 yen/month will be charged unless you meet one of the waiver requirements, such as having an average balance of over 500,000 yen or having a loan balance. For more information, please see here.
Sumitomo Mitsui Banking Corporation or SMBC
Why Sumitomo Mitsui Banking Corporation (SMBC)?
- SMBC is a major bank in Japan with a long history and reputation. It also has many branches and ATMs.
- You can open an account online using an app or on the website (only in Japanese). No Inkan (seal) is necessary (conditions apply).
- The bank app has some information in multiple languages.
Sumitomo Mitsui Banking Corporation (SMBC) is one of the largest and most well-known banks in Japan.
It has a reputation for reliability and convenience as it has many branches and ATMs.
※ Please note that this is a completely different bank from the aforementioned PRESTIA, SMBC Trust Bank.
You can open an account online only in Japanese.
You will need all the necessary documents and there are certain other conditions. You should be able to check the list when you try and open an account online.
SMBC’s app for smartphones provides some information in multiple languages (English, Chinese, Korean, and Vietnamese).
Some pages of the homepage are also translated.
How to Receive or Send Money Abroad
Once you have a bank account in Japan, you will probably want to transfer money from a bank in your home country to the new account in Japan.
If you need to receive money from overseas or send money overseas, we recommend using Wise (formerly TransferWise) at this time.
You can also use Japanese banks. however, the fees usually high and it takes a long time!
Wise is well known for an inexpensive alternative to bank transfers.
Wise provides International money transfer services for a reasonable commission.
You can hold and exchange over 50 currencies and send money to over 80 countries.
There are other service providers such as Revolut, PayPal, and SBI Remit for sending money overseas.
Check the costs as well as supported languages and currencies to determine which works the best for you!
Good job!
Good job!
You are now done with opening a bank account and transferring money!
Once you have a bank account in Japan and it is funded, you are ready to go!
We hope you enjoy your life in Japan!
In Step 5, we will introduce some tips to enrich your life in Japan.
Please take a look!
The information contained in this article is based on the information available as of August 31, 2023.
