Opening a bank account in Japan can be a bit tricky, especially if you’re not familiar with how things work here. As a Japanese writer who has helped my foreign spouse set up a bank account, I’ve seen firsthand the kinds of questions and challenges people face.
In this article, I’ll share clear, practical tips based on that experience—covering everything from choosing the right bank to getting your documents ready. By the end, you’ll feel prepared to handle the process with ease.
What Are The Benefits of Having a Bank Account in Japan?
Having a bank account in Japan is not just convenient; it’s often a necessity for anyone living, working, or running a business in the country. Many aspects of daily life, from receiving salaries to paying bills, are streamlined through a Japanese bank account.
Key Benefits of Having a Bank Account in Japan:
- Salary Payments: Most employers in Japan require employees to provide a Japanese bank account to deposit their salaries. Without one, receiving regular payments can be complicated or even impossible.
- Convenience for Automatic Payments (自動引落): Paying for utilities, rent, and subscriptions is seamless with the widely used automatic debit system called “Jido-hiki-otoshi”. This ensures your bills are paid on time without the hassle of manual transfers.
- Cost-Efficiency: Using a Japanese bank account allows you to handle your finances entirely in yen, eliminating the need for frequent currency conversions.
- Easy Access to ATMs: Japanese banks provide extensive ATM networks, allowing you to withdraw cash conveniently from locations across Japan. Many ATMs support multiple languages.
Opening a bank account in Japan simplifies financial management, especially for those integrating into Japanese life, whether temporarily or long-term.
Can Foreigners Open a Bank Account in Japan?
Yes, foreigners can open a bank account in Japan, but there are specific conditions and challenges to consider.
Conditions for Foreigners Opening a Bank Account
1. Residency Duration
To open a standard Japanese bank account, you need to have a valid residency status and have been living in Japan for at least six months.
If your stay is less than six months, you will be considered a non-resident, and most banks will only allow you to open a limited “Non-Resident Yen Deposit Account” (due to the Ministry of Finance Notice No. 4672). This account does not include international remittance features.
However, Japan Post Bank (ゆうちょ銀行) allows foreigners to open a standard account as long as they have at least three months remaining on their period of stay in Japan. This can be a useful solution for those planning to stay between three to six months.
2. Resident Registration (住民票):
Even if you have lived in Japan for over six months, you cannot open a bank account without registering your residency and obtaining a Resident Registration Certificate. This document is essential for verifying your address and is required by all banks in Japan.
Step-by-Step Guide to Opening a Japanese Bank Account
Opening a Japanese bank account is a straightforward process if you prepare properly. While procedures may vary slightly between banks, the following steps outline the general process.
1. Choose a Bank
Research and select a bank that meets your needs. Consider factors such as language support, ATM availability, and specific services like international remittances. Refer to our recommendations below in this article to help guide your choice.
2. Prepare Your Documents
Required documents vary by bank, so confirm in advance. Generally, you will need:
- Passport (with a valid visa)
- Residence Card
- My Number Certificate or My Number Resident Record (required for international remittances)
- Utility Bill showing your current address
- Proof of Employment (such as a certificate from your workplace)
- Hanko (Personal Seal): While some banks accept a signature, having a hanko is often more convenient in Japan.
3. Visit the Bank or Apply Online
- Visit a Branch: For traditional banks, visit a nearby branch. BOOKING AN APPOINTMENT in advance is highly strongly recommended to avoid long waits!
- Online Application: Many banks now offer online account-opening services. This option is convenient, especially for foreigner-friendly banks like Shinsei Bank or Sony Bank.
4. Complete the Application Form
Accurately fill out the application form, ensuring that your name is written as it appears on your Residence Card. Typically, bankbooks will display your name in alphabetical characters, while cash cards commonly use katakana for your name. Some banks also offer English-language forms to assist non-Japanese speakers, making the process easier to navigate.
5. Activate Your Account
Once your application is approved, you will receive your cash card via restricted delivery mail (本人限定受取郵便), typically within a week. Even if you open the account at a branch, the cash card will still be sent by mail to confirm your address.
- The card will not be forwarded if you’ve filed a change-of-address notice.
- Ensure that your account is registered at an address where you can personally receive mail.
By following these steps and preparing in advance, you can open a bank account in Japan efficiently and avoid unnecessary delays or complications.
How to Choose the Right Bank in Japan
Factors such as language ability, ATM availability, and the type of transactions you plan to conduct are key to choosing the right bank for you.
- If your employer specifies a bank for salary payments, prioritize opening an account with that bank to simplify payroll processing.
- If you don’t speak Japanese, opt for foreigner-friendly banks like Shinsei Bank or Sony Bank, which provide robust English-language support through their websites and customer service.
- If you speak Japanese, consider Japan Post Bank or one of the major megabanks (Mizuho, Mitsubishi UFJ, or SMBC). These banks offer extensive ATM networks, financial stability, and standard services like online banking.
- If you frequently receive international transfers, choose Japan Post Bank, which does not charge fees for receiving foreign remittances. However, be prepared for minimal English-language assistance.
Personally, I’ve found Shinsei Bank to be a great choice for our main account because of its English-language support and the availability of English forms. However, it’s worth noting that their phone customer service no longer offers direct English-language support. For day-to-day payments, we also use PayPay Bank, which allows easy online account setup. If you’re comfortable with Japanese, it’s highly convenient, especially since it integrates smoothly with the PayPay QR payment system, making transactions quick and hassle-free.
Frequently Asked Questions About Japanese Bank Accounts
Are Online Banks in Japan Safe?
Japan’s Deposit Insurance System protects deposits up to 10 million yen per bank, even if the bank fails. To stay secure, keep deposits within this insured limit.
How long does it take to open a bank account in Japan?
Opening a bank account at a branch typically takes 30 minutes to 1 hour, while online applications can be completed in 15 to 30 minutes. After submitting your application, it usually takes 1 to 2 weeks for the account to be set up and for your cash card to arrive by mail.
What Should I Do if I Don’t Speak Japanese?
Choose a bank with English-language support, such as Shinsei Bank, or bring a Japanese speaking friend or a translator when visiting a branch.
What are the alternatives if I can’t open a bank account in Japan?
If stay restrictions prevent you from opening a Japanese bank account, Wise is a great alternative. This UK-based service offers multi-currency accounts, real-time exchange rates, low fees, and fast international transfers, making it ideal for managing finances globally without a Japanese bank account.
Conclusion
Opening a bank account in Japan is an important step for managing your finances and integrating into daily life. By selecting a bank that fits your needs, preparing the necessary documents, and understanding the process, you can set up your account without unnecessary stress.
Banks like Shinsei Bank offer strong English support, while Japan Post Bank provides wide accessibility and low fees for international transfers. For online convenience, PayPay Bank is a great option. If you can’t open a traditional account, services like Wise offer a reliable alternative for global financial management.
With the right approach, setting up your finances in Japan can be simple and efficient. Use the insights from this article to make the process work for you.