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Banking in Japan: What to Know About Opening a Bank Account in Japan
If you’re moving to Japan for work, study, or long-term life, one of the first things you’ll need to do is open a bank account. While it might sound simple, opening a bank account in Japan can feel confusing due to the language barrier, required documents, and the differences from banking systems in other countries. But with the right preparation, the process can go smoothly.
In Japan, many people casually refer to the whole process as “joining the system,” because it’s a key step in settling down. Here’s a breakdown of everything you need to know about opening a bank account in Japan.
Why You Need a Bank Account in Japan
Most jobs in Japan pay through direct deposit, and utilities like electricity, gas, and water often require automatic payments through a local bank. You’ll also need a bank account for mobile phone contracts and to receive refunds from government agencies. Simply put, without a bank account, daily life in Japan becomes much harder.
Opening a bank account in Japan isn’t just convenient—it’s essential.
Who Can Open a Bank Account in Japan?
To open a bank account in Japan, you must have a valid visa and residence card (在留カード or zairyuu kaado). Tourists cannot open accounts. Some banks will require you to have been in Japan for at least six months, but others will allow you to open an account sooner, especially if you can show proof of employment, enrollment in a school, or a strong reason to do so.
If you’re a student, you’ll need to show your student ID or enrollment certificate. If you’re working, bring a document from your employer. These extra papers aren’t always required but can speed up the process.
What You Need to Bring
When opening a bank account in Japan, bring the following:
- Your residence card
- Passport
- Japanese phone number
- Proof of address (usually your residence card or a utility bill)
- My Number (social security number in Japan), though not all banks ask for it right away
- A hanko (personal seal) — some banks still require this, though more are accepting signatures
If you don’t have a Japanese phone number, some banks will reject your application. Make sure to get a SIM card first.
Which Bank Should You Choose?
There are many banks in Japan, and your choice will depend on what you value most. Here’s a quick overview:
- Japan Post Bank (ゆうちょ銀行): Has the most ATMs in the country and is foreigner-friendly. They accept new arrivals and don’t always require a hanko.
- Shinsei Bank: Offers online banking in English and has no requirement for a hanko. Great for newcomers and English speakers.
- MUFG, SMBC, and Mizuho: These are the big traditional banks. Reliable, but often strict about documentation and residency period.
- Rakuten Bank and Sony Bank: Online-only banks that offer English support and debit cards, but might be harder to use if you’re unfamiliar with online banking systems in Japanese.
If you want a fast, simple experience, Japan Post or Shinsei Bank are good places to start.
The Process of Opening a Bank Account in Japan
The actual process is relatively simple once you’re prepared.
- Visit a branch or apply online: Shinsei, Sony, and Rakuten allow online applications. For others, visit a local branch.
- Fill out a form: Most of the form will be in Japanese. Some banks offer English assistance or forms.
- Submit your documents: Staff will check your residence card, passport, phone number, and other documents.
- Get your bankbook (通帳 or tsūchō): You’ll receive this little passbook to track transactions at ATMs. Some online banks don’t issue bankbooks.
- Receive your cash card: This will arrive by mail in 1 to 2 weeks. You can use it to withdraw money from ATMs and make payments.
Opening a bank account in Japan usually takes about 30 minutes if you have everything prepared.
Common Challenges to Expect
Opening a bank account in Japan is not always smooth. Many foreigners face the following issues:
- Language barrier: Most bank staff speak only Japanese. If you’re not confident, bring a Japanese-speaking friend or use a bank with English support.
- Phone number: If your phone isn’t active yet, banks may turn you away. Make sure you have an active Japanese phone number.
- Six-month rule: Some banks won’t open accounts for people who’ve been in Japan less than six months. Ask ahead or choose banks that are flexible with this rule.
- Bank hours: Banks usually close by 3 PM on weekdays and are closed on weekends and holidays. Plan your visit accordingly.
Digital Banking and Apps
Once your account is open, you can register for online banking. This is useful for checking balances, making domestic transfers (called “furikomi”), and managing your account. Online services are usually in Japanese, but Shinsei, Rakuten, and Sony offer some English support.
You can also link your account to PayPay, LINE Pay, or other mobile apps for easy payments at stores, convenience stores, and restaurants.
Is It Easy to Transfer Money Abroad?
Most Japanese banks charge high fees for international wire transfers. If you plan to send money back home often, consider linking your account to services like Wise (formerly TransferWise), which allow you to send money overseas at lower fees.
Shinsei and Sony Bank offer better international transfer services than traditional banks.
Tips for Success
- Choose a bank near your home or workplace
- Visit during quieter times—early morning or just after lunch
- Keep your tsūchō and card safe—replacements can be a hassle
- Register for online banking and mobile apps once you’re comfortable
Conclusion: Opening a Bank Account in Japan Is Manageable
Opening a bank account in Japan is one of the most important tasks for anyone planning to stay long-term. While it might seem intimidating at first, the process is easier when you have the right documents and understand the bank’s expectations. By choosing the right bank, preparing your paperwork, and being patient, you’ll soon be ready to manage your finances in Japan like a local.
Whether you’re a student, a worker, or someone building a life in a new city, opening a bank account in Japan is your first step toward becoming part of the community.
