Banking in Japan: Best Banks for Foreigners

Opening a bank account in Japan is essential for daily life. Here's what you need to know about Japanese banking.

Bank Options

Japan Post Bank (ゆうちょ銀行)

Best for: New arrivals, simplicity

Shinsei Bank (新生銀行)

Best for: Tech-savvy users, international transfers

MUFG Bank (三菱UFJ銀行)

Best for: Business, large transactions

SMBC (三井住友銀行)

Best for: General banking, credit cards

How to Open an Account

Requirements

• [ ] Residence card (在留カード)
• [ ] Passport
• [ ] Japanese address
• [ ] Phone number (Japanese)
• [ ] Hanko (personal seal) — some banks still require

Process

1. Visit the bank during business hours
2. Fill out application — staff will help
3. Provide documents — residence card, passport
4. Deposit initial amount — ¥1 minimum usually
5. Receive ATM card — mailed to your address in 1–2 weeks
6. Set up online banking — optional but recommended

Banking Tips

ATM Usage

• 7-Eleven ATMs — accept foreign cards, 24/7
• Japan Post ATMs — accept foreign cards, 5 AM – 11 PM
• Bank ATMs — may not accept foreign cards
• Withdrawal limit — ¥100,000/day typically
• Fees — ¥110–220 per withdrawal (foreign cards)

Online Banking

• Japan Post Bank — Simple, English support
• Shinsei Bank — Best online experience
• Rakuten Bank — Good for tech users

International Transfers

• Wise (formerly TransferWise) — Best rates, recommended
• Revolut — Good for travel
• Bank wire — Expensive (¥2,000–5,000 per transfer)
• PayPal — Limited in Japan

Currency Exchange

Tips

1. Japan Post Bank is easiest for new arrivals
2. Bring your residence card — required for all banking
3. Set up online banking — saves trips to the branch
4. Use 7-Eleven ATMs — best for foreign cards
5. Notify your home bank — before transferring money
6. Keep receipts — for tax purposes
7. Learn banking Japanese — or bring a Japanese-speaking friend