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How to Open a Bank Account in Japan
A Japanese bank account is needed for a salary, rent and most utility and phone contracts. Japan Post Bank (ゆうちょ銀行, Yucho Ginko) is the usual first account for foreign residents: it has branches in post offices nationwide and accepts newcomers that many other banks turn away.
At a Japan Post Bank branch
Accounts are opened at Japan Post Bank branches and at the counters of many post offices. Bring:
- your residence card (在留カード), showing your current registered address and a period of stay of more than 3 months;
- your passport;
- your name in katakana, written the way it will appear on the account;
- a personal seal (inkan), if you have one, as a signature is usually accepted instead;
- a student or employee ID, if you have one.
The bankbook (通帳) is usually handed over on the day. The cash card follows by registered mail, typically within 1 to 2 weeks. If you miss the delivery, request redelivery quickly: a card returned to the bank can delay the use of the account.
Staff at most branches speak only Japanese, so bring someone who can help if you can. Branches can be found with the official Japan Post branch finder.
Online with the Yucho Tetsuzuki app
An account can also be opened from a smartphone with Japan Post Bank's Yucho Tetsuzuki app (iOS and Android). You need:
- a residence card valid for more than 3 months;
- a smartphone to scan the card and take an identity photo;
- an email address.
Once the application is approved, the cash card is mailed to your registered address.
Under the Foreign Exchange Act, banks treat most people who arrived less than 6 months ago as non-residents. Some domestic transfers from a non-resident's account are then handled, and charged, as international transfers. The status does not change by itself: once 6 months have passed, visit your branch and ask for it to be switched to resident.
Cash card or debit card?
A standard Japan Post Bank account comes with a cash card, which works at ATMs only. To pay in shops or online from the account, apply separately for a debit card. Automatic payment of utility bills from the account is usually arranged in person, with your cash card, residence card and seal or signature.
Which Bank to Choose in Japan
Unless you need a loan, five things decide which bank suits you:
- ATM access, near your home and workplace;
- ATM fees, and when withdrawals are free;
- online banking, for transfers and payments without visiting a branch;
- international transfers, if you send or receive money from abroad;
- English support, in the app and from customer service.
Japan Post Bank (ゆうちょ銀行)
The easiest bank to open as a newcomer, with ATMs in post offices across the country. Withdrawals with your own card at a Japan Post Bank ATM are free whenever the ATM is open, weekends included. Since January 2022, withdrawals at other banks' and convenience-store ATMs always carry a fee. Online banking is in Japanese only.
Best for: a first account, and anyone who lives far from a city centre.
SBI Shinsei Bank (SBI新生銀行)
Formerly Shinsei Bank, it is one of the few Japanese banks with English online banking and English customer support. Its PowerFlex account gives free withdrawals at partner convenience-store ATMs and at least one free online transfer to another bank each month, more as your balance and activity grow.
Best for: anyone who wants to manage their account in English.
Sony Bank (ソニー銀行)
An online bank with an English version of its online banking, opened from a smartphone. Its Sony Bank WALLET Visa debit card pays in yen and in foreign currencies, and the bank handles foreign currency deposits and remittances.
Best for: English speakers who also hold or send foreign currency.
Online banks: Rakuten Bank, PayPay Bank, Seven Bank
- Rakuten Bank suits people who already shop and earn points with Rakuten;
- PayPay Bank links directly to the PayPay payment app;
- Seven Bank has ATMs in every 7-Eleven and runs its own international money transfer service.
These banks work mostly or entirely in Japanese.
Comparison of the main banks
| Bank | Opening for newcomers | English online banking | Free ATM withdrawals |
|---|---|---|---|
| Japan Post Bank | Easiest (branch or app) | No | At Japan Post Bank ATMs, at any time |
| SBI Shinsei Bank | Online | Yes | At partner convenience-store ATMs |
| Sony Bank | Online (smartphone) | Yes | Depends on account tier |
| Rakuten Bank | Online | No | Depends on account tier |
| Seven Bank | Online | No | At Seven Bank ATMs, within limits |
Fees and free allowances change often: check each bank's current fee list before you choose.
How to Make a Bank Transfer in Japan (Furikomi)
A domestic bank transfer is called a furikomi (振込). It needs no IBAN or SWIFT code, only:
- the bank name (銀行名);
- the branch name (支店名);
- the account type, usually 普通 (ordinary) or 当座 (current);
- the account number;
- the account holder's name in katakana.
Fees are charged on most transfers to another bank, usually a few hundred yen, and more at a branch counter than online. Many banks now credit transfers immediately at any hour, but some still process a transfer made after 3 p.m. on the next business day. Rent, utilities and phone bills can be paid by automatic debit (口座振替) instead.
From your bank's app or online banking
Log in, choose 振込 (transfer) and enter the recipient's details. This is usually the cheapest way to send a domestic transfer.
At an ATM
Insert your cash card, choose 振込, enter the recipient's details and confirm. The ATMs of the large banks, such as MUFG, SMBC and Mizuho, offer an English menu. Some banks' ATMs also accept transfers paid in cash without an account at that bank, but not all do: check the options on screen.
How to Send or Receive Money Internationally
Bank transfers through SWIFT
Japanese banks send and receive international transfers through the SWIFT network. To receive money from abroad, give the sender:
- the bank name, such as MUFG or Mizuho;
- the branch name and, if asked, its address;
- your account number;
- your name in Roman letters, exactly as the bank holds it;
- the bank's SWIFT/BIC code.
A SWIFT transfer typically takes 1 to 5 business days and costs several thousand yen in total, as the sending bank, any intermediary bank and the receiving Japanese bank can each charge a fee. The bank may also ask for the purpose of the remittance (送金目的).
A wrong SWIFT code or a name that does not match the account exactly, in spelling, spacing or order, is the most common reason a transfer is held or returned.
Cheaper alternatives to a bank transfer
Money transfer services usually cost much less than a bank's SWIFT transfer:
- Wise converts at the mid-market exchange rate and charges a fee shown upfront, then pays the money into the recipient's Japanese bank account as a domestic transfer;
- Revolut offers a multi-currency account and low-cost transfers, see our guide to Revolut in Japan.
Some banks and payment apps in your home country block or question logins from Japan. Before you move, check whether yours allows access from abroad; if it does not, a VPN with servers in your home country can help.
Credit Cards for Foreigners in Japan
Japanese card issuers screen applicants strictly, and a newcomer without a credit history in Japan is often refused. Two features also set Japanese credit cards apart:
- the balance is normally paid in full each month, by automatic debit from your bank account;
- instalments and revolving payments (リボ払い, ribo barai) exist, but carry high interest.
Your card does not have to come from your bank: most people apply to card issuers run by retailers or international networks.
Rakuten Card
The card foreigners most often report being approved for. It has no annual fee and earns Rakuten Points on spending. Approval is still not guaranteed.
American Express Japan
Suited to people who travel and spend abroad, with travel benefits and membership rewards. Most cards carry an annual fee, which depends on the card.
MobalPay (prepaid)
A prepaid Mastercard designed for foreign residents, issued in Japan. You top it up before use, so there is no credit check and no Japanese bank account is needed. Some merchants, such as many gas stations and highway toll booths, do not accept prepaid cards.
| Card | Type | Annual fee | Best for |
|---|---|---|---|
| Rakuten Card | Credit card | None | Everyday spending and points |
| American Express Japan | Credit card | Depends on the card | Frequent travellers |
| MobalPay | Prepaid card | See Mobal's current fees | No credit history in Japan |