Moving to Japan is undoubtedly one of the most exciting adventures you’ll ever embark on. There’s nothing quite like the surge of excitement when you first step onto Japanese soil, knowing a whole new chapter of your life is about to begin. But just as you’re about to dive into a bowl of life-changing ramen, you remember there’s one essential task you need to tackle first: setting up a bank account.
That’s right—before you can truly immerse yourself in the whirlwind of adapting to your new home, opening a bank account is a must. Without one, even getting paid will be impossible! In this guide, we’ll walk you through the process of opening a bank account in Japan, provide useful Japanese phrases to make the experience smoother, and share practical tips to help you avoid common pitfalls.
What Bank To Go For
When it comes to choosing a bank in Japan, there’s no definitive “right” answer. To borrow from Orwell, “all Japanese banks are equal, but some are more equal than others.” A few things you won’t find at most major Japanese banks are: competitive interest rates, user-friendly online interfaces, or free international transactions. With those limitations in mind, the real differences often lie in the ease of account setup and the quality of customer service. Let’s dive into some of the top contenders.
Sony Bank: The Most Equal of All
Sony Bank is a lifesaver for many foreigners in Japan. Not only can you sign up entirely in English, but you’ll also receive a Visa debit card immediately upon opening your account. This makes it easy to jump right into online shopping for all the essentials you might have forgotten to pack.
Sony Bank charges a fee of 110 yen for cash withdrawals from its partner ATMs (available at 7-Eleven, JP Post Offices, Lawson, and more) but doesn’t add extra charges for out-of-hours transactions. Its online interface is arguably the best you’ll find among Japanese banks. However, English support is only available via live chat, as they don’t provide English-speaking agents for phone assistance.
JP Post: Ubiquity and Convenience
If you’ve spent any time in Japan, you’ve probably noticed the countless post office branches scattered across the country. Whether you’re in a tiny village or on a remote island, there’s almost always a manned post office nearby.
The main advantage of a JP Post bank account is the sheer accessibility of its ATMs, which are everywhere. Even better, ATMs located in post offices are free to use—an excellent feature in Japan’s cash-based economy.
That said, applying for a debit card with JP Post can sometimes be tricky, though it’s not impossible. While you can sign up online with an English option, the process isn’t as polished as it could be, so expect a bit of confusion along the way.
SBI Shinsei Bank: A Popular Choice with Some Drawbacks
SBI Shinsei Bank has long been a favorite among foreigners in Japan. However, as of October 1, 2024, they discontinued their English-language phone support, which had been one of their standout features.
Despite this, their documents and web pages still offer solid English-language support. Opening an account with SBI Shinsei involves filling out forms that will be sent to you by mail. Fortunately, they’re accustomed to working with foreign customers, so the process is relatively smooth.
One major downside is that SBI Shinsei doesn’t provide a debit card—a surprising omission in today’s age of online shopping.
Essential Japanese
No matter how much English support a Japanese service offers, it’s never a bad idea to be equipped with the Japanese yourself. Here’s a table of common banking and finance terms you might encounter:
| English | Japanese | Romaji |
|---|---|---|
| Bank | 銀行 | Ginkō |
| Account | 口座 | Kōza |
| Savings Account | 普通貯金口座 | Futsū yokin kōza |
| Checking Account | 当座貯金口座 | Tōza yokin kōza |
| Deposit | 貯金 | Yokin |
| Withdrawal | 引き出し | Hikidashi |
| Balance | 残高 | Zandaka |
| Interest Rate | 金利 | Kinri |
| Debit Card | デビットカード | Debitto kādo |
| Credit Card | クレジットカード | Kurejitto kādo |
| Transaction | 取引 | Torihiki |
| Fee | 手数料 | Tesūryō |
| Insurance | 保険 | Hoken |
Let’s dive into some common conversations you might encounter when opening a bank account. One of the biggest challenges in navigating Japanese business settings is the use of 敬語 (keigo, or formal language), which can be particularly daunting for foreigners. Pay close attention to some of uses of the honorific お o and ご go which can be hard to get your head around in formal settings.
Example 1: Opening a Basic Account
Bank Teller: いらっしゃいませ。今日はどのようなご用件でしょうか？
(Welcome. How can I help you today?)
You: 口座を開設したいです。外国人ですが、可能ですか？
(I’d like to open a bank account. I’m a foreigner; is that possible?)
Bank Teller: はい、大丈夫です。パスポートと在留カードをお持ちですか？
(Yes, that’s fine. Do you have your passport and residence card?)
You: はい、持っています。それとマイナンバーも必要ですか？
(Yes, I have them. Do I also need my My Number card?)
Bank Teller: はい、必要です。それでは、こちらの用紙に記入をお願いいたします。
(Yes, it’s required. Please fill out this form.)
You: わかりました。ありがとうございます。
(Got it. Thank you very much.)
Example 2: Discussing Account Features
You: 新しい口座を開設したいんですが、どんな種類がありますか？
(I’d like to open a new account. What types are available?)
Bank Teller: 普通預金口座と定期預金口座があります。普通預金口座は引き出しや振り込みが簡単にできますが、定期預金口座は利率が高いです。
(We have regular savings accounts and fixed deposit accounts. A regular savings account allows easy withdrawals and transfers, while a fixed deposit account offers higher interest rates.)
You: 普通預金口座を開きたいです。それで、デビットカードは作れますか？
(I’d like to open a regular savings account. Can I get a debit card with it?)
Bank Teller: はい、デビットカードを作れます。口座開設後に郵送されますので、到着まで1～2週間かかります。
(Yes, you can. The debit card will be mailed to you, and it will take 1–2 weeks to arrive.)
You: わかりました。よろしくお願いします。
(Understood. Thank you.)
Example 3: Addressing Language Barriers
You: すみません、日本語があまり得意ではありません。英語で説明してもらえますか？
(Excuse me, my Japanese isn’t very good. Could you explain in English?)
Bank Teller: 申し訳ありませんが、英語を話せるスタッフがいません。ただ、こちらに英語の案内がありますのでご利用ください。
(I’m sorry, but we don’t have English-speaking staff. However, we have these English guides you can use.)
You: わかりました。ありがとうございます。このフォームを記入すればいいですか？
(Understood. Thank you. Should I just fill out this form?)
Bank Teller: はい、そうです。記入が終わりましたら、窓口にお持ちください。
(Yes, that’s correct. Once you’re done, please bring it to the counter.)
You: わかりました。ご協力ありがとうございます。
(Got it. Thank you for your help.)
So there you have it, all the Japanese you’re likely to need to open a bank account in Japan!
