How to open a bank account in Japan (transfers, exchanges, cash cards…)

The biggest benefit to having a Japanese bank account is to receive pay from your employer. In order to open an account, you must have registered your address at the city hall and possess a local phone number. It is not mandatory to have a My Number to open a bank account. Our Japan arrival guide explains how to do all of this.

There are several banks that offer services in English or don’t require a hanko stamp, a personal seal that most Japanese people use when an official signature is required. These foreigner-friendly banks include Japan Post Bank, Mizuho, Tokyo-Mitsubishi UFJ, Sumitomo, Resona, and Shinsei Bank. Services offered are generally quite similar: checking account, cash card, and a free bank book.

The cash card will allow you to withdraw cash from your Japanese bank account, but it cannot be used to make online purchases or pay in stores. If you want to do this, we explain what options you have in chapter 4.

Choosing a bank

1. Yucho (Japan Post Bank)

Often the first choice for foreigners, Japan Post Bank has a great reputation. It is easy to open an account. You don’t need a hanko stamp, and the forms are available in English. However, after account opening, all other processes will be in Japanese (but those processes are generally not relevant to working holiday makers). Note that operations more advanced than deposits and withdrawals, such as transfers, will be blocked until 6 months after your account has been opened. The services are basic, but for a WHV holder looking to just receive pay and withdraw cash, they are more than sufficient.

2. Shinsei

Shinsei has been a long time favourite of expats and working holiday makers. The procedures are quick and the personnel sometimes speak English (especially in Shinjuku, Nihonbashi, and Roppongi locations). The website is also available in English. The hanko stamp is not necessary. The cash card is free and there are no account holding fees. However, you must have already lived in Japan for at least 6 months in order to open an account with them.

Unlike other banks, Shinsei does not provide bank books, which is something that Japanese employers always ask for. Not to worry: the account number (kōza bangō) can be found on your card, and the brand number can be easily found on the internet. This will be enough for your employer.

In addition to the standard bank card, Shinsei also offers a prepaid card. This card will allow you to make online purchases and pay by card in stores.

3. Mitsubishi Tokyo UFJ

This bank is very well established but requires clients to have a hanko stamp. In general, traditional Japanese banks are a bit less accommodating of working holiday makers who don’t speak Japanese.

Application steps

Go to your bank and branch of choice. No appointment required, but there may be a wait.

It’s possible that the personnel will not be fluent in English, so if possible, bring a Japanese-speaking friend with you. Otherwise, tell the staff “ginkô kōza wo hirakitai desu” (I’d like to open a bank account) and they’ll figure out how to best serve you.

Bring your passport and resident card. If you have a hanko stamp or a My Number card, bring that too. You’ll also need to provide a Japanese phone number and address. Also be prepared to write your name in katakana characters.

An initial deposit of ¥1000 is often required, so bring that in cash.

Some WHV holders have shared that they were turned away because they tried to open an account toward the end of their visa’s expiration date. It is therefore advised to open one early on in your stay.

You may be asked some surprising questions like if you belong to any criminal organizations. Banks in Japan have the legal obligation to pose these questions during account creation.

Once your account is open, you must notify your bank of all changes in your situation (address, residence status, employment etc). You should also close your account prior to definitively leaving Japan.

Transfering money to a Japanese bank account

To transfer money into your Japanese account, we recommend that you use an intermediary such as Wise to save on fees (first transfer free with Wise if you use our link). For example, you can use Wise to easily and cheaply convert dollars or pounds into yen, and then transfer those yen to your Japanese bank account.

Transfers via PayPal are possible, but the limits are quite low, so it may not be the best option.

You could also transfer from a foreign bank to a Japanese bank. Note, however, that depending on what your home bank’s policies are, it can be complicated to add a Japanese bank as a transfer recipient. In any case, you must register your My Number to your Japanese bank account before performing international transfers, otherwise your transaction will be refused by the Japanese bank.

To receive direct deposits into your Japanese bank account, you will need to provide the following account information to the sender:

• Name of bank, kin’yūkkan-mei (金融機関名)
• Branch number (3 digits), shiten-mei (支店名)
• Account number (7 digits), kōza bangō (口座番号)
• Your name in katakana, as printed on your bank book
• Account type. For working holiday makers, this is usually just an ordinary deposit account, futsū yokin (普通預金)

Foreign bank cards

If you don’t want to or don’t need to open a bank account in Japan (maybe because you’re not planning to work), you can use your foreign credit or debit card pretty much anywhere in the country. Upon each transaction (purchase or withdrawal), the amount in yen will be automatically converted into your home currency based on real time exchange rates, and then applied to your balance.

Note, however, that your credit card might charge international transaction fees (usually no more than 3%). Local Japanese ATMs may also charge a flat fee, around ¥110-220.