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Explanation of conditions, required documents, and recommended banks for foreigners to open a bank account.

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Bank of Japan

Opening a bank account is one of the most important procedures for foreigners living in Japan for a long period of time. A bank account is necessary for various aspects of daily life, such as receiving salary and part-time job pay, paying utility bills, and making deposits. However, due to the different banking system and language barrier from their home country, many foreigners may be confused about the requirements and necessary documents for opening a bank account.

Therefore, this article will explain in detail the requirements and necessary documents for opening a bank account so that foreign residents can open a bank account smoothly. We will also introduce specific banks that we recommend for foreign residents. Let's get your life in Japan off to a comfortable start by completing the opening of a bank account.

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Requirements for foreigners to open a bank account

Foreign nationals must meet certain requirements to open an account at a Japanese bank. Most banks require that you have been in Japan for at least 6 months. This is to prevent unauthorized use of your account by short-term visitors. However, some banks, such as Japan Post Bank, will allow you to open an account if you have been in Japan for at least three months.

In addition, a certificate of residence and a residence card must be presented to open an account. These documents will verify your status of residence and address.

Foreign residents who do not meet the requirements may also open an account in the form of a "Non-Resident Yen Deposit. However, please note that there are some restrictions on non-resident Yen deposits, such as automatic withdrawal of utility bills is not allowed and cash cards are not issued.

First, check to see if you meet the requirements for opening an account before starting the procedure.

What is required to open a bank account for a foreigner (required documents)

When opening a bank account in Japan, foreign nationals, like Japanese nationals, are required to submit several documents. However, the types of documents required may vary from bank to bank, so it is recommended that you check in advance.

1. identification

Official identification such as a residence card or passport is required. The residence card, in particular, is required to be presented at many banks. If you do not have a residence card, a combination of your passport and resident certificate may be acceptable in some cases.

【 Required Identification 】

  • certificate of residence
  • A resident card
  • passport
  • health insurance card
  • Driver's license, etc.

2. proof of address

A copy of the residence certificate, utility bill, or other document that verifies the applicant's current address is required. Utility bills are often accepted if they are related to public services such as electricity, gas, and water, but be aware that a cell phone bill may not be sufficient.

3. personal seal (some banks do not require one)

Even if you are a foreigner, you will need an inkan (seal) to open a bank account in Japan. Since seals can be made in katakana or alphabet, you should make a seal with your first name, family name, or full name.

As will be introduced later, some banks, such as Mitsubishi UFJ Bank, do not require a personal seal to open an account. If you have difficulty in preparing your personal seal, you can use such banks.

4. phone number

You must register a phone number in Japan as your contact information. Either a landline or cell phone is acceptable. If you have not yet obtained a phone number in Japan, ask the bank if you can use the phone number of a friend or acquaintance at work as a substitute.

3 advantages for foreigners to open a bank account

For foreign residents living in Japan, there are many advantages to opening a bank account. Here we detail three of the most important advantages.

Receive salary and part-time job pay via bank transfer.

When working in Japan, most salary and part-time job payments are made by bank transfer. In some cases, part-time workers may be able to receive their pay in cash if they wish, but bank transfers are generally accepted due to company accounting procedures. If you have an account opened, receiving your salary will be smoother and less time-consuming for the employer.

2. utility bills can be paid by direct debit

Many people pay for public services essential to life in Japan, such as electricity, gas, water, and telephone, by account transfer. Some services offer the option of paying by credit card, but in the unlikely event that a payment cannot be made because the credit card has reached its credit limit, it will be treated as unpaid, and the customer will have to transfer the money later.

On the other hand, if you complete the account transfer procedure, there is no need to worry about forgetting to make payments, and there is no limit on the maximum amount, making payments convenient and reliable.

3. can make deposits

Many people living in Japan want to save their salary, bonus, pocket money, etc. If you have a bank account, you can safely deposit your money. With a bank account, you can safely deposit your money, and you don't have to worry about language barriers since you can choose between Japanese and English for ATM operations. Also, with a debit card, you can pay for everyday purchases directly from your account, which is very convenient.

Four recommended banks for opening bank accounts for foreigners

Among the many banks in Japan, we have carefully selected four that we recommend to foreigners. All of them have a nationwide network and offer services that are easy for foreigners to use.

1. Japan Post Bank

Japan Post Bank is a bank that utilizes the nationwide network of post offices in Japan. It is easy to use because of its social credibility and large number of branches and ATMs. Foreign residents can open an account by simply presenting their residence card, and the procedure is simple. However, foreign students and technical intern trainees will need to submit additional documents such as a certificate of enrollment or certificate of employment. Also, please note that those whose period of stay is less than three months may not be able to open an account.

Mizuho Bank, Ltd.

Mizuho Bank has a well-developed overseas office and a reputation for its foreign currency remittance service. While a resident card is required to open an account for foreign residents, the Mizuho e-Account service is also convenient, as it can be applied for via the Internet and does not require a visit to a branch to complete the account opening process. The key point of this service is that even those with a short period of stay in Japan or non-residents in Japan can open an account without having to issue a bankbook.

Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Banking Corporation is one of the megabanks with a nationwide network of branches. Many of the staff at the counter are able to speak English, making it possible for foreign residents to use the bank's services with confidence. A residence card is required to open an account, and if your period of stay is less than three months, the bank may not be able to accommodate you. Students may also be required to present a student ID card, so it is advisable to check in advance.

4. Bank of Mitsubishi UFJ (seal not required)

Mitsubishi UFJ Bank is one of the largest banks in Japan and is recommended for foreigners. One major difference from other banks is that you do not need a personal seal to open an account. The procedure can be completed with only identification documents such as a residence card or passport, which is especially recommended for those who have difficulty preparing a personal seal. In addition, Mitsubishi UFJ Bank has many branches and ATMs throughout Japan, and its overseas remittance service is also very convenient. Many staff members are available in English, so you can receive services without worrying about language barriers.

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summary

When a foreigner opens a bank account in Japan, he/she may be required to present a residence card or go through other conditions and procedures that differ from those for Japanese nationals. However, once the necessary documents are prepared and the conditions are met, opening an account is not a difficult process.

A bank account is an essential part of life in Japan, such as receiving salary, paying utility bills, and managing money. We recommend that you complete the procedures for opening a bank account as soon as possible after your period of stay in Japan exceeds 3-6 months.

Open an account with one of the banks recommended for foreigners in this article to make your life in Japan more comfortable.

For more information on opening an account in Japan, please also check the following article.

・How to open a bank account in Japan? Introduction of necessary belongings and recommended banks.
・The Complete Guide to Japanese Debit Cards for Foreigners!

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