Steps for Foreigners to Open a Bank Account in Japan

If a foreigner is going to live in Japan for a long time, they will need a bank account. When you open a bank account in Japan, you may feel uneasy because the procedures seem complicated. This article introduces the necessary documents and how to choose a bank when opening a bank account in Japan for a foreigner.

*This information is current as of March 2024

Requirements for foreigners to open a bank account in Japan

There are certain conditions for foreigners to open a bank account.

1. Must be a "resident" for a period of stay of at least 6 months; Japanese banks do not open accounts for "non-residents". This is required by law. Therefore, non-residents who have been in Japan for less than six months are not eligible to open an ordinary account.
   
2. Must have a resident card; When a foreigner opens a bank account, a residence card is required. A residence card is a certificate issued to foreigners staying in Japan for more than three months.

Source:金融庁監督局　外国人顧客対応にかかる留意事項　金融庁　外国人の方の預貯金口座・送金利用について　財務省　外国為替及び外国貿易法（外為法）の概要

What you need to open a bank account

Although required documents differ from bank to bank, in general, "identification documents" and a personal seal are required.

Identification documents

Documentation showing name, address in Japan, and date of birth is required. Take your residence card with you. In addition, your passport will be a great help.

判子/hanko(stamp)

In Japan, when signing a document, a hanko is sometimes stamped along with the signature.

These days, some banks do not require a personal hanko to open an account. However, it is useful to have a personal hanko because there are other times when it is needed besides when opening a bank account. You can also order original one online, so check it out. Some banks also ask for a student ID if you are a student, or an employee ID if you are working. Check the bank's website or contact the bank in advance to confirm.

Source：金融庁　外国人の受入れ・共生に関する金融関連施策について

Some banks may require you to put money into your account when you open an account. When you go to the bank to open an account, bring some cash with you.

How to choose a bank to open an account

Know the services offered by each bank

Before opening a bank account, research each bank carefully. Basically, any bank allows deposits, withdrawals, transfers, and account balances. Other services and features vary from bank to bank. With internet banking and apps available, it is very convenient to make transactions easily from home or on the go. There are also banks that allow international money transfers and banks that accept multiple currencies, so find the bank that best suits your needs.

Check the fees

Fees may also be charged for withdrawing money from ATMs and for transfers and remittances.
Some banks have lower fees, so it is a good idea to compare them by fees.

Make sure that the bank offers good support

Good customer support at the bank will help you when you have a problem. Also check to see if multilingual support is available. You may want to look up reviews of that bank or ask around.

Procedures for opening an account

Although the procedure can be done online these days, we will explain the process of doing so at a bank counter.

Make an appointment to visit the store in advance

Some banks allow you to open an account without an appointment.
However, banks are often crowded, so it is recommended to make an appointment in advance. It will shorten the waiting time. Also, please note that bank counters are open weekdays from 9:00 to 15:00.

Fill out the application form and submit the required documents

Fill out an application form to open an account at the bank. (name, address, date of birth, occupation, etc.) Once you have filled out the application form, submit the required documents you have prepared.

Review Account Terms and Conditions

When going through the account opening process, be sure to read the Terms of Use carefully.
Each bank and account type has its own rules and regulations regarding fees and transaction limits.
If you don't understand something, ask.

Receive a bankbook and cash card

Once the procedure is completed, the bankbook can be picked up on the spot. Your cash card will be mailed to you at a later date. It usually takes about one week to 10 days to arrive at your home. Identification documents are required at the time of pickup.

Manage your bank account

Check your deposit and withdrawal records

We recommend that you review your deposit and withdrawal records to see if there are any unauthorized transactions that you do not recognize. If there is a transaction you have not made, contact the bank immediately to check the status.

Set up automatic payments

It is convenient to set up automatic payment (automatic withdrawal or transfer) for utility bills such as water, gas, and electricity. Once you set that up, you will be paid automatically on the date you specify.　This saves you the trouble of transferring the money yourself and prevents you from forgetting to pay.

If your address changes, you need to change it

If your address has changed, you must go through the change procedure. If you leave the account without contacting us, you may not be able to use the account.

Close your bank account when you return home

When you return home, close your bank account. Cancellation can be made at the bank counter. It is a crime to sell or buy a bank account (cash card, bankbook, login ID and password, etc.) that you no longer use. If you do so, you will be imprisoned for up to one year or fined up to 1,000,000 yen, so please keep this in mind.

Conclusion

Foreigners may often find it difficult to open a bank account in Japan. If you are not confident in your Japanese, we recommend going to the bank with someone who speaks Japanese or using a translation app.

Also, once you open an account, manage it properly and be sure to go to the bank to complete the necessary procedures when your personal information changes or when you no longer use the account.

More information:

• 金融庁「長期在留予定の外国人の方へ」Financial Services Agency, "For Foreign Nationals Planning to Stay in Japan for a Long Time"
• 出入国在留管理庁「外国人生活支援ポータルサイト「日常生活のルール」 Immigration and Immigration Management Agency, "Portal Site for Assistance in Daily Life for Foreign Residents, "Rules for Daily Life"". Information about bank accounts and remittances is available in a variety of languages, including English and Chinese.