Opening a Bank account in Japan is one of the most fundamental things to do when you first shift to Japan. Getting your very own bank account is a simple procedure in Japan with clear instructions to follow and a fast-paced system in place. Let us look at the process of opening a bank account in Japan.
- Keep your documents ready – This is the first step towards opening a bank account in Japan. All Japanese banks require your passport, residence card, and personal seal for authentication and verification. Although some banks do accept a signature in place of your seal, it is most often not a guaranteed option. Keeping these documents handy can save you a lot of time during the process of opening up a bank account in Japan.
- Once you visit the Japanese bank, you will be given a couple of forms to fill out. These will include personal details such as your name, address, employment, etc. Sometimes this form may be required to be filled out in Japanese, so it is a good idea to take someone familiar with the Japanese language with you.
- Upon submission of the filled-in forms, you may be required to pay a small amount (a few hundred yen) as deposit money (oazukeire).
- You will then be asked to generate your four-digit pin code to be used during the card transactions.
- A little after this, you will be handed your passbook. A passbook, called ‘tsucho‘ in Japanese is used to track the record of bank transactions made. It is also useful as evidence of you being the Japanese bank account holder.
- You may not receive your ATM cash card the same day due to additional formalities to be undertaken before delivery. Most often, your card will be dispatched to the address mentioned in the application form within 5 -10 business days. Your cash card, also known as kya-shu-kaa-do in Japanese, will display your name, account number and the name of the bank. You can opt for a credit or debit card.
You can opt to open bank account in Japan with any of these banks: Mitsubishi UFJ, Mizuho Bank, Resona Bank, Shinsei Bank, and Japan Post Bank. These are the most popular banks that offer services like online banking, customer support and offer debit/credit cards.
Having a bank account in any country is a necessity to be able to reside peacefully. Cash and card transactions are smooth and most often effortless in Japan due to a well-defined banking structure in place, thereby making bank accounts safe and secure. All the best!