Last updated: June 2025. Credits to Jason Yang for providing most of the information.
Once you have your Residence Card (在留カード) and a Japanese phone number, you are ready to set up your bank account. Some banks require a hanko as well, but others like Prestia, Sony, and Shinsei Bank don’t – you can just use a normal signature. It is recommended your supervisor or one of the English teachers at your school should go with you and help you set up your account, and this is usually done on the first or second day after arriving in your placement.
Most schools/BOEs require that you use a designated bank since they usually deposit your salary automatically every month, so you may not have the opportunity to choose which bank to receive your salary in, but you can always open a second account for everyday use and transfer money from one to the other.
Another huge benefit to having a second bank account is that due to banking laws in Japan, banks will not issue debit or ATM cards on the spot at branches anymore. So if you lose yours, you may be without access to cash for a week or more while you wait for a replacement card. Having a second account means you can transfer your funds to your second account and withdraw from there as need.
Most banks in Japan are open from 9:00 am to 3:00 pm, Monday through Friday. The vast majority of banks are not open on weekends or national holidays (Aeon is the only exception).
The Best Banks
In a previous (very outdated)guide, Shinsei Bank was highly regarded as the best bank. However it has suffered a number of feature cutbacks in recent years due to its acquisition by a bigger financial conglomerate in Japan, and is no longer the best choice for most JETs.
Sony Bank
Replacing Shinsei Bank, Sony Bank has become the new “best” foreigner-friendly banking product. Sony Bank offers:
- Multi-currency debit cards that work both in Japan and abroad1
- Cashback rewards on spending (0.5% base tier, 1% Silver tier)
- Website in English (app in Japanese only)
- Free access to conbini/postal/SMBC ATMs2
- Free domestic transfers (2 per month base tier, 4 per month Silver tier)
- No fee to spend any of the supported currencies abroad, 1.8% fee to withdraw cash in supported currency or for any transaction in an unsupported currency ↩︎
- Unlimited deposits, 4 withdrawals a month base tier and 7 withdrawals a month Silver tier ↩︎
The main downside is its lack of physical branches, so any issues you encounter will have to be resolved over the phone, by e-mail, or by postal mail. Opening an account is mostly online with some additional paperwork required to be received and mailed (for US citizens, you’ll get a form asking to fill out your address and SSN. For other citizens, you’ll be asked for your home country’s tax information) which will add a week to account opening time. Once you get your debit card, you’re ready to go. If you know some Japanese it’s a good idea to download the Sony Bank and Sony Bank Wallet apps (yes, they’re separate apps) so you can send transfers and exchange money from your phone as well as to get alerts for debit card transactions.
Sony Bank also has a tiered status system called Club S. With increasing status comes increasing benefits, but for JETs, Silver is the most practical since it doesn’t have any minimum balance requirements. You just need to set up an auto-exchange from yen to any of their supported foreign currencies equivalent to 30,000 yen a month. If not, the base tier is still fine.
Opening your account in English limits your rewards options to cashback rewards. If you want to earn ANA miles, get a premium card with unlimited airport lounge access and Club S Platinum (33,000 yen annual fee), or get a discount (3%) on Playstation Store purchases instead, you’ll have to apply for your account in Japanese. Club S Platinum gives you 2% cashback on debit card spending, unlimited domestic ATM withdrawals, 11 free transfers a month, and 3 free international wires a month.
Prestia (by SMBC)
If you need branch service and are willing to pay for it or keep some money in your account at all times, Prestia also has excellent features:
- Multi-currency debit cards that work both in Japan and abroad with no bank-side fees
- Website/service in English
- No hanko required
However, the basic account has a monthly maintenance fee of 2,200 yen if the average balance is below 500,000 yen (or 200,000 yen equivalent in foreign currency) or your account balance is zero on the second day of the month when they attempt to debit the fee. Fees apply when using your card at most non-SMBC ATMs (waived for the first 6 months if the account is opened online). If you’re going to keep a bit of money in it and use SMBC ATMs (and perhaps when traveling overseas) it’s still a good choice.
Aeon Bank
If you speak some Japanese, will live near an Aeon Mall, need branch service, but don’t want to pay monthly fees for Prestia, Aeon Bank is the one for you.
- Branches open until 7pm or 8pm on weekdays and 1pm or 2pm on Saturdays
- No hanko required
- JCB/Cirrus debit card that works both in Japan and abroad (1.6% currency conversion fee plus 220 yen ATM fee)
The main downside is that their online banking infrastructure is somewhat clunky; their primary means of two-factor authentication is a “passcode card” with a grid of numbers that you will have to refer to when you log in, and you will need to set both a login password and a second transaction password for outbound transfers. Their app is also somewhat underdeveloped; download it for transaction alerts but otherwise you’ll want to log in on the website for most things.
They’re great if you plan to shop at Aeon stores often, though, since the rewards system pays out in their own points. They also have a tier system, which unlike Sony, counts more than just foreign currency deposits or paying an annual fee; for example, Silver tier (2 withdrawals a month and 1 free bank transfer) can be achieved with 1 yen in foreign currency deposits and signing up for online banking. Spending 80,000 a month on the debit card will get you Gold tier (3 withdrawals a month and 3 free bank transfers).
Banking Vocabulary
| Banking Term | Japanese | Romanji |
|---|---|---|
| Amount | 金額 | kin-gaku |
| Balance Inquiry | 残高照会 | zan-daka-sho-kai |
| Bank | 銀行 | gin-ko |
| Bank Account | 口座 | ko-za |
| Bank Account Number | 口座番号 | ko-za-ban-go |
| Bank Account Type (Checking/Savings) | 口座の種類 (普通/貯蓄) | ko-za-no-shu-rui (fu-tsu/cho-chiku) |
| Bank Branch Number | 店番号 | mise-ban-go |
| Bankbook | 通帳 | tsu-cho |
| Bankbook Update | 通帳記入 | tsu-cho-ki-nyu |
| Cancel | 手続き取り消し | te-tsuzuki-tori-keshi |
| Change/Correct/Revise | 訂正 | tei-sei |
| Confirm | 確認 | kaku-nin |
| Deposit | お預け入れ | o-azuke-ire |
| Direct Cash Transfer | お振り替え | o-furi-kae |
| Transfer | お振り込み | o-furi-komi |
| Withdrawal | お引き出し | o-hiki-dashi |
| Withdrawal after checking balance | 残高照会後お引き出し | zan-daka-sho-kai-go-o-hiki-dashi |
| Yen | 円 | en |
| ￥1,000 note(s) | 千 | sen |
| ￥10,000 note(s) | 万 | man |
ATM Guide
Hours & Fees
Major urban banks sometimes have 24-hour ATMs available, but most ATMs will typically close at 7:00 pm on weekdays, at 5:00 pm on Saturdays, and have limited afternoon hours on Sundays. Many convenience stores have ATMs, and these are usually open as long as the store is.
ATMs also charge different fees (typically around ¥100-¥200) for withdrawal depending on the day and time you use them, and whether or not you are using your own bank’s machine or that of another bank. They will usually have a chart displayed on or near the terminal to indicate the fees.
General Operation
ATMs in Japan operate similarly to what you experience back in your home country. Although there might be subtle differences, a typical cash withdrawal is quite straightforward and familiar once you understand the layout. If you’re not confident or unable to read Japanese, some banks and all konbinis have an English option and the translated options are very clear. However, they may give you a heavily restricted version of their services, with some only allowing withdrawal of cash.
Below is an image of the options that you might come across from a Japanese ATM
Referring to the Banking Vocabulary earlier on, the two buttons that you’ll commonly use is お引き出し(withdrawal) and お振り込み (transfer). Sometimes you might tap on お預け入れ (deposit). Regardless of the option, you will always need to:
- Insert your bank card (or/and bank book)
- Input your 4 digit pin
- Select whether you would like a receipt (発行する) or not (発行しない) on the final page
- Take your bank card (or/and bank book) with you once you’re done
Other Banking/Payment Services
Wise
You may have heard or come across this before (and already have one) and is highly recommended amongst many travellers and expats. Wise functions similarly to a bank account has recently become a very easy and popular service to store and transfer money around, especially in multiple currencies. Wise is a good way for you to also withdraw your money from your Japanese bank account and transfer it into your home country’s bank account.
Wise does have a very decent mobile app, Visa/Mastercard issued debit card (physical and digital) and Apple Pay/Google Wallet functionality that works in Japan. It’s a good alternative if you’re not bothered setting up a second bank account. The sign up process is all online or through the app. If you haven’t already, you can open up an account in your home country and switch your Wise account to the Japan region later to enable transfers from your Japanese bank account into your Wise account.
Wise does not charge a fee for transfers from your Japanese bank account (see guide here) and can be done at an ATM or if available, through online banking. However, your Japanese bank may charge a small fee depending on the amount of the transfer. Wise will only charge a small fee when exchanging between currencies and transfers into another bank account.
Revolut
Another alternative is Revolut. In many cases, it can work out to be a cheaper option (zero fees up to ¥750,000 a month as long as you exchange on weekdays). However it can be a bit of a hassle to set up. If you already have a Revolut account, you will have to close it and reopen one in Japan, and you will permanently lose the Revtag you’ve created (and you can’t get it back even if you return home and reopen an account in your home country).
Unlike Wise, Revolut is app-first, so you’ll need to download the app to set it up. To get started on international transfers, you’ll either need a My Number card during the verification process or you’ll need to message support to show them a copy of your residence certificate with My Number printed on (this can be requested at city hall). Once verified (this often happens same day if on a weekday), your account is ready to use, including a virtual Visa card that you can use for online purchases or through Apple Pay. If you want a physical card, it’s ¥500, or free if you sign up for Premium.
Revolut functions a little differently than Wise. When you tap the “details” on your yen balance, you’ll be given account details for an account at Rakuten Bank. You’ll need to send a bank transfer from your Japanese account to this account, then you can exchange it to another currency before spending it or transferring it to another bank account. You can also add money from any Japanese issued Visa or MasterCard debit card for free, but money added this way can only be spent through the Revolut Visa card, not sent to a bank account.
Revolut charges nothing to exchange up to ¥750,000 a month to foreign currency with one big catch- there’s a 1% “weekend charge” that applies when exchanging between 6:00AM on Saturday and 7:00AM on Monday. This fee is waived if you decide to pay for Premium (¥9800 annually). There’s also a 0.5% fee if you exchange more than 750,000 of foreign currency a month (also waived with Premium).
Revolut’s premium tier can be worth paying for if you’ll be exchanging during weekends a lot, or you plan on using your card abroad. Revolut allows you to withdraw ¥50,000 equivalent a month while outside of Japan without fees on a Premium account, with a 2% fee applying to any cash withdrawn above that amount. The limit on a standard account is ¥2500 equivalent. If you don’t think you’ll need to withdraw cash abroad, or you can remember to do your exchanges during weekdays, then the Standard plan is perfectly fine.
PayPay
PayPay (not the PayPay Bank Account) is a very popular payment system using a QR-code to pay or transfer from your Japanese bank account. It is widely accepted at many restaurants, shops and some online stores and you can earn points that can be used to cover certain future payments. They can also be used to pay your utility and tax bills.
The app is quite easy to navigate and has an English option. The sign up process does require a Japanese phone number and ID verification (Residence Card + My Number Card or Residence Certificate) before being able to link your Japanese bank account. Do note that the app can only be found on the Japanese App Store.
Withdrawals from Your Home Country Account
Once you arrive in Japan, you’ll probably use some of the money you’ve saved up to get you settled in before your first paycheck. If you want to withdraw money from your home country’s bank account, you now have quite a few options, from 7-Eleven to Aeon to the post office. Push the English button (or “International Cards” on Aeon ATMs), and follow the cues to withdraw from your home account. You can choose from either your savings or checking account.
Since 7-Eleven has a deal with Mastercard, withdrawls from a Mastercard issued debit card does not incur a fee from the ATM. Aeon don’t charge for most bank debit cards, Lawson and the post office charge 220 yen, and E-net ATMs (found in most FamilyMarts) charge an eye-watering 660 yen.
Banking Tips
- Many small local banks in the prefecture don’t offer debit cards at all or are just reluctant to provide the application as you are seen as a ‘temporary resident’.
- If you wish to send money to someone else, you must ask for their bank account details and then perform a bank transfer into that person’s account using your online banking. Note that fees may apply if they are not with the same bank/branch with you. If they have PayPay, ask for their details/phone number to transfer fee-free.
- When you make a bank transfer into someone else’s account, you will be asked if you want to record a transaction. This recording saves all of the details of the particular transfer and will save you the time of entering all the information again if you make another transfer to the same bank account again in the future (especially handy for transfers to your Wise account).
- Japanese banks do not send their customers bank statements each month. Instead, you will either get a bankbook (“tsucho”), or you will be told to log in to online banking to check your transactions online (“web tsucho”).
- Choose the transaction you want to make before you put your card in (if you just put your card in without making a selection, it will automatically take you to the withdrawals screen or in some cases, it will not let you insert your card at all)
- When making a withdrawal, enter the amount you want followed by the yen key (円). You will receive your card and receipt first and then the cash.
- You will be asked after making a deposit whether or not you want a receipt. It is a probably a good idea to get one in case you ever need to dispute a transaction.
- When you deposit cash at the ATM, you don’t need a bank deposit slip. Just put the money in the slot (some even accept coins, but confirm this before you put them in) and that’s that.
- ATMs give withdrawals in ¥1,000 and ¥10,000 bills, and sometimes will dispense coins in all denominations as well. Some ATMs gives you the option to break the ¥10,000 bill into 10x ¥1,000 bills.
