Bank Accounts
 

I'm moving permanently to Tokyo soon and am looking for some advice on setting up a bank account.

First, I've been told I'll need a hanko to open an account. Can anyone give me an idea of 1) where I can have one made 2) how long it will take and 3) roughly what it will cost?

Second, I'd appreciate any recommendations on which banks you've had positive experiences with or heard good things about. My office is right next to Tokyo Station, so getting to most bank's 本店 isn't a problem, if that makes a difference.

Finally, once I've got an account, what's the best way to move money (~$5k)from a US bank over? Will they accept a cashier's check, or am I better off taking the hit and paying for a wire transfer over?

Any other random bits of advice are more than welcome too.
Thanks for the help again.

There are hanko shops all around. They are usually small and in the shotengai around most train stations. If you can't find one, ask at a stationary store.

I think a custom hanko is about 5000 yen, and it is your signature, so treat it as important as your credit cards. They made mine in a day, I think.

I'd recommend Citibank, as they have offices in Japan and the US. You can open the account in the US now, get the debit card, and use it in Japan.

yeah i was going to recommend citi as well. they're pretty much everywhere in big cities. since you're staying in tokyo, i doubt you'd need much more. wiring is the easiest safest way to transfer funds. casheirs check will have to be sent out for collections by their bank, which is a timely process.

I'm not sure I've enough time (< 2 weeks) for the card to arrive.

Could I make transfers between US and JP w/ Citi? I've heard Citibank JP and Citibank US are seperate corporate entities, so would I still have to pay fees?


Also, on a very loosely related note, since I'll be without an account for at least a few days, how much $$ do you think I should take with me? Between just the hanko and the train from narita, I'll already be out ~$100...

Thanks for the advice guys.

airport limos (buses) are quite cheaper, you might want to look into one of them.

you may have a point with the citi accounts being seperate, my bank (where i work) has seperate companies from west and east coast. we can access their system but its a bit troublesome. but i don't forsee much of a problem, if anything i'd say open a citi "free checking" or something of the like with a minimum deposit stateside. then in japan, see if you can use/access the account at a citi bank branch (of course you can use the atm). Also another idea (not the safest) is bringing over cash and having them exchange it for you for whatever rates/fees.

hope that helps

if u don't mind making a wee bit of a scene, and being a "foreigner" albeit speaking japanese, u should be able to open an account without a hanko. i did. then again, it took my 2 h, but suddenly out of the blue i was able to open an account through signature.

/blimp, who has a last name consisting of seven kanas

LOL using the gaijin card 101

i have a hanko if you wanna borrow it :mtongue:

i can't believe hankos are more legit then a signature, since they'd be so easy to copy/steal and use. funny japan sticking to old culture.

Ask your employer if they can get you a hanko before you arrive. My employer was nice enough to do this for me. If they can't get you one, I'm pretty sure there is a shop in Tokyo Station which can make you one (if they don't already have one in stock with your name).

It's simpler to bring cash with you. You'll have to pay a fee for converting your dollars to yen, but you'd have to pay a fee even if you wire the money, and there's a charge for wire transfers. You can bring up to $10k with you without having to fill out a tax form. Keep your cash in your carry-on bag. Checks are pretty much unknown in Japan, you may not have immediate access to your funds if you try to deposit a cashiers check.

As for banks, I recommend Shinsei Bank. There is a large branch on Yaesu-dori within walking distance of Tokyo Station. Just go out the Yaesu Central Exit from the station, it faces Yaesu-dori. Shinsei bank is at the third traffic light on the right side of the road. They have English speaking tellers there if your Japanese skills are lacking.

My gf likes Shinsei bank because they don't charge the fees which most other Japanese banks charge. I have an account with Citi, but I plan to close it and move over to Shinsei as well.

Citi Japan and Citi America are different entities. I was unable to link my US Citi account to a Japanese Citi account. A US Citi ATM card will work at some machines, including Post Office ATMs, but it will not work in most convenience stores.

I have a Bank account with the Japanese Post office because it is free and has a atm in nearly every city (im travelling alot). also getting money of the atm is free and it operates in english.
But to get money on it you will probably need to send it from the US post office or bring it cash.... and i had to go to another Bank to transfer money for my guest house because the post office is not linked to all banks in japan, so i think youll better go with the bank suggested by the others.

My hanko took a little bit longer and cost around 5000yen. It actually only has my second name in Romanji on it, so it feels kind of insecure,but its officially legal. But you might be able to open a account just with signature.

For getting into Tokyo, i spend only 10USD for the train to Ueno and around 2USD for the subway, but if youre more inside you will probably spend a bit more. I would say around 20USD a day for food if you reduce yourself to the basic (eg, ramen, good lunch deals, fast food, convienince store,....). But i guess you will be without money supply for at least 1 month. To open a bank account you will need a alien registration card, wich will take 2 weeks at least. If you are lucky you can open it with a cetificate that you can get when you apply (you have to ask for it!) And it will take at least another week if not 2 till you get your papers and card after your opened your account, so i would take some cash and a card for emergencys.

I just meant it will work at the Citibank ATMs, but you will be charged a fee.

Thanks for the advice everyone.

I've heard from other people that Shinsei is good as well and the location is convenient. Do you know if they've got a lot of ATMs, or is it going to be a bit of a hunt to find one when I'm not in central tokyo?

What do you use to get to Ueno? I've gotta make my way to the Tokyo Eki ultimately, but if it's only $10 go to Ueno I can afford to pay for the extra train ride...

Does anyon know what the alien registration card is called in japanese? Likewise, what should I ask for to get the certificate?


You guys are life-savers

There are 2 train going from the Airport to Ueno. One will be around $20 and will be a bit faster and the other one is a local train wich stopps everywhere and cost around $10.
From Ueno to Tokyo its only a short train ride with the Yamanote or the Keihei Line (4 stations) so it´ll cost something around $3, but i think even less.

The Alien Registration Card is called Gaikokujin Shomesho (im not sure how to write it) but its something like this in Japanese 外国人登録.
To get that you will need to find out where the ward office for your House will be (ask your company or the ppl you rent your room from). Im not sure how that other document is called and im also not sure if you can open a bankaccount with it, but give it a try. It is like a certification that you aplied for the Alien certification.

Edit: It took me 80 min from Narita to Ueno and cost 1000yen. Im not sure if there isnt a train running directly to Tokyo Eki, just ask at the desk.

Where will you be living in Tokyo? Ueno is only 4 or 5 stops from Tokyo station, and the fare is only 180 yen.

The alien registration (gaijin) card is known as the gaikokujin toroukushou. In order to get one, you need your passport, visa, and hanko (ymmv, some offices want you to hanko your paperwork, others will let you simply sign it).

You apply for the card at your local city office. You'll need your residence address, and your employer's address as well. You'll also need to bring passport photos, which you can get for 700 yen at photo booths located at or around train stations and such.

Processing the card generally takes less than two weeks. You'll be given a receipt to carry while your card is being made. Most banks will not accept this receipt to open an account, so you'll most likely need to wait for the card. When the card is finished, you can pick it up in person from the city office.

There are Shinsei bank ATMs in many major stations, but you can access your account from pretty much all convenience stores. ATM fees from "outside" machines are usually 210 yen.

I've been to Tokyo a couple of times before, so i'm decently familiar with the main parts of the city, transporation system, etc. I've only gone in from Narita once though, so i'm still looking for a best method for that.

I'll be living in 南砂町, which is in 江東区 a few stops east of 東京駅 on the 東西線. I've already looked up the city office for applying for the 登録書, so that shouldn't be a problem either.

Is there anything I need for opening a bank account besides my passport, alien registration, and hanko?

the certificate of alien registration (alien registration card) is called, or rather the name for it is, "gaikukujin touroku shoumeisho" 外国人登録証明書.

and concerning the original content of ur post, u don't necessarily need ur alien registration card to open a bank account. a driving license or the "insurance card" will do just fine. i would actually recommend that, since they don't have an "entry-into-the-country-date".

Yes, you can use a license or an insurance card at some banks to open an account. But neither of those options apply to someone who is just entering the country. It may take longer for your employer to get your insurance card than it does for you to get your alien registration card. As for getting a license, that's a significant step to take, and will certainly take more time and be much more expensive to get than an alien registration card.

Save yourself the travel and the trouble. Apply for your alien registration card the day after you arrive. It should be ready within ten days.

1. sangetsu, we r not all holders of a US driving license. getting a driving license took me all together, 4-5 h. unfortunately i forgot how much i paid for it. 4,000 yen perhaps. a bonus for the poster is that one of the two driving license centres in Tokyo is close to minami-sunamachi. now, if he or she (the poster) has no driving license or only has a driving license from a country without a mutual recognition agreement with japan it is indeed a wee bit more complicated.

2. the insurance card, as a regular employee u don't have to do anything.
unfortunately i don't remember how soon u get it.

3. my understanding is that u can open a bank account at any bank using either a driving license or the insurance card.　pls, prove me wrong.

4. why i recommend not using an alien registration card is that some major domestic banks won't let ppl with less than 6 months in japan open up a bank account.

Yes, you can get open an account with a license (and in come cases, an insurance card), but even so, you need the residency card to get the license, right?

good question, i don't remember.

Can anyone give me any suggestions as to how to move $$ from my US account to my Japan one?
One person suggested I wire transfer it, but I'm not sure about the costs or logistics of it.
Any ideas?