Banking Services

You can go to a post office, bank, etc. for financial services. Interest in Japanese banks is generally lower than that of overseas banks, however, so are the service charge fees.

◆ Types of Accounts

Type

Interest

Deposit and
Withdrawal
of Money

Features

Savings Account

Low

Anytime

You can set up an automatic payment of utility bills and so on.

Time Deposit
Account

High

You cannot use for a fixed period of time.

Set a period and deposit. The longer you set the time, the higher the interest gets. However, an early withdrawal lowers the interest.

**	Same types of accounts are offered at the post office.

◆ Opening a Bank Account

Choose a bank (or post office) in the convenient location, or the one that has many branches or ATM machines.
Required Items:

1.	Alien Registration Card.
2.	Name Seal (Some banks accept your signature to open an account)
3.	Money for the initial deposit.

◆ ATM Cash Cards

When opening your account, make sure to apply for an ATM cash card.

◆ Deposits and Withdrawals

It is easier to use an ATM machine to transact money than to go to the counter at the bank. It also allows you to make transactions even when the bank is closed.

◆ Bill Payment by Automatic Account Withdrawal

The most convenient way to pay regular bills such as utility bills is through Automatic Account Withdrawal. Application forms can be obtained from your bank or from the respective company.
Applications may take anywhere between 10 days to 2 months.

◆ Sending Money within Japan

You can transfer money using an ATM machine. You need to enter the name of the bank and branch, account number and account name of the payee. You can go to the counter of the bank, but its service fee is expensive, and it also takes time.

◆ Sending Money Overseas

You should go to a bank or post office. If the amount of remittance is small, the service fee is cheaper in the post office.

Sending from the bank:

1.	Fill in the Overseas Remittance Application Form (Gaikoku Sokin Moshikomi Sho) and make a payment.
2.	Issue a demand draft and send to the payee’s bank account.
**	Both procedures take a few thousands yen for the service fees. The amount of the fee differs depending on a bank.

Sending from the post office:

1.	Pay the money and the service fee, and the post office will send the Money Order (Kawase Shoshomei) to the payee’s address. The payee cashes it at his/her local post office.
2.	Fill in the International Remittance Application Form and send the money to the payee’s postal giro account or bank account.
**	The service fee differs according to the amount of remittance. When the amount of remittance is under 100000 yen, the service fee is 500yen for 1. and 700yen for 2.

For details, go to the website of Postal Savings.

Go to the website of Yubin(Japanese)

Go to the website of Yubin(English)

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