Best Banks in Japan for Foreign Residents Compared

Opening a bank account is one of the first essential steps when settling into life in Japan. Without one, you cannot receive your salary, pay rent, or set up utility payments. Unfortunately, not every Japanese bank is foreigner-friendly. Language barriers, hanko requirements, and strict residency rules can make the process frustrating. This guide compares the best banks in Japan for foreign residents so you can choose the right one for your situation.

Why You Need a Japanese Bank Account

Nearly every aspect of daily life in Japan requires a domestic bank account. Your employer will deposit your salary via bank transfer, landlords expect automatic rent withdrawals, and most utility companies require direct debit. Credit card applications, phone contracts, and even gym memberships often ask for a Japanese bank account number. While cash is still widely used, having a proper bank account is non-negotiable for anyone living in Japan long-term.

If you are still planning your move, check out our complete guide to banking and finance in Japan for a broader overview of the financial system.

Requirements for Opening a Bank Account as a Foreigner

Before visiting any bank branch, make sure you have the following documents ready:

• Residence card (zairyu card) — required by all banks
• Passport — for identity verification
• Proof of address — a certificate of residence (juminhyo) from your local ward office
• Japanese phone number — most banks require this for verification
• Personal seal (hanko) — some banks accept a signature instead
• Initial deposit — typically ¥1,000 minimum

Most banks require that you have lived in Japan for at least six months before opening an account. However, Japan Post Bank is a notable exception and allows new arrivals to open accounts without the six-month waiting period. For more on getting settled, see our guide to moving to Japan.

Best Banks for Foreigners: Full Comparison

Here is a detailed comparison of the most foreigner-friendly banks in Japan:

For information on managing your finances and understanding Japanese salary structures, see this salary and benefits guide at For Work in Japan.

SBI Shinsei Bank — Best Overall for Foreigners

SBI Shinsei Bank has long been the top recommendation for foreigners in Japan, and for good reason. The entire banking experience is available in English, from the website and mobile app to telephone support. You do not need a hanko to open an account — a signature is perfectly fine. There is no monthly maintenance fee, and ATM withdrawals at convenience stores are free depending on your account tier.

The overseas remittance fee is a reasonable ¥2,000 per transaction regardless of the amount. Shinsei also offers a multi-currency account through its GoRemit service. The main drawback is the six-month residency requirement, though this may be waived if you have proof of employment in Japan.

If you are working in Japan, our guide to working in Japan as a foreigner covers what to expect from Japanese employers.

SMBC Trust Bank (Prestia) — Best for Multi-Currency Banking

Prestia stands out for professionals who deal with multiple currencies. The bank supports deposits in 17 foreign currencies, making it ideal for those who receive income from overseas or want to hold savings in USD, EUR, or other currencies. Full English support is available at select branches, over the phone, and through online banking.

The monthly maintenance fee of ¥2,200 is waivable if you maintain a balance of ¥500,000 or more, or if you hold an affiliated credit card. Prestia is particularly popular among expats in finance and international business.

Japan Post Bank — Best for New Arrivals

Japan Post Bank is unique among major Japanese banks because it does not require six months of residency. If you just arrived in Japan, this is likely your best option. With over 30,000 ATMs located at post offices across the country, accessibility is unmatched. The online application is available in 16 languages.

The trade-off is limited English support at branches and a steep ¥7,500 overseas remittance fee. Many foreigners open a Japan Post Bank account first and then switch to Shinsei or Prestia after meeting the six-month residency requirement. To learn more about settling in, visit Living in Nihon for comprehensive guides on life in Japan.

Sony Bank — Best for Digital-First Banking

Sony Bank is an online-only bank with no physical branches. Its standout feature is the multi-currency account supporting 12 major currencies at competitive exchange rates. The English website and app make everyday banking straightforward.

However, as of mid-2025, Sony Bank stopped accepting account-opening applications through its English interface. You may need Japanese language ability or assistance to complete the application process. Despite this setback, existing English-language account holders can continue using the full English online banking system.

Rakuten Bank — Best for Online Shopping Integration

Rakuten Bank integrates seamlessly with the Rakuten ecosystem, including Rakuten Card, Rakuten Pay, and the massive Rakuten Ichiba shopping platform. The remittance fee of ¥750 is the lowest among major Japanese banks. Through the Happy Program, you can earn free ATM withdrawals (up to seven per month) and other perks.

The English application process is available, but day-to-day banking and customer support are primarily in Japanese. Rakuten Bank works best for foreigners who have some Japanese language ability and want to maximize rewards through the Rakuten ecosystem. For tips on financial planning when changing careers in Japan, check out this guide on Ittenshoku.

Seven Bank — Best for Convenience

Seven Bank operates through ATMs inside 7-Eleven stores, which means you have access to banking services on nearly every street corner in Japan. The ATMs and mobile app support English, Chinese, Korean, and other languages. While Seven Bank does not offer the full range of services that traditional banks provide, it is excellent for basic banking needs like deposits, withdrawals, and domestic transfers.

Seven Bank is especially useful as a secondary account for accessing cash easily.

How to Choose the Right Bank

Your choice depends on your specific needs:

• Just arrived in Japan? Start with Japan Post Bank — no six-month wait
• Want full English support? SBI Shinsei Bank or Prestia are your best options
• Send money overseas regularly? Consider Rakuten Bank (lowest fees) or use Wise/Revolut alongside your Japanese bank
• Deal with multiple currencies? Prestia or Sony Bank offer multi-currency accounts
• Prefer online banking? Sony Bank or Rakuten Bank for a fully digital experience
• Need ATM access everywhere? Seven Bank or Japan Post Bank have the widest networks

For a broader understanding of daily expenses and cost management in Japan, check our cost of living guide.

Tips for a Smooth Account Opening

1. Bring all documents — Missing even one item means you will be turned away
2. Visit in the morning — Banks are less crowded and staff have more time to help
3. Choose a large branch — Main branches in city centers are more likely to have English-speaking staff
4. Consider bringing a Japanese-speaking friend — Even at English-friendly banks, some paperwork may be in Japanese
5. Download the bank app first — Some banks like Shinsei allow you to start the application online before visiting

Also make sure you understand Japan's tax obligations for foreign residents as your bank account will be connected to your tax reporting.

International Money Transfers: Banks vs. Alternatives

Japanese banks charge high fees for overseas transfers, typically ranging from ¥750 to ¥7,500 per transaction, plus unfavorable exchange rates. For regular international transfers, dedicated services offer much better value:

Using a combination of a Japanese bank for domestic needs and Wise or Revolut for international transfers is the most cost-effective strategy. For more details, Tokyo Cheapo has an excellent bank comparison and MailMate covers English-friendly options in depth.

Frequently Asked Questions

Can I open a bank account on a tourist visa? No. All Japanese banks require a valid residence card, which means you need a long-term visa such as a work, student, or spouse visa.

Do I need a hanko (personal seal)? Not at every bank. SBI Shinsei, Prestia, Sony Bank, and Rakuten Bank all accept signatures. Japan Post Bank and traditional mega-banks like MUFG and Mizuho typically require a hanko.

Can I open multiple bank accounts? Yes. Many foreigners maintain two or three accounts for different purposes — one for salary, one for savings, and one for international transfers.

What if my application is rejected? Common reasons include short visa duration, less than six months residency, no Japanese phone number, or incomplete documentation. Try a different bank or wait until you meet the residency requirement.

For more practical advice on navigating life in Japan as a foreigner, explore our complete guide to daily life in Japan.