# Banking



## steadyboy

Can anyone tell me how easy/difficult it is to open a bank account in Japan. Do the tellers in high street branches speak English?


----------



## synthia

In spite of everyone having studied English for six years in school, there are not many people who actually speak the language to any degree. It depends to some extent where you are living. In Kitakyushu, a city of about 1 million, there was one person at my branch who spoke English, and they pulled her out every time I had a question. My bank account, my lease, my utility bills...all that was set up by trailing around with the office manager at the school where I taught.


----------



## larabell

Even in Tokyo, I've never had much luck finding English-speaking staff in Japanese banks. In general, though, it's often easier to find someone who can *read* English than someone who can speak it. Bring a pad and pen ;-).

If you're in a major city like Tokyo or Osaka, I might also recommend Citibank. They have some really odd rules (like a minimum age, one account per person, etc) but they will almost certainly have a few folks on staff who can speak decent English.

I'd still recommend at least one account at a Japanese Bank, though, as Citibank can only do automatic monthly transfers to certain landlords, certain utilities, etc. On the other hand, if someone sends you a personal ckeck while you're here, Citibank is the only place I know of where they'll even know what to do with it.

BTW, you'll almost certainly need your gaijin card to prove you're actually living here. Apparently there's a regulation against non-resident non-Japanese holding bank accounts in Japan.


----------



## synthia

I banked with Fujibank.

The Japanese went straight from cash to direct depost and bank transfers, skipping checks altogether, so they are very strange things to them. You won't be given checks by anyone in Japan, so any checks you receive from home should be sent back for deposit in a bank account you have retained at home. And you should keep an account at home.

It would not be unusual for you to pay your first month's rent, your deposit, and your 'key money' in cash, even if that meant carrying around ten thousand dollars or more.

If you are going to be working, your employer should help with this.


----------



## larabell

One thing I forgot to mention is that the the old Daiichi-Kangyo bank (now part of Mizuho) used to have a reputation for the most number of English-capable ATMs in Japan as well as being the first Japanese bank to offer an English button on ATMs. In many larger areas (Shinjuku, Shibuya, etc), I've noticed that other banks now offer English-capable ATMs (competitive pressure, maybe?) but since I don't use the English button any more, I wouldn't be able to say whether they *all* have that capability. I'd still recommend Mizuho for your Japanese account just on principle.


----------



## synthia

When I lived in Kitakyushu, the ATMs were inside the bank, and only available during regular banking hours. It seems they hadn't figured out that the idea is to provide round-the-clock banking service. They were so complicated, with all the options to pay your electric bill and other things, my bank had a woman stationed there at all times to help people. If you didn't need help, you got a nice deep bow out of it.


----------



## Sevenhelmets

*Shinsei*

Shinsei bank is your best bet, if you don't speak or read much Japanese. 

They're the only Japanese bank that offer bilingual internet banking and phone banking, and signing up for an account takes all of about 10 minutes - the longest part being "what color" you want your ATM card in (not kidding!). 

Their branches, however, aren't exactly places of great English speaking ability, which is odd (considering how much they bandy the "we're the only English speaking bank in Japan" moniker). I've been to the Ikebukuro one (where I opened my account), their Shinjuku one and their Yokohama one, and none of them could speak more than the standard broken phrases remembered from school days. 

The Ikebukuro one had a handy little printed sheet of common English phrases that the girl could read off....it was quite cute. 

Unfortunately they recently decreased the number of free cash transfers within Japanese banks from 5 a month to just 1, so I can't be as trigger happy paying bills and whatnot now....although to be fair it costs 300 yen per transaction thereafter, and that isn't a WHOLE lot of money....I guess....

I would post the URL but as I'm a new user I can't post links, so search for it via Google


----------



## larabell

I went into Shinsei in Shinjuku when I was changing jobs (figuring that was as good a time as any to change banks too). When I inquired about auto-payment of my rent and utilities, they informed me that they could only make automatic transfers to a select number of payees and my landlord (and, if I recall right, at least one of my utility payments) didn't qualify. Not very convenient, if you ask me. Especially considering that their English isn't up to what one would expect, given their claims.

On the other hand, most Japanese banks (including SMBC, which I eventually chose) offer *any* free transfers other than those set-up to be automatic.


----------



## Sevenhelmets

larabell said:


> I went into Shinsei in Shinjuku when I was changing jobs (figuring that was as good a time as any to change banks too). When I inquired about auto-payment of my rent and utilities, they informed me that they could only make automatic transfers to a select number of payees and my landlord (and, if I recall right, at least one of my utility payments) didn't qualify. Not very convenient, if you ask me. Especially considering that their English isn't up to what one would expect, given their claims.
> 
> On the other hand, most Japanese banks (including SMBC, which I eventually chose) offer *any* free transfers other than those set-up to be automatic.


I'm not sure what they were on about. Except for my electricity bill, all my other regular bills (rent, water, gas, even a hire purchase on a large ticket item) are paid via auto deduction directly from my account. You simply have to fill in a form that authorises the company to deduct, and the rest is done.
I can't remember exactly why, but I opted to pay my electricity bills via the combini way.

Perhaps they meant that they can only do this with the major companies? I'm with all the usual suspects when it comes to the utilities (Tokyo Gas, Yokohama Waterworks etc etc) and my landlords are Mitsui Fudousan, and finally the HP is handled by JACCS so perhaps only big companies can do it.

In any case, the OP was asking how easy it was to open an account in Japan, and was curious about the English speaking level, so I was simply pointing out that out of most of the banks in Japan, Shinsei is the most "English friendly" of the Japanese banks. Of course there is Citibank as well, but someone already suggested them.


----------



## steadyboy

thanks for all your help guys. From what you say it would appear the best bet is to set up standing orders for Rent and Utilities, use Internet banking for any other transfers and use ATMs to withdraw cash. Unless I learn a whole lot more Japanese any direct contact with the bank might be difficult.


----------



## synthia

One of the reasons I didn't go the automatic payment route was that the bank charged something like 500 yen for every payment.


----------



## larabell

Geeze... what bank did you use? For rent and utilities (and, with my former bank, ATM transactions) I haven't been charged a fee in 10 years. It's probably a good point to bring up and possibly more important than English ability, since once you have things set-up, it's unlikely you'll need a real bank teller for quite a while...


----------



## synthia

Fuji. I was there in the early 90's. There was one woman at the bank who spoke English, and someone ran and got her whenever I entered the bank. The ATM was only available during bank hours, was inside the bank, and came complete with an attendant who would help everyone with their transactions, including their bill payments and transfers.


----------



## beatnik

*banking in english???*



steadyboy said:


> Can anyone tell me how easy/difficult it is to open a bank account in Japan. Do the tellers in high street branches speak English?


you can easily open an account in Japan. I don't think you will have too hard a time finding a banker with English skills to assist you. I asked my friend and I think the only requirement for an american is to have an address.


----------



## Sunshine Gal

Hi,

Besides having a bank account in Japan, I actually understand from my friend that you can actually something called 'offshore banking'. This means that u can hv a bank account outside Japan and yet can access to it. Heard that banks in Singapore do offer too. In this way, u can forget abt d worries of having staff nt being able to speak English.

Let me know if u need the contact.

Cheers,
Sunshine Gal




steadyboy said:


> Can anyone tell me how easy/difficult it is to open a bank account in Japan. Do the tellers in high street branches speak English?


----------



## larabell

I'd be interested in the details of offshore accounts. It might be a good way to stash money someplace other than Japan. But I seriously doubt it would be workable as a substitute for having a local account. Having "access" to your money isn't quite the same as being able to set-up auto-deposit for your income, auto-payment for rent and utilities, and being able to send money to another person or business via the ATM machines. These things are essential parts of living in Japan and I would be willing to bet money that the Singapore account doesn't support those kinds of day-to-day transactions.


----------

