Introduction
This account seems to come up more often than one would think, so I will cover it here for reference. Note that the situation may change over time, so I will update this post as necessary.
Many Japanese banks only support Japanese language on their apps, web sites, customer support, etc. This is to be expected because:
- Over 98% of the population in Japan is Japanese.
- Most non-Japanese residents do speak read, and write the language. (Bear in mind that the majority are from Asian countries, and learn the language before coming. There are also many Japanese-born Koreans).
- Most people in Japan that don’t speak the language are tourists and business travelers who don’t (and aren’t eligible for) need a bank account here.
So, there really isn’t a strong demand for English language banking services in Japan, and in general it isn’t profitable to do so. Therefore, banks that target foreigners typically either charge more for that privileged or offer related profitable services such as overseas transfer services, etc.
To be honest, if you are living in Japan, I strongly recommend you learn the language because it will make life easier for you in every way. Having said that, I do realize that some people may be here for just a few years, suddenly assigned for their company, or may not have had a chance to learn the language for other reasons. Most importantly, as a practical matter, you need to open a bank account to get paid by most companies.
Also, since Japan has a “working holiday” program, people from various countries can come here and legally work for 6 months at a time – and we can’t expect someone learns the language just for that.
How it was
It used to be the case that English speaking foreigners could use Citibank, and Chinese speaking foreigners would often use HSBC. Both of these have closed retail banking operations in Japan now.
The current situation
With Citibank and HSBC gone, you’ll have to rely on a Japanese bank. To get an account, you’ll need to prove residency.
Choosing a bank
JP Post / Yucho Ginko
If you are on a short term student visa or working holiday, and your stay is less than 6 months, then most banks will refuse you. In this case, your best option is probably JP Bank. They are also known as Japan Post Bank, or Yucho Ginko. As the name suggests, this bank is basically run by the post office.
Apparently many foreigners don’t love this bank because it is a bit light on features – but JP Bank is safe and stable. It is the 4th largest bank in Japan by market cap in 2025. They hold over 20% of all deposits in Japan (For a total of over 129 trillion yen), and have 120 million active accounts – which means basically everyone in Japan has an account there.
In addition to the above, they have the largest number of physical branches in all of Japan. This means if you need to go to a window to talk to someone, you will always find a branch nearby – after all, you only need to go to the closest post office! (Whether they speak English will depend on the person you get).
JP Post was created to offer accounts to everyone back when many private banks only wanted wealthy customers, so even today they are one of the easier banks to open an account with.
You can apply for an account online or in person, though applying in person may be simpler for many people. Make sure to bring your Japanese ID card.
JP Bank accounts are free to set up and have no monthly fees.
Some employers will say they don’t support JP Bank for payments. This is because JP Bank used to not be part of the “Zengin” (All bank) system. Recently, they have joined, so you just need to convert your bank information to the common branch + account format used by other banks when giving it to your employer if they don’t support JP Bank directly. There is a link below in the references section that allows you to input your account information (as it appears on your cash card) and have it converted to the Zengin format to allow transfers from other banks. The financial institution code for Yucho Bank is “9900”.
Yucho has an online banking service, Yucho direct – though note it is only available in Japanese.
The standard cash card issued by JP bank is a card that can be used at ATMs only, and it does not expire. You can apply for a Visa Debit card that will allow you to do online shopping, etc. – but this card will have an expiration date, and they are fairly strict about approvals. Either way, you need to apply for the standard cash card first and then apply for the visa debit card once you receive the normal cash card.
JP Bank is a good “first” account to set up, and a good account for those staying in Japan only between 3 and 6 months.
If you don’t speak Japanese, you may find the service a bit difficult to navigate.
Prestia / SMBC Trust
When Citibank folded in Japan, their Japanese operation was acquired by SMBC Trust. They re-branded it as “Prestia”.
Prestia accounts charge a monthly fee (2,000 last we checked), unless you have a maintain a relatively large account balance.
The Prestia web site and app are available in English.
Prestia has few branches, so if you need to visit in person, there may be travel required.
Prestia ATMs are not so common, but you can use normal SMBC ATMs for free.
Prestia has a “MultiMoney” account which allows you to store both Yen and Foreign currency. This also allows you can also receive foreign currency directly.
Prestia can issue you a “GLOBAL PASS” visa debit card which supports payments in multiple currencies, and also “tap” payments using iD (in Japan) and Visa Touch (overseas and Japan).
Prestia will also allow foreigners to apply for home loans without having a permanent resident visa, and even in English if they don’t speak Japanese! Note, however that you will be paying an “English Tax”, since their rates aren’t as good as other banks.
Prestia is a reasonable option for those who travel a lot overseas and don’t speak Japanese.
Sony Bank (MoneyKit)
Sony Bank has a been around for a long time, and is an internet only bank. This means they have no physical bank branches (anymore), and no ATMs.
You can use ATMs from the following list up to 4 times per month for free:
- 7-11 ATMs
- Aeon bank ATMs
- e-Net ATMs (Mainly in convenience stores)
- Lawson ATMs
- JP Bank ATMs
- MUFJ ATMs
- SMBC ATMs
Unlike Prestia, they have no monthly account maintenance fees, and their interest rates on loans, etc. are among the best.
Like Prestia, they offer multi-currency deposits.
Their web site is mostly available in English, and of their two mobile apps, the simpler one (Sony Bank WALLET) is available in English.
Seven bank has a unique feature of allowing you to use your face as biometric identification to withdraw money from 7-11 ATMs. This is called “Face Cash“.
They offer a multi-currency account that supports 12 different currencies, and a Sony Bank WALLET Visa Debit card that also functions as a cash card – though iD isn’t supported. (You can also opt for the MoneyKit cash card if you don’t need the Visa debit functionality and don’t want to worry about expiration dates).
If your banking needs are simple and you need an account you can access in English, then Sony Bank is not a bad choice.
If you can understand Japanese, you may want to expand your search to include some of the best net banks like JRE Bank, Rakuten Bank, and Sumishin SBI.
Seven Bank
This one seems to be missing from many lists compiled in English, even though 7-11 specifically markets their accounts towards foreigners.
The difference is that while Prestia markets to posh Expats from the US and UK who don’t mind paying a monthly fee to stay in their English bubble, Seven Bank markets more to migrant workers who want a low cost account with easy ATM access, and an easy ability to send money to their family overseas cheaply.
This becomes clear when you realize that they support not only Japanese and English, but also Chinese, Vietnamese, and Indonesian.
Unlike the other banks, you can open an account at the ATM!
They will issue you a JCB Debit card that you can use for online shopping, etc., as well as at the ATM.
They also have a money transfer app for international transfers, and special support for sending money to the Philippines using BDO bank, and other countries using Western Union.
Seven Bank has at times refused to open accounts for American Citizens. This is not limited to Seven bank, and is not surprising, given the unreasonable demands by the US government for foreign banks to comply with US laws like FATCA.
Fees:
- Seven bank charges no monthly account fee, though there are fees for things like reissuing cards, etc.
- You can use any 7-11 ATM between 7am and 7pm for free. (There is a 110 JPY fee for transfers outside these hours).
- Transfers to other banks are 165 JPY.
If you need an account with convenient ATM access for free and don’t speak Japanese, Seven bank might be a good option.
If you need to make a lot of international transfers to family back home, then Seven bank has you covered.
Being a minor bank, Seven bank might not be supported by all companies (Such as credit cards) for direct debiting.
Shinsei Bank
Often considered the most foreigner-friendly, Shinsei Bank offers extensive English online banking, mobile apps, and customer service. They generally do not require a hanko and have a relatively straightforward application process.
Conclusions
If you want English speaking physical branches, 100% English support in apps and phone support, and a wide Range of services including loans, etc., then Prestia is your option – but you will pay a premium for this support.
If you just need a basic bank account with basic app & web site service available in English, then Sony Bank or Seven bank should be fine for you, and cost less than Prestia.
Of the accounts listed, JP Bank and Sony Bank are popular even with normal Japanese people. JP Bank is seen as being reliable and safe, while Sony Bank has some of the best rates around.
People often confuse “Best account for foreigners” with “Best account for English” – but these are two different things. In actuality, most foreigners in Japan do speak Japanese, and most banks in Japan will allow foreigners to open accounts provided they are medium or long term residents. This means that if you are okay dealing with Japanese, then there is no need to restrict yourself to the banks listed here. You can choose the bank with the most benefits for you, including local and regional banks, net banks with the best features, best interest rates, etc.
Even if your Japanese isn’t great, you can try to use browser plug-ins such as “Rikai-kun” to help you understand Kanji you don’t understand on Japanese web pages while learning.
| Understand Japanese? | Other Requirement | Best Bank |
|---|---|---|
| No | 3 – 6 months residency | JP Post / Yucho |
| No | Most Physical Branches | JP Post / Yucho |
| No | English online banking & App | Sony / MoneyKit Seven Bank Prestia / SMBC Trust Shinsei Bank |
| No | Might need home loan | Prestia / SMBC Trust |
| No | English Speaking Physical Branches | Prestia / SMBC Trust Shinsei Bank |
| No | Need 24/7 English phone support | Prestia / SMBC Trust |
| No | Multi-Currency Account | Sony / MoneyKit Prestia / SMBC Trust |
| No | iD debit card | Prestia / SMBC Trust |
| No | Easy International Transfers | Seven Bank |
| No | Unlimited Free 7-11 ATM use | Seven Bank |
| No | Support in languages other than English and Japanese | Seven Bank |
| Yes | More Features Lower Fees | JRE Bank Sumishin SBI Rakuten Bank |
References
- JP Bank Investment Relations Page (English)
- Wise Complete guide to Yucho Bank (English)
- JP Bank Account number conversion page (Japanese)
- Sony Bank Information Site (English)
- Seven Bank English Page.
- Rakuten Bank Information Page (English)
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