Bank Accounts In Japan

[*LOACH*]

Hi,

Anyone know a Japanese bank account which is good for transferring money to Australian bank accounts. At the moment when I need to send money back to Australia I use the post office which costs about $50.

Thanks in advance.

[elrodeo666]

Citibank Japan is good but you will have to give them your Oz account number when you setup your account. They have internet banking which is setup pretty well, plus you get decent exchange rate.

Theres a few others but I found Citibank the easiest for transferring coin domestically and internationally. the only drama is you need to keep 500,000yen in your account otherwise you will incur a monthly fee.

[adam87]

im with mitsui and its about the same price.

but iv found that if you have a friend or someone who wants something from japan worth a bit, ie wheels or something like that, i buy that here with your own yen and send it to them and then they deposit the correct amount of cash into your bank account in aust. this way you get a good rate and dont pay any bank fees for the transfer and even make a bit out of it for doing them a favour

[Amayama]

Hi,

Anyone know a Japanese bank account which is good for transferring money to Australian bank accounts. At the moment when I need to send money back to Australia I use the post office which costs about $50.

Thanks in advance.

Like Adam said local banks aren't any cheaper than the post office so might as well continue using JP, although banks are faster by a least a few days IIRC.

[*LOACH*]

Thanks guys, most appreciated.

Yeah I checked the rates for Citibanks International Remittance and they are actually higher (even when done online) than the post office so I guess I will keep using that. I want it for savings transfers, although Adams idea is fantastic, I dont know anyone one in Australia who wants to buy anything from here. Would be the best way to do it though.

I have to get an account as my new job requires pay to go into it (no more cash pay unfortunately) so I guess I will just go with the cheapest one for monthly and ATM fees.

Thanks again everyone.

[elrodeo666]

Thing is the post office will limit your amounts of transactions out of Japan.

If you are looking large amounts of coin Citibank or similar is the go or setup a FX account.

I dont like using any of the Japan banking systems but have used Citibank for years and have moved lots of coin through for business and no questions asked.

Mizuho are pricks.

[*LOACH*]

Thing is the post office will limit your amounts of transactions out of Japan.

If you are looking large amounts of coin Citibank or similar is the go or setup a FX account.

I dont like using any of the Japan banking systems but have used Citibank for years and have moved lots of coin through for business and no questions asked.

Mizuho are pricks.

I dont really have any necessity at the moment to send more than 400/500k yen at a time and I think the post office maximum is well in excess of that (1mil to 3 mil or something) so post office seems ok.

I had a look at a JP bank account and it seems pretty good, no minimum amount in bank required, no account keeping fees, can use with keitai accounts, as cheap if not cheaper than doing cash international remittances, can use as a Visa or others (free first year and free forever if linked to a keitai), no ATM fees if using a post office ATM, fees not to expensive if using a conbini ATM.

The only problem I have found so far is that a Japanese friend said that some companies will not direct deposit pay into JP bank accounts because it was originally a National owned bank the system is different to most of the others. Has any one heard of problems getting pay into JP bank accounts? Any other problems with JP bank?

Thanks heaps for your help guys, even if it doesnt seem like I am taking advice your comments are definitely helping me in the right direction.

[Amayama]

I dont really have any necessity at the moment to send more than 400/500k yen at a time and I think the post office maximum is well in excess of that (1mil to 3 mil or something) so post office seems ok.

I had a look at a JP bank account and it seems pretty good, no minimum amount in bank required, no account keeping fees, can use with keitai accounts, as cheap if not cheaper than doing cash international remittances, can use as a Visa or others (free first year and free forever if linked to a keitai), no ATM fees if using a post office ATM, fees not to expensive if using a conbini ATM.

The only problem I have found so far is that a Japanese friend said that some companies will not direct deposit pay into JP bank accounts because it was originally a National owned bank the system is different to most of the others. Has any one heard of problems getting pay into JP bank accounts? Any other problems with JP bank?

Thanks heaps for your help guys, even if it doesnt seem like I am taking advice your comments are definitely helping me in the right direction.

Yes I've had that too, company wouldn't pay into a JP account so had to take out an account with the same bank as they were using... ended up only being there for 6 months!

I can't think of any other probs with a JP account. I've had one since forever as a "savings account" and is good because I forget about it for months and never withdraw from it.

[13Beast]

Lloyds Bank do transfers and charge 2000 yen flat charge regardless of the amount you transfer. No limit transfers too.

They take no time whatsoever - I have had it in my Australian account less than 48 hours later.

Very good exchange rates, and you can hook it up as an account working off your Nihon account.

Pure gold for ease of use.

[*LOACH*]

Lloyds Bank do transfers and charge 2000 yen flat charge regardless of the amount you transfer. No limit transfers too.

They take no time whatsoever - I have had it in my Australian account less than 48 hours later.

Very good exchange rates, and you can hook it up as an account working off your Nihon account.

Pure gold for ease of use.

Thanks mate will look into it now that I have a JP account to link it to.

[patsmanpost]

Bit of a thread revival, but you might still find this helpful.

Lloyds Bank do transfers and charge 2000 yen flat charge regardless of the amount you transfer. No limit transfers too.

They take no time whatsoever - I have had it in my Australian account less than 48 hours later.

Very good exchange rates, and you can hook it up as an account working off your Nihon account.

Pure gold for ease of use.

I too use Lloyds, their servics is called "Go Lloyds", and you can get daily rates sent to your email, so you can pick a good time to send.

While the fee is only a flat 2000 yen, they also hit you again for another $15 depending on what Aussie bank you have.

As for domestic banks, I've got an account with Shinsei Bank, which is really good.

Online banking in English, and withdrawals from most bank's ATMs are free.

I'm not sure where you are, but Shinsei is only in the Kanto area.

[*LOACH*]

Bit of a thread revival, but you might still find this helpful.

I too use Lloyds, their servics is called "Go Lloyds", and you can get daily rates sent to your email, so you can pick a good time to send.

While the fee is only a flat 2000 yen, they also hit you again for another $15 depending on what Aussie bank you have.

As for domestic banks, I've got an account with Shinsei Bank, which is really good.

Online banking in English, and withdrawals from most bank's ATMs are free.

I'm not sure where you are, but Shinsei is only in the Kanto area.

Thanks mate. I have been using a JP bank account for a few months now and have found it pretty good (only being able to use free ATM withdrawls when the Post Office is open can be a hassle though).

As far as international remittances go I am getting such a small amount of money after all the deductions taken out in my new job that it will be a long time before being able to send anything back. Hopefully I will get a pay rise in April - I might even get more money than I could get on the dole in Australia.....awesome!!!

I am in central Japan (Chuubu) so no Shinsei Bank for me.

Thanks again for the info though.

[FVEJ]

Hi,

Anyone know a Japanese bank account which is good for transferring money to Australian bank accounts. At the moment when I need to send money back to Australia I use the post office which costs about $50.

Thanks in advance.

Hi Loach, you posted this thread in August so you might have sussed this by now, but as the thread is still alive I will add my 2 yen.

A good way to send money back to Oz fast and cheap, is to get an international ATM card from one of the big Japanese banks, not all banks offer an international ATM card but the one I use is Sumitomo (there are others). If you open an account at a Japanese bank you will get a bank book, and an ATM card (you may have to specifically request an international ATM card).

Hold on to the bank book so you can deposit funds into the account either at the bank atm, or transfer into the account by internet banking, and send the international ATM card to your friend/family in Oz.

Bang your coin into the Japanese bank account, and your friend/family can withdraw the funds direct from any ATM with a cirrus symbol in Australia (almost all ATMs in Oz have the cirrus symbol).

Funds can be deposited into your Japanese bank account, and can be withdrawn from the ATM in Oz with your international ATM card. Funds deposited in Japan, can be withdrawn the same day in Oz. And with Sumitomo, the exchange rates are the regular bank rates, and there are no hefty fees for withdrawing funds in Oz this way. As far as I know, Sumitomo doesnt charge any fees for this sweet service.

If you do open a new bank account in order to get an international ATM card, I wouldnt specifically say to the bank teller that you are opening a new account just to withdraw funds in Oz, because I am sure all the banks want their $50-$100 transfer fee for a regular TT transfer. But using an international ATM card is a good way to get funds back to Oz, without having to pay the TT fee, funds are available instantly, and it works.

[*LOACH*]

Hi Loach, you posted this thread in August so you might have sussed this by now, but as the thread is still alive I will add my 2 yen.

A good way to send money back to Oz fast and cheap, is to get an international ATM card from one of the big Japanese banks, not all banks offer an international ATM card but the one I use is Sumitomo (there are others). If you open an account at a Japanese bank you will get a bank book, and an ATM card (you may have to specifically request an international ATM card).

Hold on to the bank book so you can deposit funds into the account either at the bank atm, or transfer into the account by internet banking, and send the international ATM card to your friend/family in Oz.

Bang your coin into the Japanese bank account, and your friend/family can withdraw the funds direct from any ATM with a cirrus symbol in Australia (almost all ATMs in Oz have the cirrus symbol).

Funds can be deposited into your Japanese bank account, and can be withdrawn from the ATM in Oz with your international ATM card. Funds deposited in Japan, can be withdrawn the same day in Oz. And with Sumitomo, the exchange rates are the regular bank rates, and there are no hefty fees for withdrawing funds in Oz this way. As far as I know, Sumitomo doesnt charge any fees for this sweet service.

If you do open a new bank account in order to get an international ATM card, I wouldnt specifically say to the bank teller that you are opening a new account just to withdraw funds in Oz, because I am sure all the banks want their $50-$100 transfer fee for a regular TT transfer. But using an international ATM card is a good way to get funds back to Oz, without having to pay the TT fee, funds are available instantly, and it works.

That is AWESOME!!! will have to look into that. Hopefully the monthly account keeping fees are low.

Thanks enormously for taking the time to post, most appreciated.

[8110]

Does Sumitomo have online banking and if so it is available in English?

[adam87]

Does Sumitomo have online banking and if so it is available in English?

online is here

http://www.smbc.co.jp/index.html

but not in english. once you know the kanji in it youll be right

also, family mart is now doing international bank transfers through there fami-port machines. really easy

Edited February 14, 2011 by adam87

[8110]

Well in that instance. As a foreigner (not residing in Japan), what options do I have to open an account with a bank over there that offers internet banking in English. What about minimum balance requirements?

Many thanks.

[elrodeo666]

Zero unless you have gaijin card or have a business in Japan.

[8110]

What if I get a Japanese company to issue a letter stating that I am employed under them? If that would help, what bank choices do I have that have English internet banking facilities?

[elrodeo666]

If your employed by them you should have no problems getting a gaijin card.

Basically a bank will need to see your gaijin card with current address as a minimum.

You'll probably need all these if your opening an account with Japanese owned banks..

Alien Registration Card (gaikokujin torokushomeisho) or Alien Registration Completion Certificate if your card has not been issued yet. <li>Personal Seal (inkan or hanko) <li>Personal Seal Certificate (inkan shomeisho) from your local public office.

If you dont have these then forget it as you'll have buckleys as the Japanese are anal on their paperwork.

Your only option after that is to get an investment visa which will take a few months, you'll need at least $50,000,000yen plus a good 200,000-300,000yen to get it all registered.

Only other option is to get a Japanese girlfriend to open an account in her name for you.

More info here

http://forum.gaijinpot.com/forumdisplay.php?11-Banking-Sending-Money

http://injapan.gaijinpot.com/2010/08/04/setting-up-a-bank-account-in-japan/

Citibank

S