Nomae Expats
Infrastructure

Infrastructure — 2.1

Banking & Money Stack

The Japanese banking system rewards patience and punishes ignorance. Build the right combination of accounts from day one — retrofitting is painful.

1–2 weeks

Time to first account

6–12 months

Time to premium cards

3–4

Accounts to hold

0.4–0.7%

Transfers via Wise (typical)

The Optimal Stack

No single bank in Japan does everything well. The goal is a three-layer stack: a primary transactional account, a high-yield savings option, and an international transfer channel. Build these in sequence.

BankBest forForeigner accessNotes
Japan Post Bank (ゆうちょ)First account, cash access nationwideHighEasiest to open with just residence card. Low interest, but ubiquitous ATMs.
Rakuten BankOnline banking, Rakuten ecosystemHighSolid online UX. Links to Rakuten Card and Rakuten Securities.
SBI Sumishin Net BankHigh-yield savings (SBI Hybrid)MediumBest interest rate among accessible banks via SBI Securities link.
Sony BankInternational transfers, FXMediumBest FX rates of any Japanese bank. Multi-currency accounts available.
SMBC / MUFG / MizuhoEnterprise, long-term credibilityLow (initially)Require 6–12 months of established residency. Worth pursuing later.

Recommended sequence

Week 1: Japan Post Bank. Week 2–4: Rakuten Bank. Month 2–3: Sony Bank for FX. Month 6+: Major city bank when you have history.

Opening Accounts: What You Actually Need

Japan Post Bank

  • Residence card (在留カード) — mandatory
  • Passport

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Opening Accounts: What You Actually Need

Japan Post Bank

  • Residence card (在留カード) — mandatory
  • Passport
  • Japanese address (住所) — must be registered at ward office
  • ¥1,000 minimum initial deposit (cash)
  • No Japanese phone number required at some branches, but helpful
  • In-person at any post office branch — takes 20–40 minutes

Rakuten Bank (online)

  • Residence card scan (front and back)
  • Japanese phone number — required for SMS verification
  • Japanese address
  • Application online — account active in 5–10 business days
  • Initial deposit: ¥1 minimum, but top up for full functionality

Important

Some online banks reject applications if your registered address has high turnover (shared housing, student dorms, certain monthly apartment providers). If rejected, try with Japan Post Bank in person first — build your history, then apply online.

Credit Cards: The Realistic Timeline

Japan's credit scoring system is conservative and largely invisible to foreigners. You have no credit history when you arrive, regardless of what you have in your home country. Building it takes 6–12 months minimum.

CardAvailabilityAnnual feeBest feature
Rakuten CardImmediately after Rakuten BankFreeMost accessible. Good for Rakuten ecosystem rewards.
Epos Card1–3 months residencyFreeAccepted at Marui department stores. Easy approval.
Marriott Bonvoy AMEX Japan6–12 months history¥49,500Premium hotel points. Worth it for frequent travelers.
SMBC Platinum12+ months + city bank relationship¥55,000Lounge access, concierge, high limits.
Diners Club Japan18+ months + income documentation¥27,500Excellent for international use, high limits.

Apply for Rakuten Card immediately after your Rakuten Bank account is active. Even if rejected, reapply after 3 months. This card is your credit history foundation — every other card comes easier after it.

International Money Flow

Wise

Wise is the default for moving money between Japan and abroad. Fee: 0.4–0.7% of transfer amount plus a small flat fee. Mid-market exchange rate. Holds JPY and sends to your Japanese bank account. Available to non-residents — set up before you arrive.

Sony Bank for FX

Sony Bank offers multi-currency accounts with FX rates significantly better than major city banks. If you are converting large amounts regularly (salary from abroad, investment income), Sony Bank's FX rates are worth the account setup.

For large transfers

  • Transfers over ¥1,000,000 from abroad may trigger reporting requirements — this is standard and not an issue
  • Keep documentation of the source of funds for transfers over ¥3,000,000
  • If you are a non-permanent resident (under 5 years), be deliberate about what you remit — it affects your tax position

Payment Methods in Japan

Cash is still common in Japan, especially outside major cities and at smaller establishments. Do not expect to go card-only. Build a cash management habit.

  • IC cards (Suica, Pasmo): essential for transit. Top up at any station. Apple Pay compatible.
  • PayPay: dominant QR payment app. Link to Japanese bank account. Accepted at most small shops.
  • Konbini (7-Eleven, Lawson, FamilyMart): ATMs that accept international cards — Citibank, VISA, Mastercard. ¥110–220 fee per withdrawal.
  • Japan Post Bank and 7-Bank ATMs are most foreigner-friendly for international card withdrawals.

Stripe Japan

If you are running a business collecting payments: Stripe Japan is the cleanest option. Requires a registered Japanese company and corporate bank account. Setup: straightforward once banking is resolved. Supports JPY and multi-currency payouts. Ideal for SaaS, consulting, and e-commerce.

Alternative: PayJP for pure domestic Japanese payments. KOMOJU if you need to accept JCB, Konbini payments, and bank transfers alongside credit cards.

Consulting

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