In recent years, with the yen exchange rate at a low level, many people are planning to study, buy property, or settle in Japan. Living in Japan, whether it’s receiving remittances, renting a house, shopping, collecting salaries, or paying bills, all rely on local bank accounts, bank cards, and credit cards. For foreigners, the Japanese banking system may be unfamiliar, especially for those with limited Japanese proficiency, who need to find foreigner-friendly banks to open accounts. This article will detail the main types of Japanese bank accounts, the documents and procedures for foreigners to open accounts, and featured accounts of major popular banks to help you successfully open an account.

I. What Types of Bank Accounts Are Available in Japan?

Japanese bank accounts are mainly divided into the following types, which can be chosen based on needs:

• Futsu Yokin Koza (current deposit account): Comes with a passbook, and some offer a Cash Card, suitable for daily payments and receipts.
• Teiki Yokin Koza (time deposit account): Has a fixed deposit term (e.g., 6 months, 1 year, etc.) with relatively high interest rates, but funds cannot be withdrawn or deposited at any time.
• Gaika Yokin Koza (foreign currency deposit account): Supports major currencies such as USD and EUR, which are usually stronger than the yen, helping to reduce exchange rate risks. It can be converted back when the yen depreciates if needed.

II. What Documents Are Needed to Open an Account?

Foreigners opening an account in Japan usually need to prepare the following documents (requirements may vary slightly among banks, so it is recommended to confirm in advance):

• Proof of identity: Zairyu Card (Residence Card) or Special Permanent Resident Certificate;
• Proof of address: Juminhyo (Certificate of Residence), utility bills, or rental contract, etc.;
• Inkan (seal): Required by some banks;
• Japanese phone number: For receiving verification information;
• Supporting documents: Student ID or employment certificate (provided as required by the bank).

III. Can Foreigners Open a Bank Account in Japan?

Yes, foreigners can open a bank account in Japan. Most banks allow account opening as long as you hold a valid Zairyu Card and your stay in Japan is at least 6 months. However, some traditional banks have more restrictions on student account opening, especially for short-term studies (such as 3-6 month language courses), which may make it difficult to open an account at local banks.

IV. What Is the Account Opening Process?

The general process for opening a bank account in Japan is as follows:

1. Select a bank and account type based on your needs, and understand the account opening conditions and fee standards;
2. Prepare the required documents, and apply either at a bank branch or online through the bank’s official website or APP;
3. Fill in the account opening form as prompted and set an account password;
4. Complete identity verification and wait for bank approval;
5. If you need to activate the account or collect the passbook and bank card, you can do so at the branch.

V. Which Banks Are Suitable for Foreigners?

There are several foreigner-friendly banks in Japan. Here are popular choices for expats and their featured accounts:

1. GMO Aozora Net Bank

A digital bank with no physical branches. Account opening and operations can be completed through online platforms or mobile APPs. Withdrawals can be made at ATMs of partner banks such as Seven Bank, AEON Bank, and Post Bank.

Account opening requirements: Only accepts individuals with full-time jobs in Japan (excluding part-time jobs) and with more than 6 months remaining on their Zairyu Card. Student visa holders are not accepted.

• En Putsu Yokin (Japanese yen current account): Depending on the user level, 2-20 free ATM deposits/withdrawals and 1-20 free interbank transfers are available monthly;
• En Teiki Yokin (Japanese yen time deposit account): Minimum deposit of 1,000 yen, with terms ranging from 1 month to 10 years;
• Gaika Yokin (foreign currency account): Supports 8 major currencies, with current and time deposit options. The interest rate for time deposits after converting yen to foreign currency is relatively high, but a currency exchange commission is required.

2. SBI Shinsei Bank

Foreigner-friendly with an English interface on its official website, supporting online account opening. No inkan (seal) is required.

Account opening requirements: Individuals living in Japan for more than 6 months, or with full-time jobs (non-part-time) in Japanese companies and a Japanese phone number can apply. International students are also eligible.

Account types include Japanese yen current, time deposit, and foreign currency accounts (supporting RMB). Depending on the user level, 1-10 free interbank transfers are available monthly, and at least 5 free withdrawals are allowed at ATMs of partner banks (such as Seven Bank, AEON Bank), with no upper limit in some cases.

3. Mitsubishi UFJ Bank

A large traditional bank in Japan. Non-Japanese citizens need to open an account at a branch (advance reservation is recommended) and bring identification and a personal seal.

Featured account: “Super Futsu Yokin (Super Current Deposit)”. Eligible users can get partial waivers on ATM usage fees and interbank transfer fees. Designated transactions can accumulate points for rewards. The account does not come with a passbook, and the cash card will be sent by registered mail within 7-10 days.

4. Japan Post Bank

With the most branches and ATMs in Japan, it is the most convenient bank for foreigners to open accounts.

Account opening requirements: Residence period of at least 3 months, accepting international students. Account opening via the Yucho Tetsuzuki App, with the fastest review result within 1 week.

• Tsujou Chokin (ordinary savings account): Comes with a Cash Card, meeting needs such as daily salary collection, automatic bill payment, and ATM deposits/withdrawals;
• Tsujou Chochiku Chokin (high-interest current account): Balances of over 100,000 yen can enjoy higher interest rates, with funds accessible at any time.

Summary

It is completely feasible for foreigners to open a bank account in Japan. Simply prepare core documents such as Zairyu Card, proof of address, and a Japanese phone number in advance, and choose a suitable bank based on the length of stay. For international students, SBI Shinsei Bank and Japan Post Bank are more friendly; for full-time workers, GMO Aozora Net Bank offers convenient online services; for those preferring traditional banks, Mitsubishi UFJ Bank is a good option. Comparing the conditions and fees of different banks before opening an account can make handling financial affairs in Japan smoother.