Problems on opening a bank account

2023.08.18

A lot of foreign people who stay in Japan longer need bank accounts. You have to prepare many things to open a bank account, and the explanation may be difficult.

I will share the kind of problems the foreign people had and the way they solved the problem when they opened a bank account.

Problems on opening a bank account in Japan

1. I do not have a name stamp (Inkan)

2. I do not have a Japanese phone number

3. Cash card and credit card or debit card are combined and I do not understand the system.

4. I am worried whether I can understand the explanation in Japanese

When I asked foreigners about the problem on opening a bank account in Japan, I got the above answer. Let’s see how they solved the problems.

How to solve the problems

1. I do not have a name stamp (Inkan) →　Order it or open a bank account at a bank which does not need a name stamp

Those who just came to Japan may not have a name stamp. You can order your name stamp at the hanko shop (hanko is the same as Inkan and name stamp) or online. Name stamps can be made in katakana or English. Also, a name stamp used to be necessary to open a bank account, but some banks do not need a name stamp to open a bank account these days.

2. I do not have a Japanese phone number → Get a Japanese phone number by buying a prepaid SIM card

You may not have a Japanese phone number if you just came to Japan. In this case, you can get a Japanese phone number by buying a prepaid SIM card. SIM cards, which a phone company sells, often need a credit card or a bank account, but prepaid SIM cards do not need them. Prepaid SIM cards are sold at convenience stores and appliance and electronics stores. Prepaid SIM cards are more expensive than postpaid SIM cards. Thus, after you open a bank account, let’s buy postpaid SIM cards!

Please read these articles on SIM card.

How to buy a SIM card https://social-b.net/baiyu/en/simcard20221119en/

3.Cash card and credit or debit card are together and I don’t know how they work. →Please read the explanation below.

Three types of cards are associated with bank accounts: cash cards, credit cards, and debit cards. However, some banks may have a cash card and a credit card together or a cash card and a debit card together. You can use those cards at an ATM as a cash card, or when you pay as a credit or debit card.

How to use

The direction of insertion is different when using it as a cash card and as a credit card or a debit card. Arrows and the card type (cash card, credit card, etc.) are written in the card’s upper left and lower right corners. When using the card, please insert the direction of arrows which are written on the card name you want to use.

Issuance fee and annual fee

Debit cards that are combined with cash cards often have no issuance fee or annual fee, but some banks may charge a fee, so please check it. Also, even though the first year’s annual fee is free, it may be charged from the second year. Therefore, please check the annual fee system not only for the first year but also for the second year and beyond. Moreover, credit cards that are combined with cash cards are usually charged annual fee as well as other credit cards.

4. I am worried whether I can understand the explanation in Japanese → Open a bank account online by using the translation function

You can open a bank account online. If you are worried about whether you can understand the explanation of the Japanese, opening it online while using the translation function is recommended. However, it takes time to confirm personal information, and you may not ask questions to bank staff immediately. Consider the advantages and disadvantages and choose whether to open in-store or online!

Others

I did not know that I had to make an appointment to open a bank account

Banks are usually crowded, and opening a bank account especially takes time. Many banks recommend customers make an appointment online before they visit a bank. If you do not have an appointment, you may be refused to open a bank account on that day or wait a long time. After deciding which bank account you open, visit its website and check whether an appointment is necessary.

You may have various problems with opening a bank account, but let’s solve them one by one.

Please also check the following websites.

Problems on getting a driver’s license in Japan

https://social-b.net/baiyu/en/driveproblem20230211en/