Opening a personal bank account in Japan: student, employee, retiree

The futsu yokin ordinary account and its ATM card

The personal bank account in Japan of a resident individual is an ordinary yen account, the futsu yokin, used to receive a salary, pay rent and bills by direct debit and withdraw cash at convenience stores with an ATM card. Traditional banks add a paper passbook, the tsucho, while online banks replace it with an app and digital statements.

The basic product is the ordinary yen account, or futsu yokin, with a paper passbook (tsucho) at traditional banks and an ATM card. Online banks replace the passbook with an app and digital statements.

Receiving a Japanese salary by bank transfer into a personal account in Japan

Japanese employers pay salaries by transfer into an account in the employee’s name, often at a bank close to the workplace. HR departments frequently help newcomers open this account as soon as the residence card is issued.

Current account in Japan: Japan Post Bank, a common choice for foreign students

Universities often steer international students towards Japan Post Bank, available in post offices across the country. During the first six months, international transfers from such an account may remain blocked because of non-resident status.

Convenience-store ATMs and time-based fees

Cash is widely withdrawn at convenience-store ATMs, open late into the evening. Many banks charge fees that vary with the hour, the day and the number of free monthly withdrawals, which is worth comparing before choosing.

Debit card first, credit card later

A debit card is usually issued with the account, while a Japanese credit card remains hard to obtain without local history. Issuers look at the remaining length of stay, time with the employer and declared income.

Sending money to France with a My Number

For an outward transfer the bank asks for the My Number, because international transfers are reported to the Japanese tax authorities. Licensed specialist remittance services often charge lower exchange margins than banks.

Requirements for a personal account at MUFG Bank

For a foreign individual, MUFG Bank usually asks for the residence card, a Japanese phone number and details of the employer or school. When the residence permit has only a few months left, the account may be refused or postponed.

Savings and NISA accounts reserved for residents

Residents can open a NISA account, an investment wrapper exempt from Japanese tax that was reformed in 2024. A French tax resident remains taxable in France on its gains, so its real benefit should be weighed before investing savings.

Japanese pension and returning to France

A retiree who contributed to the Japanese system can ask for the pension to be paid to a foreign account. Before leaving, plan for any lump-sum refund of contributions and tell the bank, since the Japanese account becomes a non-resident account.

Dormant accounts and Form 3916 after departure

An account with no activity for ten years may be treated as a dormant deposit under Japanese law. If it stays open after returning to France, the holder reports it each year on Form 3916, and Japan also exchanges data under CRS.

Documents to open a personal bank account in Japan

To open a personal bank account in Japan, first prepare your residence card, passport, address in Japan and a Japanese phone number. Depending on the bank, your employer or school must also be stated. Requirements vary from one institution to another, and some branches ask for extra documents that only the bank can confirm for you.

The My Number is useful for many operations, particularly international transfers. Keep it with your identity documents and check that your address appears on the residence card, because an address that has not been updated often delays the opening of the account and the dispatch of the ATM card.

If you arrive with a visa that has little time left, find out before you go. When the residence status is valid for only a few months, opening can be postponed or refused. Ask your employer, university or estate agent which bank readily accepts newcomers in your situation.

Comparing banks for a current account in Japan

Three main options exist: a traditional bank with branches, an online bank and Japan Post Bank. Traditional banks offer a physical welcome and a passbook, online banks simplify management through an app, and Japan Post Bank benefits from a very wide network of post offices. The best choice depends on where you live and your habits.

Then compare withdrawal fees by hour and day, the number of free withdrawals, transfer fees and whether the app is available in a language you understand. A current account in Japan used mainly to receive a salary and pay rent does not have the same needs as one used to send money abroad regularly.

Also check the restrictions that apply to non-residents or newcomers. During the first months, some international transfers may be limited, and resident status determines access to several savings products. Put these questions to the bank before opening the account, rather than discovering them at the moment of a first large transfer.

Common mistakes with a personal account in Japan

A first mistake is to wait until the last moment. Between finding housing, registering your address and obtaining the residence card, opening the account often needs several successive steps. Start as soon as you arrive so that salary, rent and direct debits are not blocked for lack of a working account.

A second mistake concerns international transfers. Many expats assume they can send money freely as soon as the account opens, whereas temporary restrictions and the request for the My Number may apply. Also compare the exchange margins of banks and licensed transfer services before settling on your usual channel.

A third mistake appears when leaving the country. Leaving an account inactive without telling the bank can create fees, blockages or a dormant deposit status. Plan the closure or conversion of the account, and keep the statements that will be needed for your returns in your country of residence.

Managing your personal account in Japan, from salary to departure

Day to day, the ordinary account is used to receive a salary, pay rent and bills by direct debit and withdraw cash. Check your statements, withdrawal limits and debit dates regularly. An alert by app or email helps you spot an unusual transaction or a forgotten payment quickly.

For savings and investments, find out about schemes reserved for residents and how they are taxed in your country of tax residence. A Japanese tax advantage does not always have the same effect for a foreign resident, and prudence means asking for written confirmation or an adviser's opinion before placing your savings there.

Before leaving Japan, tell the bank, settle ongoing contracts and decide what happens to the account. The bank passes on tax information under the CRS standard, and a French resident declares accounts opened abroad. Keep a record of balances and statements to prepare these obligations calmly.

Start by choosing between a traditional bank, with its passbook and ATM card, and an online bank that works through an app. Expect a debit card first and a credit card later, so plan day-to-day payments around the ATM card and direct debits for rent and bills.

Keep the documents for the opening ready, compare banks before you apply, and think ahead about the Japanese pension and the account you will keep or close when you return to France. Listing your salary, rent and bill payments in advance shows the bank a clear everyday purpose for the account.