Q. Please tell me about
financial institutions.
A.Persons living in Japan with a period of stay of one year or more may open a bank account. Some companies nominate a specific financial institution for the remittance of salary, so please ask your employer where you should open your account. Confirm with the bank that there are places you can withdraw cash close to your home and office, and that you can remit money to your home country. In recent years, cashless payments tied to bank accounts have become more common than the use of cash. If necessary, create a credit card or register for smartphone app payments.
Opening an account
To open an account at a bank, you will need your residence card or, alternatively, your passport and documentation that confirms your address (juminhyo, etc.), as well as money to deposit into the new account and your hanko (personal seal) or signature. You can have a hanko made containing katakana or alphabetic characters on the Internet or at a hanko store. You will often use your hanko while living in Japan, so it might be convenient to have a spare.
Managing deposits
When you open your account, you will be issued with a passbook and cash card. You can use your cash card to make deposits, withdrawals and transfers and to check your balance at ATMs located in financial institutions and convenience stores, etc. You may also register for Internet banking which will allow you to check your balance and make transfers online.
Overseas remittance
If you want to remit money to your home country, you will need to complete the remittance procedures at a bank that handles overseas remittances. You will be charged a fee to send and receive overseas remittances.
Foreign currency exchange
You can exchange to and from Japanese yen at banks that handle foreign currency exchange transactions as well as currency exchange counters.
Reference：Tokyo Metropolitan Foundation "TSUNAGARI": Living Information
