Friday, 15 January 2016

Shinsei Bank: The most foreigner friendly bank

So before I came to Japan, I did a little research on bank accounts and sending money from my account at home to the one I would make in Japan. However, this seemed to be a problem as many of the banks (Mitsui, Japan Post Bank) appeared to only allow international transfers after the account had been open for at least 6 months.

Additionally, most of them require you to have an inkan to open an account. An inkan (also called a hanko) is a red seal which is used in place of your signature. This requires more time, money and effort and if you are already trying to settle into Japan and school/work life, it is just too much of a hassle to sort out.


Opening an account with Shinsei Bank required me to do nothing but waltz into a branch with my Resident card and 30 minutes of free time. It was so quick and simple to set up an account that I wasn't sure if I'd actually done it! It was only when I was handed a cash card with my name on it that I realised that the process was complete. It is by far the easiest and most uncomplicated bank to open an account with and unlike other banks, it allows international money transfers immediately.

However, Shinsei does have some conditions for you to open an account with them. Firstly, you must be at least 20 years old and also you must be staying in Japan for more than 6 months in order to open an account with Shinsei - the length of your visa will tell you whether you are eligible or not.


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