Best Banks in Japan for Expats: Sony Bank, Rakuten, Japan Post — Compared

Why Choosing the Right Bank Matters

A bank account in Japan is the foundation of daily life — it's where your salary lands, your rent is debited, and your utilities are auto-charged. It's also a prerequisite for many services like credit cards and phone contracts. The cost of choosing poorly adds up quickly:

• ATM withdrawal fees: ¥110–¥330 per withdrawal at non-partner ATMs — four or five withdrawals a month can cost ¥500–¥1,600
• International transfer fees: traditional banks charge ¥2,500–¥7,000 per wire, plus a 0.05% handling charge, plus an exchange-rate margin — sending ¥100,000 home can cost ¥5,000–¥9,000 in total
• Currency conversion fees: using a foreign card in Japan can carry a 2–3% hidden spread on every transaction

Choosing the right combination of accounts can save you ¥10,000–¥20,000 per year in fees alone.

Quick Comparison Table

Bank-by-Bank Breakdown

1. Japan Post Bank (ゆうちょ銀行) — Best Main Account

The most foreigner-friendly bank for opening a first account. Available at post offices nationwide, no appointment needed, and the most accepting of foreigners who have been in Japan less than 6 months.

Advantages:

• Around 31,000 ゆうちょATMs at roughly 24,000 post offices — the widest network in the country
• No fees at any ゆうちょATM for account holders
• Passbook (通帳) issued on the spot; tangible record of transactions
• Automatic debit (口座振替) for utilities, NHK, etc.

Disadvantages:

• App is Japanese-only
• The counter international remittance service closed in August 2025; sending abroad now runs through the web-only 「ゆうちょの国際送金」 service, at a flat fee plus the bank's exchange rate
• No bundled credit card (JP Bank Card must be applied for separately)

Documents required: Residence Card, passport, registered address

Recommendation: ⭐⭐⭐⭐⭐ (top choice for primary account)

2. Sony Bank — Best for Transfers and Foreign Currency

Sony Bank's Wallet debit card is a favorite among expats in Japan, especially for those who send money home or spend in foreign currencies.

Key highlights:

• Withdraw free at any partner ATM — Seven Bank, ゆうちょATM, Lawson Bank, AEON Bank and others — up to 4 times a month; deposits are always free, and each withdrawal after the fourth is ¥110. Club S members get Silver 7, Gold 15 and Platinum unlimited
• The WALLET Visa debit card uses the bank's own exchange rate with no overseas transaction fee on the ten currencies you hold in your FX account (USD, EUR, GBP, AUD, NZD, CAD, CHF, HKD, ZAR, SEK); other currencies carry about 1.79%
• English-language app and website
• Competitive international transfer fees compared with the megabanks

How to apply: Fully online; a Japanese residential address is required, and non-Japanese applicants need six months or more of residency in Japan — this is the one requirement that stops most new arrivals.

Watch out for: A Japanese phone number is required for verification codes, and if you open the FX account the debit card's terms differ from the plain yen account.

Recommendation: ⭐⭐⭐⭐⭐ (top choice for transfers and foreign-currency spending)

3. Rakuten Bank (楽天銀行) — Best Online Bank

Japan's largest internet-only bank — no physical branches, but the most comprehensive suite of digital financial services.

Advantages:

• English app interface (easy to switch)
• Deep integration with Rakuten Ichiba and Rakuten Card — high shopping cashback
• Free ATM withdrawals at partner networks (Seven Bank, AEON Bank, ゆうちょ, Mizuho, Lawson Bank and others) — the number depends on your Happy Program stage: 7 a month at Super VIP, 5 at VIP, 2 at Premium, 1 at Advanced, none at Basic, with 3 a month free for your first two months after opening
• Beyond the free count, withdrawals cost ¥220 at most partner ATMs and ¥275 at Lawson and E-net machines
• Ordinary savings interest rises sharply if you link a Rakuten Securities account (Money Bridge)

How to apply: Fully online; Japanese address required. Upload photos of Residence Card and passport. Review takes 7–14 business days.

Best for: Those who value app convenience, already use Rakuten services, or prefer an English interface.

Recommendation: ⭐⭐⭐⭐ (good second account)

4. MUFG (三菱UFJ銀行) — Most Stable Traditional Bank

Japan's largest traditional bank — high international credibility, suitable for building a formal credit history in Japan.

Advantages:

• Dense nationwide branch and ATM network
• Sends SWIFT international wires — ¥2,500–¥3,000 online plus a 0.05% handling charge, or ¥7,000 over the counter
• Online banking service available
• Direct salary deposit with many large Japanese companies

Disadvantages:

• Stricter screening for foreign nationals; some branches may require Japanese language ability
• Higher ATM fees at non-partner machines (¥110 on business-day daytime; ¥220 evenings and holidays)

Recommendation: ⭐⭐⭐ (consider when a salary transfer account is needed)

5. Docomo SMTB Net Bank (ドコモSMTBネット銀行) — Best for Power Users

Formerly 住信SBIネット銀行. NTT Docomo took control in late 2025 and the bank was renamed on 3 August 2026; the retail brand is now 「ドコモの銀行」, while NEOBANK lives on for partner-bank services. Your account number and services were unaffected by the change.

Advantages:

• Free withdrawals at Seven Bank and Lawson Bank ATMs — 2 a month at rank 1, then 5, 10 or 20 as your rank rises — and unlimited free withdrawals if you use the app-based ATM function instead of a cash card
• ¥110 per withdrawal once the free count runs out
• Foreign currency exchange rates better than the megabanks
• Visa debit card accepted worldwide

Disadvantages:

• Japanese-only interface
• Screening for foreign nationals is stricter than at Japan Post or Rakuten Bank

Recommendation: ⭐⭐⭐ (best for long-term residents)

Recommended Account Combinations

Short-term Stay (Working Holiday, under 1 year)

Primary account: Japan Post Bank (ゆうちょ銀行)

• Day-to-day transactions, salary deposits, rent and utility auto-debits

Secondary account: Sony Bank or Rakuten Bank

• Transfers back home, foreign-currency spending, backup ATM access

Long-term Residency (Work Visa, 1 year+)

Primary account: MUFG or Mizuho Bank

• Build a credit history; useful for future credit card and apartment lease applications

Secondary account: Sony Bank, Rakuten Bank or Docomo SMTB Net Bank

• Cut transfer costs; optimize foreign-currency spending and ATM access

Frequently Asked Questions

Can I open an account as soon as I arrive? After completing your address registration (転入届) at the ward office and getting your Residence Card address noted (usually done at the ward office), you can head to Japan Post Bank immediately — no waiting period is required.

Do I need a personal seal (印鑑)? Most banks now accept a signature (サイン) instead of a seal. That said, picking up an inexpensive seal at a ¥100 store is good insurance.

How do I access money before my salary arrives? Bring ¥30,000–¥50,000 in Japanese yen cash, or use your home-country Visa/Mastercard at a 7-Eleven ATM. See Using Foreign ATM Cards in Japan for details.