Best Banks in Japan for Expats: Sony Bank, Rakuten, Japan Post — Compared
A comprehensive comparison of the top banks in Japan for expats — Japan Post Bank (ゆうちょ銀行), MUFG, Rakuten Bank, Sony Bank, and SBI Sumishin Net Bank. Covers account difficulty, ATM fees, international remittance costs, English-language support, and the best account combination strategy.
Table of Contents
- Why Choosing the Right Bank Matters
- Quick Comparison Table
- Bank-by-Bank Breakdown
- 1. Japan Post Bank (ゆうちょ銀行) — Best Main Account
- 2. Sony Bank — Best for Transfers and Foreign Currency
- 3. Rakuten Bank (楽天銀行) — Best Online Bank
- 4. MUFG (三菱UFJ銀行) — Most Stable Traditional Bank
- 5. SBI Sumishin Net Bank (住信SBIネット銀行 / NEOBANK) — Best for Power Users
- Recommended Account Combinations
- Short-term Stay (Working Holiday, under 1 year)
- Long-term Residency (Work Visa, 1 year+)
- Frequently Asked Questions
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 non-partner ATM transaction — four to five withdrawals a month can cost ¥500–¥1,600
- International transfer fees: Traditional banks charge ¥3,000–¥5,000 per wire, plus an unfavorable exchange rate — sending ¥100,000 home can cost you ¥5,000–¥8,000 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 | Foreign Account Difficulty | App Language | Free ATM | International Transfer | Online Application |
|---|---|---|---|---|---|
| Japan Post Bank (ゆうちょ銀行) | ⭐ Most foreigner-friendly | Japanese only | All Post ATMs free | In-branch only | ❌ |
| MUFG (三菱UFJ) | ★★☆ Moderate | None | Partner ATMs free | Available online | ❌ |
| Rakuten Bank (楽天銀行) | ★★☆ Moderate | English available | Partner ATMs | Available | ✅ |
| Sony Bank | ★★☆ Moderate | English available | All 7-Eleven ATMs free | Low-cost | ✅ |
| SBI Sumishin (住信SBI) | ★★★ More difficult | Japanese only | Monthly quota free | Low-cost | ✅ |
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:
- ~24,000 ATMs nationwide (including convenience store partnerships) — Japan's highest density
- No fees at any Post Office ATM, 24/7
- 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
- International transfers require an in-branch visit; fees start at ~¥2,500
- 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 for free at every 7-Eleven ATM (セブン銀行) nationwide (up to 7 times per month)
- Uses the mid-market exchange rate with no hidden markup — typically 1–2% cheaper than traditional banks
- English-language app and website
- Competitive international transfer fees (some routes are free)
How to apply: Fully online; a Japanese residential address is required. Review takes about 1 week; card delivered by post.
Watch out for: Some functions may be restricted if your residence period is under 1 year; a Japanese phone number is required for verification codes.
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 / セブン銀行, AEON Bank / イオン銀行, Japan Post Bank / ゆうちょ, etc.) — 3–7 times free per month depending on account tier
- International transfers available; fees ~¥750–¥1,500
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
- Accepts SWIFT international wires; strong for corporate payroll
- 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. SBI Sumishin Net Bank (住信SBIネット銀行 / NEOBANK) — Best for Power Users
The NEOBANK service offers an excellent fee structure for heavy digital users.
Advantages:
- Free withdrawals 5–20 times per month (depending on account tier), at no monthly cost
- Foreign currency exchange rates better than traditional banks
- Visa debit card accepted globally
Disadvantages:
- Japanese-only interface
- Stricter screening for foreign nationals; sometimes requires documented residence of 6+ months
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 or SBI Sumishin
- Cut transfer costs; optimize foreign-currency spending
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.