Opening an Account with JP Bank for Foreign Residents
Are you an international resident of Japan? If so, having a reliable bank account is a high priority. Payments for utility bills and direct deposit of paychecks are made entirely through your bank account in Japan.
A subsidiary of Japan Post Holdings (Japan Post), JP Bank handles postal deposits and banking services. As a result, JP Bank is often attached to post offices nationwide with as many as 234 locations. It is a practical, convenient choice for many.
In this article, we explain how to open an account with Japan Post Bank (JP Bank).
Opening a Japan Post Account and Application Process
Now, we’ll explain the process of opening a JP Bank account.
1. Find a JP Bank Location
Each post office won’t necessarily have a JP Bank teller window, so double-check for your nearest bank and business hours on JP Bank’s official website (Japanese). Most post offices are open until 17:00, so business hours for JP Bank usually end at 16:00.
Once at the teller window, tell the bank personnel, “Koza o tsukuritai” (I’d like to open a bank account.").
2. Required Items: Passport, Residence Card, and Personal Seal
When opening a bank account, you must bring your passport, your residence card, and a personal seal (engraved with your surname) if you have one.
The bank teller will then hand you an application form to fill in with your full name, address, and other necessary information. The next section will introduce application terms in Japanese and English side-by-side, so please refer to those tables.
JP Bank’s official website allows you to fill in an application ahead of time with step-by-step instructions in English, Vietnamese, Chinese, Korean, and other languages.
Filling in the Application
The application form is similar to the photo above. The Japanese terms—alongside its English counterpart—are listed below.
The types of bank cards and features are listed below.
A checking account refers to a typical bank account that allows you to deposit and withdraw money. A savings account yields an interest rate that is more profitable than a typical savings account when the balance is over 100,000 yen.
The volunteer field gives you the option to select any international cooperation or environmental group to donate part of your interest. If you're not interested, please check "do not apply" (申し込まない).
JP Bank applies an "auto-swing" concept to savings balances that are over the set amount and makes the balance interest-free. You can set up a maximum deposit of 13 million yen. If you prefer not to set a limit to your account, then write 0.
This system was established not just for the account owner, but to encourage fair competition between JP Bank and other banks. Although JP Bank is now privatized, it was formerly managed by the government.
Therefore, JP Bank is believed to have higher credibility in comparison to other financial institutions.
Bankbook and ATM Card
Once you've finished opening an account with JP Bank, you'll receive a bankbook at the window. Those who selected "bankbook and card" in the cash service method field can deposit and withdraw money with this bankbook.
An ATM card will be delivered to your address in about one to two weeks. It is not left in your mailbox but rather delivered by hand, so you have to be home to receive it. If you're not at home when the card is delivered, an attempted delivery notice should appear in your mailbox.
Follow the instructions on the delivery notice to enter your desired time for redelivery. A postal worker will attempt redelivery within the specified timeframe.
Open a Japanese Bank Account
Depending on your JP Bank location, you can ask for an application form to fill out at home and apply at a later date. If you're planning to reside in Japan but don't feel confident in your Japanese language skill, download this article on your phone for future reference. There isn't much to worry about as many non-Japanese residents have successfully opened bank accounts with JP Bank!
