In Japan, in order to strictly manage the tax payment of the residents, the salary of employees (both part-time and full-time) will be transferred via bank account. Therefore, when working and living in Japan, opening a bank account is extremely necessary for foreigners. Do you know what documents are required to open a bank account in Japan?

Types of bank accounts in Japan:

In Japan, there are currently two types of bank accounts, namely: Savings Account (普通預金 – Futsū yokin) and Checking Account (当座預金- Tōza yokin). Because there are 2 different types of accounts, be careful when filling out documents to avoid unnecessary errors.

Savings Account:

In Japan, this is the most common and used type. When opening an account, people often choose to open a Savings (普通預金).

This account type has the following advantages:

Allow users to withdraw, deposit, pay and transfer freely (depending on users).
The banks will pay a regular interest on the depositor’s savings account balances, but the rate is extremely low.

With the above two advantages, this type is mainly used for final settlement and bill payment. After opening a Savings account, holders will be issued with an ATM card so that they can withdraw or deposit money at ATMs. For this type, the deposit limit can be up to 10 million yen. In a single day, users can withdraw up to 1 million yen.

Checking account:

This is a type of specialized account used by businesses or private business owners for the purpose of paying business bills, it includes the following features:

Checking account does not earn interest
Card holders cannot withdraw or deposit money at ATMs

With such two specific features, this type of account is not used much by workers and officials.

It is necessary to clearly distinguish account types to avoid confusion

Documents for opening a bank account:
Necessary documents:

• Residence card
• Passport 
• Phone number
• Personal seal
• Proof of address in Japan

In addition to the listed documents, there are many cases that also require a copy of the Residence certificate (住民票 – Jūmin-hyō), My number card, Insurance card and Employee card. If you open a bank account yourself, please confirm carefully the documents that need to be prepared on the homepage of the bank.

Notes about your personal seal:

When opening a bank account, many banks will require you to have a personal seal.
In addition, when paying fees through a bank account, a seal is also required.
Keep your seal carefully because losing it will be quite troublesome in the future.

Administrative procedures in Japan often require a seal instead of a signature like in other countries, so you should make yourself one and keep it carefully to use when needed.

Hopefully, the above article has provided you with the necessary basic information about opening a bank account in Japan for foreigners.