Bank Advice Needed

[Ptyx]

My new company cannot make money transfer to my bank (citibank) so they asked me if i could open an account in another shop.
So fellow fgs is there a bank you'd recommend ?

The japanese post office is out of the question too by the way.

My company recommends that i go to Yachiyo, cause it's their bank. The thing is Yachiyo has no english support whatsoever. I can speak japanese decently but when money is concerned i like to have a english safety net that i can fall into in case of problems.

[GuyJean]

I use Mitsui Sumitomo.. No complaints.. I liked them because they didn't require a hanko to open an account..

I'd recommend choosing one close to your home and work..

GJ

[Captain Japan]

Shinsei is great for me. No minimum balance. Free ATM use at quite a few non-Shinsei ATMs, a few free domestic furikomis each month. Their Web page is all in English. And the online banking is in English.

Citibank gave me nothing but grief.

[Greji]

My new company cannot make money transfer to my bank (citibank) so they asked me if i could open an account in another shop.
So fellow fgs is there a bank you'd recommend ?

That sounds a bit strange. I realize shitty bank is not that popular, but it is certainly not a bank one would think is capable of being disregarded by the Japanese banking system. Are you sure your company is not just trying to have all employees use their bank? There are, or at least were, companies that insisted that if you had your pay bank transfered, it was to an account in their bank.

This initially started when they began changing over from the good ole kyuryoubukuro to bank transfers for pay. Apparently, they got a better rate from the company bank if it was an internal transfer. However, I thought most of this had more or less disappeared nowadays!

I use Resona and they are very nice to me. I suppose this is because I have several loans from them and they don't want me to skip out on them.

[ichigo partygirl]

That sounds a bit strange. I realize shitty bank is not that popular, but it is certainly not a bank one would think is capable of being disregarded by the Japanese banking system. Are you sure your company is not just trying to have all employees use their bank? There are, or at least were, companies that insisted that if you had your pay bank transfered, it was to an account in their bank.

This initially started when they began changing over from the good ole kyuryoubukuro to bank transfers for pay. Apparently, they got a better rate from the company bank if it was an internal transfer. However, I thought most of this had more or less disappeared nowadays!

I use Resona and they are very nice to me. I suppose this is because I have several loans from them and they don't want me to skip out on them.

Do you have anywhere to skip off to ? :P

[GomiGirl]

That sounds a bit strange. I realize shitty bank is not that popular, but it is certainly not a bank one would think is capable of being disregarded by the Japanese banking system. Are you sure your company is not just trying to have all employees use their bank? There are, or at least were, companies that insisted that if you had your pay bank transfered, it was to an account in their bank.

I have heard that it is harder to send money to citibank as well mainly because it doesn't use the standard Japanese systems - don't ask me what they are - but my accountant has said the same thing. It might be because the transfers are handled like international banks rather than the "special we-japanese" systems.

Shinsei is a good mix of both though but you do need some japanese to do an on-line bank transfer even though it is mostly in English.

[Greji]

Do you have anywhere to skip off to ? :P

To Mount Monganui where the elite meet!

[ichigo partygirl]

To Mount Monganui where the elite meet!

well that explains alot....
I hope you had an STD check after your last visit

[Greji]

well that explains alot....
I hope you had an STD check after your last visit

Hey wait a minute! I thought that's where you lived. IPG, is there something you're not telling me here?

[ichigo partygirl]

Not even the right island...
There are alot of things im not telling you~!

[IkemenTommy]

Shinsei is great for me. No minimum balance. Free ATM use at quite a few non-Shinsei ATMs, a few free domestic furikomis each month. Their Web page is all in English. And the online banking is in English.

Citibank gave me nothing but grief.

Werd.
I used to have Tokyo Mitsubishi UFJ as my primary account but they charge you for every little thing so I finally had it with them and switched to Shinsei. They are more customer friendly than Mitsubishi and you can withdraw money from conbini without getting slapped with the ATM surcharge. The online banking is quite reasonable as well.

Though, at times they can be a pain in the ass when other ATMs refuse to take their card during the non-business hours. That has happened to me a few times.

Citibank here is not the same as the Citibank at home (U.S. I assume..). They charge you fees for depositing, withdrawing, etc for all non Japanese Shitibank cards. They are reducing their ATMs and bank corners as they are withdrawing their presence from Japan.

[CrankyBastard]

I hate those damn machines. I've been banking here since the 1960's.
Used to be you could go up to the counter, tell the little cutie in the fancy uniform what you wanted and she'd do the rest and call you by name when it was all ready and done, meanwhile, you would have checked out the other customers, passed pleasantries, read a comic, watched the t.v. or just picked your nose while waiting.
now you have to do it all yourself, using those infukenfernal machines.
First time I used one, I got it all fucked up.
I put in my card and the stupid little bank book, but before I'd figured out the kanji for the next move, the damn machine started that beeb beeb beep and spat my card back out.
Second time.....same thing. On my next attempt I kept my hand over the slot that spits the card out........sure enough beep, beep, beep, but this time followed by a siren as well. Then a guy in a fake coppers uniform came over with one of the bank workers, I explained the problem, and was taken to the counter where I was allowed to get it all done by a cutie in a uniform.
Now, whenever I go to the bank, the old semi redundant guy in a necktie always escorts me to the counter and introduces me to the cutie on duty and I get my banking done the way it should be.
Oh I almost forgot, Yokohama Ginko.

[Ptyx]

I went to the site for Shinsei and was really impressed. They really want that gaijin money and they're gonna get it. I'm going to open an account there.
Thanks for the advice Captain.

Concerning the citibank stuff i guess GG is right. They told me the only two banks they couldn't (or wouldn't) make transfer to were citibank and the japanese post office.

[sublight]

I use Mitsui Sumitomo.. No complaints.. I liked them because they didn't require a hanko to open an account..

I'd recommend choosing one close to your home and work..

GJ

I went with Mitsui Sumitomo since they have 24-hour ATMs in all the am/pm shops. This was after I got stuck at 1am with a 10,000-yen bar tab and a Citibank card that no ATM in the area would accept. I still have my account with Shitty, but it's mainly out of inertia.

[yellowlightman]

I've been here for about 6 months using my US bank account, but I figure it's probably about time I get a Japanese bank account, especially since I'm currently job hunting.

My friend recommended Shinsei Bank because of their english and online banking services, but I was wondering if anyone on here has any any opinions on them? Or other banks for that matter.

I can probably get by using Japanese if I need to, so I don't necessarily need to limit myself to english-friendly banks, but the english help would be nice.

Just need a bank account for paychecks and simple stuff like that.

Thanks

[TFG]

I use Mitsubishi UFJ as I like their online banking system with which you cna check your account online and make transfers with easily.

[gkanai]

Another vote for Shinsei from me.

I hate Mitsui Sumitomo after they declined my request for a credit card when I had a significant balance with them. After they declined my card request, I opened my Shinsei account, moved all my money except 500 yen, and have never looked back.

[FG Lurker]

Just need a bank account for paychecks and simple stuff like that.

Many (larger) companies will get you to open an account at whichever bank they use and will deposit your monthly pay into this account.

If you can choose though I would also suggest Shinsei. They have the best English online banking system I have seen in Japan and overall their service charges (furikomi costs etc) are low compared to the major Japanese banks.

[Ol Dirty Gaijin]

Don't even think about Mizuho. Freakin nightmare and change their online stuff every couple of months to something more cryptic requiring an extra 20 clicks and multiple checkboxes and crap. Pulled my housing loan from them and went to Shinsei. Couldn't be happier.

[Buraku]

I'm getting worried about Sumitomo Mitsui they say the Corp will be buying into this Goldman baillout bullshit

[wuchan]

I'm getting worried about Sumitomo Mitsui they say the Corp will be buying into this Goldman baillout bullshit

If warren is willing to dump 5 billion into goldman it cant be that bad of an investment.




I use mitsubishi/UFJ. They have branches back in the US, it makes things way easier when I want to transfer money. I hear that Shinsei is good. Avoid mitsui like the plague.

Then again, the internet is not the best place to ask for financial advise. Do your own research and ask people that you trust. There are a number of foreign banks operating here in japan, maybe one of them will beat suit your needs. The only person who knows for sure is you.

[GuyJean]

.. Avoid mitsui like the plague.

Why?

Shinsei looks to be the best, but why is Mitsui 'the plague'?

GJ

[Buraku]

If warren is willing to dump 5 billion into goldman it cant be that bad of an investment.

yes it can, it can still drop more but personally I think Warren might have bought it near the right time to get a good percent of the Lion's share. The Fed is the King of the Jungle now, its creating almost unlimited bailouts for King George and buying up the finances and it will own 50% of everything like a mirror of some big socialist state. Goldman is said to have a trillion in assets but its buried deep in corruption with reports over the past years and reports of insider trading. Politics is in play here and some companies are sent to experience a train wreck while others are given charitable treatments. Remember at one time other companies like Lehman were also huge had something like 900 billion or almost a Trillion assets stuck in there, snatching it up also for 5 Billion might have been the correct time for a chess player like Warren or you sit on the sideline and watch a total collapse or the Fed would get to feast for free. Warren may know his Goldman can still drop even more, Goldman's 2007 figures were very fancy but in 2008 we watched Goldman Sachs drop 70%. At this moment some of the companies out there are on a losing streak of 7 billion, with numbers like this that's one hell of a figure in the red but even in bad times Warren can still play culture vulture and loot it for the bricks and bones

[Mulboyne]

Since this discussion is about opening an account then it is irrelevant whether it is a good time to buy the shares of a bank. Unless you are worried about the Japanese government going bankrupt then the only concern is what protection you have under the deposit insurance scheme in the event of a bank collapse. In essence, you get 10 million yen coverage per depositor per institution.

[pheyton]

My wife uses Japannet bank and another net bank. Absolutely now problems, but I wonder how secure they are?

[Caustic Saint]

I have 3 accounts here. The post office one I opened for my first account after I got here (English ATMs were the key factor then), a Shinsei account I opened to have better access to ATMs (the postal ones in Asakusa had crappy service hours, and Shinsei gives you free 24h transactions at all 7-Elevens) and finally a Bank of Yokohama one I had to get for the job I got last year.

I use BoY for getting paid and paying rent. After I get paid I take out everything but the rent money and put the bulk of it in Shinsei, which is my primary account now. The postal one is there for savings and paying internet and SoftBank. (Well, it'd be for SB if they hadn't screwed up their own system and started sending me conbini bills.)

[IkemenTommy]

They have the best English online banking system I have seen in Japan and overall their service charges (furikomi costs etc) are low compared to the major Japanese banks.

This should not really be a factor into deciding whether for or against Shinsei, because I am personally satisfied with their overall service as a whole compared to my experiences I had with other banks I hope they go down with the financial meltdown(i.e. MUfuckinJ)... but does anyone else find the new cryptography security card key needed to use to access the site obnoxiously annoying?

I can see that they had to work around some serious security issues in the past but I mean, come on! You had already asked me for my account number, the 4 digit password, AND the unique account password (which must include both upper and lower case letters and numbers) but nooooo... that's not enough. I have to then go navigate through a series of "OK, I accept" popups just to land myself into playing this silly Battleship grid game using my unique one-of-a-kind crypto card..

What are they going to ask from me next? My semen samples to just check out my account balance on online? Maybe I will start hiding my savings under my bed mattress then.

[IkemenTommy]

I have 3 accounts here. The post office one I opened for my first account after I got here (English ATMs were the key factor then), a Shinsei account I opened to have better access to ATMs (the postal ones in Asakusa had crappy service hours, and Shinsei gives you free 24h transactions at all 7-Elevens) and finally a Bank of Yokohama one I had to get for the job I got last year.

I use BoY for getting paid and paying rent. After I get paid I take out everything but the rent money and put the bulk of it in Shinsei, which is my primary account now. The postal one is there for savings and paying internet and SoftBank. (Well, it'd be for SB if they hadn't screwed up their own system and started sending me conbini bills.)

Supposedly, Shinsei won't charge you for using other bank ATMs. The other nazi banks might charge you initially, but I believe Shinsei would reimburse you afterwards. Actually, I need to check on that but I was pretty sure that was the case and one of the major deciding factors when I first signed up with Shinsei.

Some conbinis, I think it must have been Lawsons or Daily Yamazaki, won't allow late night cash withdrawals and transactions with a Shinsei card. I am guessing for Lawsons, it has to do with them being part of the mighty Mitsubishi empire and only giving first priority service to its own MUFuckinJ customers. This has gotten me into a shitbag a few times at places like Roppongi when you were desperately down in cash and needed the money for the cab ride home or whatever. You can see where one of my heavy criticisms on MUFuckinJ comes from.

Luckily, 7-11 is always open nearby somewhere unless Shinsei is having a total system downtime all night. Then you're fucked

[GomiGirl]

I have MUFJ and lately I have noticed that on weekends it is often not possible to get any money out of a non-MUFJ atm. That is - you have to truck all the way into a centre like Shinjuku rather than to access the combini ATMs or another bank.

I really don't mind about the fees, the convenience is worth the couple of dollars.

[Cyka UchuuJin]

i don't suppose any banks in japan allow temporary visitors to open accounts, do they? my life here would be so much easier if i could open one for all the little stuff like the utilities and rent.