Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.
Opening a bank account in Japan
Though international banks such as Citibank and HSBC do business in Japan, most Japanese people use domestic banks like Bank of Tokyo-Mitsubishi and Mizuho Bank. Savings accounts can also be opened at most post offices through a branch of the Japanese postal service, Japan Post Bank.
Cash, cards, and ATMs
In spite of its technology-driven economy, Japan is still very much a cash-based society. Though credit cards are increasingly popular, foreigners should not expect to have much luck with them outside of major cities.
How to transfer money in Japan or abroad
Transferring money in Japan is considerably more convenient than withdrawing it. There are several options for money transfers between Japanese bank accounts and to bank accounts abroad.
Income, residence and other taxes
The Japanese word for taxes is zeikin. The Japanese tax system is composed of national and local taxes. Income, sales, and property are all taxed in Japan.
Investments in Japan
In 1996, Japan´s banking and investment industries were both de-regulated. Foreign banks and investors became more active than ever before in the Japanese market, investing capital into the market that helped Japan begin to recover from its ´Lost Decade´ of recession.