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Opening a Japanese bank account
Last Post 01-14-2012 6:40 AM by Shannon W.. 18 Replies.
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Shannon W.
Shannon W.

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01-12-2012 1:45 PM
    What documentation is needed for a SOFA sponsored dependent to open a Japanese Bank Account?

    I live on Yokosuka in base housing and will probably just go to Bank of Yokohama on Blue St. since I know where it is at.
     

    ~Amy~
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    01-12-2012 2:56 PM
    Passport (w/ sofa stamp).

    Shannon W.
    Shannon W.

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    01-12-2012 3:13 PM
    Well that is easier than I thought Thanks!

    ThaiGuy
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    01-12-2012 3:27 PM
    haha yeah, after you get back from the bank let us know how easy it was o_O

    amauldin
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    01-12-2012 4:07 PM
    When I got an account this summer with the Bank of Yokohama on Blue Street, I also needed a hanko stamp for my name on the paperwork. They wouldn't take a written signature, only a hanko stamp. So I had to find a place that made them in about 2 hours. The place across from the Womble gate made it for me. Needed to have my name written in Japanese characters, too, for the stamp maker.

    Helped that I had a Japanese friend with me to do all the translating.

    ThaiGuy
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    That's pretty funny since a Hanko stamp for gaijin is not a legal signature, at least as I understand it. Anyway, as I said before, "let us know how easy it was" when you're done. I'm placing odds the bank will ask for something else that none of us could have anticipated.

    ~Amy~
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    01-12-2012 4:54 PM
    Ah, well, the stamp thing is a new one on me. Could be Bank of Yokohama started requiring that to weed out folks who weren't serious.

    Thaiguy The blue street BoY gets quite a bit of business from the base, they know what to expect from base related folks.  I doubt they will make it that hard.  Now if you were going to try it  somewhere in Tokyo, yeah, they'd want to see a visa and probably proof of where you live and what not. 
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    01-12-2012 5:21 PM
    Just remember, if they don't seem to understand you, just speak louder. I was in the bank today and the lady in front of me was demonstrating how to bridge the cultural divide:

    1. If they can't understand you, speaking louder and slower will surely help.
    2. It helps them when you soundly pound the counter for emphasis.
    3. Make sure to keep direct eye contact at all costs. Remember, you are the boss!
    4. When all else fails, insulting their country or "backwards culture" will help you convince them.
    5. Storm out when your business is done. Profanity upon your exit will help them remember you!
    6. Yell at your 5 year old child for not keeping up.

    These tips will go a long way in establishing yourself at the bank! Enjoy your time in Japan!~

    Shannon W.
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    01-12-2012 7:52 PM
    ^lol, I will keep these in mind if I don't get anywhere.

    Thank you for the tip on the stamp. I will see if I can find that guy first. I am not really expecting to have an account open tomorrow but I will at least try. I have a month to have a Japanese account open for direct deposit and think if I start now I just might be able to accomplish it, even if it means taking a few trips I will update how it goes.

    Donna1
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    01-12-2012 8:02 PM
    Yes, you will need a hanko and also a letter from housing that shows your Japanese address. Even that wasn't enough when I opened my account at the Bank of Yokohama about a year ago. The Japanese don't consider us to have a Japanese address if we live on base. They speak limited English there so I called a Japanese friend and she set things straight - otherwise I don't think I would have gotten it. I would recommend that you take a Japanese speaker along with you.

    Adam Jones
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    01-12-2012 8:20 PM
    About 10 years ago, a friend of mine had a Bank of Yokohoma account. I remember having to go with him, and he had to get a stamp to get his account opened. So its not something new that they just changed. Its been like this for as long as I have been in Japan.

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    GM1sHoney
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    01-12-2012 10:08 PM
    bawahahahaha!!! Wambulance. you turned a crappy night good!!!! #2 is my fav!!!!

    FavoritePrincess
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    01-13-2012 1:46 AM
    Here's what you need to open a bank acct. I used Bank of Yokohama on Blue Street.

    First you need a "hanko"- a hand stamp of your name in kanji. It is your legal signature in Japan. To get that go right outside the Womble gate across 16 to Stamp One- it is painted on the bldg. Tell them you need a hanko and write out your last name for them. It is ready by the next day. That costs about 20 some odd yen (cash).

    Now you're ready for the bank. Make sure you have 2 forms of photo id (mil id and passport are fine) and 1000 yen cash. Also, the Japanese version of your FPO address. Ask at the base post office if you don't already know it. That's about it!

    You go in to the lobby area on the first floor and they'll give you forms to fill out and a number. When your number comes up on the digital screen you'll be in business. It took about an hour or so to get through the whole thing with the waiting and language barrier. The guy who helped me didn't speak english but we muddled through. You'll leave with an account and a bank book- the atm card will come in the mail.
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    01-13-2012 10:31 AM
    I opened my account this summer and Favorite Princess has the most accurate list of items. You will also need your social security card. It is no longer on our dependent IDs. I asked why since they are not a US bank and it is a US number, but they said they needed it for reporting.

    NichiBeiOne
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    01-13-2012 10:53 AM
    I had a custom hanko made when I lived on the economy and used it frequently. Indeed, it was used as a substitute for a signature. I rented an apartment, leased a car, opened bank accounts, etc. My recollection is that an "inkan shomeisho" was required for the larger transactions. Those could be purchased at city offices and verified that your hanko was registered. I suppose their analog in the US would be notary publics.

    GM1sHoney
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    01-13-2012 11:26 AM
    Are there any incentives with having a Japanese account or is it more of a convience thing?

    ThaiGuy
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    01-13-2012 11:28 AM
    I pay my utilities through my bank account. So all I do is add cash once a month, and utilities are automatically paid with no fee required.
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    01-13-2012 6:53 PM
    If you have children going to school in town, you need a bank account for some (but not all) of the Japanese preschools. Also, if you plan on doing any modeling or teaching English in town, you can have the money direct deposited. For transferring large sums of money, you get a better exchange rate if you do an electronic transfer from Navy Federal to Bank of Yokohama. The exchange rate is better than for cash or travelers' checks and you don't pay the 1% fee to get the checks, just a one time transfer fee.

    Shannon W.
    Shannon W.

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    01-14-2012 6:40 AM
    Well, I never made it yesterday. I was in a bad mood and figured I would need a smile and patience to deal with the bank. Favourite Princess, thank you for the detailed description!

    GM1sHoney, we have opened bank accounts in every foreign country we have lived in to get better exchange rates. I also need this one open because my kids' modeling agencies only pay in yen and they either transfer the money electronically or I would have to go to Tokyo and pick up the cheque in person.
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