Job Discussion Forums

[Sheep-Goats]

Can this be done before you get a work visa? Any specific reccomendations or suggestions?

I'll arrive with a wad of Yen (fair exchange rates here in Thailand) and don't want to stuff it between the cracks in the tatami in my room for the few weeks I have scheduled for looking for work.

[Gordon]

Don't worry anout the cash. It won't be much more than many japanese walk around with. I doubt you could open up a bank account without a work visa. If it is a lot, then why not traveller's cheques?

[Sheep-Goats]

[Gordon]

[worldwidealive]

I knew a guy once who's brother came and lived with him on a tourist visa for 2 1/2 months. He used the Postal Savings Accounts as his "bank" - you can do this at any post office in Japan. He was able to do this without a work visa and only on the tourist visa given on arrival. I know nothing more than that, but it's worth checking into. This was just last year.

WWA

[JimDunlop2]

Don't see why you need a work visa... Usually an alien registration card and a hanko is sufficient.

It's definitely sufficient for Postal Savings... It's not a bank as such so their rules are different.

Also, Citibank I believe doesn't require much -- except a hanko and a minimum 30,000 continous balance in the account to keep it open.... at least that's what I was told....

In any event, having a work visa has nothing to do with your ability as far as I know, to get a bank account set up here.

[coraminta]

Just a question - Is a 'Hanko" the same thing as an "inkan" meaning those little square name stamps that have ones name written in teeny tiny Kanji on them??? If it is, where can I pick one up? I am currenly in Canada but I will be moving to Japan in June and I definatly need to open a bank account there. Do I need a name stamp or will a signiture do?

[bshabu]

Yes, but they are round or oval for personal use. They take about a week to make at any inkan shop.

[Sweetsee]

I once walked into a major bank in my west Tokyo neighborhood with a million yen in cash, only to be told that without a hanko I couldn't open an account. I crossed the street and using my signature I was able to open an account.

Good luck with traveler's cheques, too. I once waited outside while the entire staff of a bank was dumbfounded and took nearly 30 minutes to cash one.

Why bother. Keep your money in the bank where ever it is you are and draw from that account using one of the universal systems? I know Citibank can do that because I used to bank there. Beware of that minimum balance, though. While living in Thailand and allowing my account to fall below the minimum I was bummed when the couple of hundred dollars I did have was sucked up by their maintenance fees, not to mention, they cancelled my credit card because they couldn't collect the fee for that. What a drag that was when I had arrived at the car rental counter at LAX and ended up on a shuttle bus.

I believe it was Gordon who gave the excellent advice of sticking to big city banks and research hours and whether or not they have foreign exchange services.

Where abouts do you plan on staying here?


Good luck to you,
s

[Sheep-Goats]

[Mike L.]

Get an Shinsei account! They're the best.

http://www.shinseibank.com/english/

All withdrawls at any of their ATM's, inlcuding @bank in all 7-11's are free and of course you can use them 24 hours a day.

Withdrawls made at other Bank's ATMs, including the post office, are refunded into your account the next month.

You do not need a hanko.

They have a few branches in Tokyo I sue the shinjuku one. these places look more like offices of Merryl Lynch than a bank though.

They also have at least one brach in the biggest cites in japan. Osaka, Nagoya etc etc.

Shinsei is a reincarnation of The Industrial Bank Of Japan I believe brought back with government cash.

This is not unusual in semi communist Japna but what is unsual is that Shinsei is at least partially foreign owned and operates somewhat like a proper bank.

Some Japanese have been whining occaisionally about this so it's got be a good thing.

Interestingly enough those with brains have been shifting their savings here as Shinsei, with it's lcean books, is so careful in it's loaning of cash that they're making a tidy little proffit.

When I opened my account there were mostlyold people in there taking to sales rep about GIC's etc..


They're also a bit different too. There are no passbooks only bank cards.

The cards are linked to the "Plus" system an unlike most Japanese Bank cards can actually be used abroad.

They also have online banking in English I believe as they try, sort of, to court the gaijin market.

The only issue you might have is that most FT employers insist on you usuing their bank so you might get stuck with one of the crappy large Japanese banks where even afgter trillions of yen they still don't offer many services to their customers.

Even if that happens, I'm stuck with the abominable Mizuho for one job, just wait till pay day and take all you cash out and drop it in your Shinsei account. You can deposit at 7-11's too.

My goal in doing this is save my money on fees but also deprive Mizuho of as much cash as possible.

As for exchanging foreign currency and traveller's cheques I don't think Shinsei can do all things because of it's status as as smaller but growing bank.

But it doesn't really matter. What matters is that you go to a large Bank in Tokyo that's designated to handle these transactions. Otherwise you'll wait around forver in a local bank as they struggle with your transaction.

Tokyo Mistusbishi has some big branches in Tokyo that deal in yen traveller's cheques.

The post office can do currency exchange but of course only USD, WON, EURO's etc though this may have changed.

I'd change your Baht in Thailand.


Hope this helps!

[Sweetsee]

Gee, I think I want to get some of that, free 7-11 withdrawls?

I would follow what MikeL says. Regarding Cirrus, I would probably bite the bullet and keep my money in the bank rather than withdrawl all your cash, come here and hassle with getting some bank to take it for free.

You have accomadation in Tokyo sorted?

What kind of work are you after?

Banks...hmmm...I hate them. But I would go to the Citibank in Shinjuku. Remember that they have nothing to do with Citibank anywhere else, so just because you have a Citibank account doesn't mean diddle to them.

I say I would go there, I should say I did go there and it wasn't pleasant in the end but I was shopping for a bank just like you except I was off to Europe and in Asia. Wanted to put my money in a bank I could find all over. Turns out Citibank Japan is just that, though there is the Cirrus system which allows you to draw cash practically anywhere you can find an ATM. How much you have to pay in fees and what not, I don't know and can never be bothered to find out, bigger fish to fry. Figure if I have enough money to even have such questions than who cares!


How long have you been in the Kingdom and why are you bailing?


Warm regards,
s

[Mike L.]

Well just called Shinsei and used their online services for the first time. Really good service.

Billingual staff.

And you can do foreign currency transactions. So that would proably leave only the traveller's chequs out for the OP.

Sweetsee I agree with you about Citibank. They have to operate like a Jpaanese bank and thus have failed to really differentiate themselves from these banks.

Though their English service is quite good and I've always been pleased with they're credit cards.

I don't know if Shinsei can issue credit cards.

[Sweetsee]

Hi Mike,

I was psyched with the card they gave me here because I couldn't get one back home, until I blew it and told them I was not in Japan over the phone, after I had just paid them for a disputed charge where I was sure I had paid cash for a motel in Palm Desert, which charged the card, which I never used, due to the hassle of making a payment on the road or at least not in Japan. That and their cancellation of my card regarding a maintenance fee, blah, blah, blah...hate banks, especially here.

I have a student cc, given to me in L.A. $300 limit, seems my TRW status has expired. Saved my butt in France summer before last, big time. Also a royal hassle to get a payment to, though. Definite emergency only material.

Btw Mike, I thoroughly enjoyed that post, classic that one!


Enjoy yourself,
s

[Sheep-Goats]