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stumptowny
Joined: 29 May 2011
Posts: 310
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 Posted: Sun May 13, 2012 3:50 pm Post subject: JP post banking limitations - checks, credit card/debit card |
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I am trying to ditch jp morgan chase as they hit me with monthly fees for not doing enough with my bank account back home (for which they would charge me fees as well). fed up with it.
Has anyone switched over to jp post banking for everything? and ditched their american bank account altogether?
does jp post bank have checks and a credit card /debit card for gaijins? can we get these?
I have a jp post account now but couldn't find anything online about checks or cards. I am new here but thinking they don't even have paper checks or checks that would work back home?
I pay for a wimax from bic camera and it is linked to my chase account back home. I want to get a japanese credit card/debit card (with jp post bank) to set up the auto withdrawals and NIX chase completely.
I wouldn't have a checking account back home then. a bit scary.
any ideas how I would pay off my credit cards back home without a US bank account? 25$ international transfers would be much more than the 10$ chase fees I am trying to avoid.. unless I maintain zero balance on my credit cards.. |
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Glenski
Joined: 15 Jan 2003
Posts: 12844
Location: Hokkaido, JAPAN
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G Cthulhu
Joined: 07 Feb 2003
Posts: 1373
Location: Way, way off course.
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| Posted: Mon May 14, 2012 12:38 am Post subject: |
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| Why on earth do people in the US use any retail bank in the US?! They *all* suck. US retail banking is at least ~15 years behind the rest of the world. Use a credit union if you must bank in the US. Problem solved. |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Mon May 14, 2012 1:22 am Post subject: |
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Thanks G. this is helpful info...
are you checking account-less back home?
my last step is to maintain my chase credit card back home (for emergencies) but find ways to pay off that card without a US based checking account.
I am not certain a chase credit card account can have wires into it as it is not a proper banking account?? you would think so, as chase bank is the card's bank, but looking at the info required I don't think I can wire money over to that account type. this is required:
(Foreign) bank code (International routing number)
(Foreign) bank account number
(Foreign) bank branch and its address, associated with the account
I have put in an inquiry with chase. I'll post my findings... |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Mon May 14, 2012 1:32 am Post subject: |
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| G Cthulhu wrote: |
| Why on earth do people in the US use any retail bank in the US?! They *all* suck. US retail banking is at least ~15 years behind the rest of the world. Use a credit union if you must bank in the US. Problem solved. |
agreed! my lesson is being learned. chase is corrupt as are others.. my next trip home I am doing it.
can't believe the 2 billion dollar gamble they just lost on derivatives which tax payers will cover. and my monthly fees they extract for a number of smaltzy reasons.. banks need federal regulating. they are too greedy to not fail.. |
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OneJoelFifty
Joined: 06 Oct 2009
Posts: 463
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| Posted: Mon May 14, 2012 5:36 am Post subject: |
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Probably not what you're after, but some others might find it useful.
http://vpc.lifecard.co.jp/ is a pre-paid Visa card. I haven't used it myself, but I've been told you can sign up for it and top it up at a conveni. You don't get sent a physical card, just a web link with your 'card' details that you need to buy things online. Useful for people like me that have a post office account and a bank account but no credit cards.
If anyone has one of these, or signs up for one, please share some more information. |
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Glenski
Joined: 15 Jan 2003
Posts: 12844
Location: Hokkaido, JAPAN
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| Posted: Mon May 14, 2012 5:53 am Post subject: |
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| stumptowny wrote: |
Thanks G. this is helpful info...
are you checking account-less back home? |
Nope. Considering the fact that the interest alone is far greater there, I thought it made more sense to keep it. Plus, there is always some reason to pay something back home by check (in my life, anyway). |
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Inflames
Joined: 02 Apr 2006
Posts: 486
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| Posted: Mon May 14, 2012 4:12 pm Post subject: |
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| G Cthulhu wrote: |
| Why on earth do people in the US use any retail bank in the US?! They *all* suck. US retail banking is at least ~15 years behind the rest of the world. Use a credit union if you must bank in the US. Problem solved. |
Considering that we're partially talking about Japanese banks here, I needed a good laugh. Banks in the US do have a habit of kicking when you're down (or bad at managing money).
I have a credit union account, one with Bank of America and one with ING. I never have to worry about fees with the credit union account. ING is good since my grandparents have a habit of sending checks and I can use remote deposit (they also gave me $107 for opening the thing). Bank of America is good because their internet banking is really, really good.
I always recommend people open a joint account with a trusted relative back home. If any issues arise, the relative can take care of them.
You can't pay bills from your Japanese account - you'll need an account in the US to pay them. I know ING (now part of Crapital One) and Ally both offer fee-free accounts but the issue will probably be closing the Chase account from overseas and opening an account elsewhere.
Just a hint if anyone decides to open an account from overseas (online, for example) - always say you're unemployed. I once had Citibank ask me for pay stubs a few years ago (they were offering like $200 for opening a savings account) - and they gave me a credit card with a $10,000 limit with just my signature. |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Wed May 16, 2012 4:50 am Post subject: |
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well, chase is not truly free checking. you are charged 10-20 bucks for not meeting one of five requirements. so they are history in my book...
and I will not open a checking/saving account back home until I move back, though a joint account is a good idea, from a credit union this time!!
so I will have to pay off, if I ever use it for emergencies, my chase visa credit card by other means than transferring from my soon to be cancelled chase "free checking" account.
anyone have the rakuten credit card? I signed up recently and they advertise visa/mastercard/JCB cards. the online application defaulted to JCB though and gave no other options for the pull down.. go figure. anyone have a JCB type credit card? should be ok for online purchases (flights, flowers for mom) but I am worried about its coverage in general outside of japan...
I applied for the rakuten because I heard it is easy for gaijin to get.. |
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almatythen
Joined: 14 Jun 2011
Posts: 14
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| Posted: Wed May 16, 2012 2:10 pm Post subject: |
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I agree with G Cthulhu! Credit Union all the way! And I wonder if they (JP Morgan) really gambled the 2 Billion or if the Occupy Movement's call to withdraw money and investments a couple months ago actually had some effect. The WORSE thing the bank could do would be to admit that it did, that would empower people!  |
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