Finance

Quick Answer Best banks for foreigners in Japan: Japan Post Bank (most accessible — accepts new arrivals, branches everywhere), Rakuten Bank (best online bank, links to Rakuten Card for rewards), Sony Bank (English support, good exchange rates), SBI Shinsei Bank (English interface, no ATM fees abroad). Most banks require at least 3–6 months of Japan residency. If you can’t open a bank account yet, use Wise — no Japan residency requirement, real exchange rate, works immediately. ...

Currency exchange rates in Japan vary dramatically by location — airports are the worst, post offices and some convenience stores are among the best. Where you exchange money is a decision worth thinking about. Here’s how to get the best rate in Japan. Exchanging Foreign Currency for Yen in Japan Best Options (Good Rates) 1. Seven Bank ATM / 7-Eleven ATM ⭐ Best for Quick Cash Located in every 7-Eleven convenience store Accepts cards from most countries Exchange rate is close to interbank rate Fee: ¥108–220 per transaction (your home bank may also charge) Available 24/7 2. Japan Post Bank (ゆうちょATM) ATMs in all post offices Accepts international cards (Visa, Mastercard, Plus, Cirrus) Good rates, reasonable fees 3. Authorized Exchange Bureaus In major cities and airports, look for licensed currency exchange shops: ...

Sending money from Japan to your home country costs more than it should if you’re using the wrong service. The best money transfer apps can save you thousands of yen per transaction. Here’s a direct comparison of what’s available from Japan. What Actually Matters When Choosing a Service Low fees — both fixed fees and percentage fees add up Good exchange rate — some services look cheap on fees but quietly give you a terrible rate Transfer speed — same day vs 2–3 days matters if someone’s waiting on the money Supported countries — make sure your home country is covered Best Money Transfer Apps from Japan 1. Wise (formerly TransferWise) — Best Overall Feature Details Fee ~0.5–1.5% of amount Exchange rate Mid-market rate (best available) Speed 1–2 business days Countries Philippines, Vietnam, Indonesia, and 80+ more Wise is the one I recommend to basically everyone. The fees are transparent — you see exactly what you’re paying before you confirm. And they use the real mid-market exchange rate, not some marked-up version the banks use to pocket the difference. ...

What you'll learn in this guide Which Japanese savings accounts pay the highest interest in 2025 Which accounts foreigners can actually open (eligibility by visa type) How Japanese bank interest rates compare to your home country Step-by-step process for opening each account How to transfer savings abroad efficiently using Wise Japan’s interest rates have been near zero for decades — but 2024–2025 brought a significant shift. The Bank of Japan raised rates for the first time since 2007, and savings account rates are now meaningfully above zero. If you’re keeping yen in a Japanese account, choosing the right bank matters more than it did a few years ago. ...

Quick Answer Yes, foreigners can get a Japanese credit card. Start with Rakuten Card (highest foreigner approval rate, free) or Epos Card (apply in-person at Marui stores). You need a residence card, Japanese bank account, and stable income. Apply within your first 6 months while your income is easiest to verify. Using the wrong credit card in Japan costs you money on every transaction — foreign transaction fees, poor exchange rates, and missed rewards. The right card setup for Japan is different from what works at home. Here’s what to use and what to avoid. ...

Quick Answer Best credit cards for foreigners in Japan: Rakuten Card (free, ¥5,000 bonus, most foreigner-friendly — apply after 6+ months in Japan), Epos Card (apply in-store at Marui for faster approval), SAISON Card (no annual fee, flexible). You need: residence card, Japanese address registered at city hall, Japanese bank account. Initial credit limits are low (¥100,000–300,000). If rejected, use the Wise debit card as a substitute — no credit check, works worldwide. ...

Quick Answer Most company employees in Japan don’t need to file a tax return — their employer does year-end adjustment (nenmatsu chosei) for them. You must file yourself if you’re self-employed, had multiple employers, earned over ¥20M, or have deductions to claim. The tax filing period is February 16 – March 15 each year. File at your local tax office (zeimusho) or online via e-Tax. Filing a tax return in Japan for the first time feels overwhelming — the forms are in Japanese, the rules are specific, and the deadlines are unforgiving. Once you understand the structure, it’s actually manageable. Here’s a step-by-step guide to filing taxes in Japan as a foreign resident. ...

Quick Answer Who must file: Freelancers, side-income earners (¥200,000+/year extra income), those with 2+ employers, people who left mid-year, and anyone claiming deductions beyond the standard year-end adjustment. Who doesn’t need to file: Salaried employees with one employer — your company handles it via nenmatsu chōsei. Deadline: February 16–March 15 (for previous year’s income). Biggest mistake foreigners make: Not knowing about the second-year residence tax spike (housing allowance stops, ¥100,000–300,000 bill arrives in June). ...

Japan can be extremely affordable if you live like a resident rather than a tourist. The gap between how much foreigners spend and how much they could spend is often enormous. Here are the practical habits that actually make a difference to your monthly budget. 1. Cut Your Phone Bill First This is the single biggest win for most foreigners. A lot of people arrive in Japan and end up on a big carrier plan out of convenience — and pay for it. ...

Investing while living in Japan as a foreigner involves tax implications, account restrictions, and platform choices that don’t apply to Japanese residents. Getting the setup right from the beginning saves significant complications later. Here’s a practical guide to investing in Japan as a foreign resident. Start Here: Open a NISA Account New NISA (2024 onwards) is Japan’s tax-free investment account — the most important account for any foreign resident investing in Japan. ...