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A list of the top banks in Japan
Moving to Japan for work, study or to start a business? Perhaps you’re on a gap year tour of the country, or are staying a while visiting family.
Whatever your circumstances, you could find it useful to open a bank account in Japan to help you manage your money.
In this guide, we’ll run through a list of the top banks in Japan, with details of each and the accounts they offer. This should help you compare what’s out there and choose the right option for you.
Let’s start with a quick overview of banking in Japan.
Banking in Japan (an overview)
The banking sector in Japan is one of the largest in the world in terms of assets. The country has a large number of commercial banks, especially relative to its size. The market is dominated by a small number of ‘megabanks’.
All are overseen by the Bank of Japan, the country’s central bank, and the industry is regulated by the Financial Services Agency (FSA).
To open a bank account in Japan, you’ll usually need to provide the following documents:¹
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Residence card
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Proof of ID, such as your passport
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Proof of address
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Your Japanese mobile phone number
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Student ID (if opening a student account).
Some banks may also ask for an initial deposit.
In terms of fees, some accounts do have monthly maintenance fees, as well as for using ATMs outside of your bank’s network.
And like banks all over the world, Japanese banks tend to charge high fees for international transfers and currency conversions. Unfortunately, this can make it costly if you need to send money between Japan and the UK, or anywhere else.
If you need to manage your money internationally and want to save money, check out Wise instead.
Top 10 banks in Japan
So, what are your options for a new bank account in Japan? To help you compare, here’s a list of some of the country’s biggest and most popular banks: ²
| Bank name | Operational HQ |
|---|---|
| Sumitomo Mitsui Banking Corporation | Tokyo |
| MUFG Bank | Tokyo |
| Mizuho Bank | Otemachi |
| Resona Bank | Tokyo |
| Kansai Mirai Bank | Osaka |
| The Bank of Yokohama | Yokohama |
| Daishi Hokuetsu Bank | Niigata |
| The Shizuoka Bank | Shizuoka |
| The Hokuriku Bank | Toyama |
| The Juhachi-Shinwa Bank | Nagasaki |
Sumitomo Mitsui Banking Corporation
The Sumitomo Mitsui Banking Corporation (SMBC) is one of Japan’s ‘megabanks’. It’s owned by the multinational giant, the Sumitomo Mitsui Financial Group (SMFG).
The group has lots of subsidiaries, but if you’re looking to open an account, the SMBC Trust Bank is the one to go for. It offers a Yen Deposit account ideal for everyday banking. It comes with a cash card, automatic bill payments, deposits and withdrawals.
The bank also offers private banking, real estate financial services and trust services.
MUFG Bank
Rivalling SMBC for the title of Japan’s largest bank is MUFG, which also happens to be one of the biggest in the world. As part of a global financial group, the bank has a wide network throughout Japan and a presence in multiple countries worldwide.
MUFG Bank offers corporate and investment banking, as well as transaction services for financial institutions. It also has personal banking services for Japanese residents, although you’ll need to contact the bank for details of available accounts.
Mizuho Bank
A public sector bank headquartered in Tokyo, Mizuho Bank offers retail, business, corporate and global banking services. It’s another of the country’s ‘megabanks’.
For everyday banking, a popular account is the Mizuho general account. It’s designed for everyday banking, where you can pay in your salary, schedule bill payments and use a debit card.
Business customers at Mizuho Bank can choose from corporate accounts, asset management solutions, financing, payments services and international business products.
Resona Bank
A major commercial bank headquartered in Osaka, Resona Bank is part of the Resona Group holding company. The group was founded over a hundred years ago in 1918.
Today, the bank serves both individuals and corporate customers. Along with loans, mortgages and insurance, Resona has a choice of accounts available. This includes Resona ordinary deposit, an app-managed account which pays interest on your money while also letting you deposit and withdraw when you like.
Resona Bank services for corporate customers include pensions, trusts and real estate, international business solutions and payment services.
Kansai Mirai Bank
The fifth biggest bank in Japan in terms of branch numbers, Kansai Mirai Bank is a private bank founded in 1950. It’s owned by Resona Bank, which took over in 2020.
It offers many of the same products and services as its parent bank, including the Ordinary Deposit account for day-to-day banking and saving.
Business owners and corporate customers can take advantage of a range of services at Kansai Mirai Bank. This includes corporate accounts, payment services, foreign exchange and start-up support.
The Bank of Yokohama
The Bank of Yokohama (BOY) is one of the largest regional banks in Japan, operating mainly in the Kanagawa Prefecture and southwestern Tokyo. It was founded in 1920 but is now owned by the Concordia Financial Group.
For personal customers, BOY has an Ordinary Deposit account that works well for everyday banking. It can be managed with online and mobile banking, and comes with a Yokohama Bank Card.
The bank also has cards, funding, payment and international trade products available for corporate clients, along with business management and consultation services.
Daishi Hokuetsu Bank
Daishi Hokuetsu Bank was formed in 2001 following the merger of The Daishi Bank and Hokuetsu Bank. Daishi Bank was one of the oldest banks in the country, founded in 1873.
Today, Daishi Hokuetsu Bank offers both retail and business banking. Popular with personal customers is its General Account, which can be used for spending, receiving, paying and borrowing. It’s essentially a current account and a savings account combined, with access to an overdraft if you need it.
Products for businesses include accounts, financing and asset management solutions. Plus, services to improve business efficiency.
The Shizuoka Bank
The Shizuoka Bank is a Japanese regional bank primarily focused on the Tokai region between Tokyo and Osaka, although it also operates overseas. It was founded in 1941, and today has become one of the biggest regional banks in the country.
It offers products and services for personal and business customers. This includes a General Account, managed via online and mobile banking. It offers everything you need for basic everyday money management.
Services for sole traders and companies include financing and procurement, business management and support. Plus, foreign exchange services.
The Hokuriku Bank
Another of the big regional banks, the Hokuriku Bank has a network of branches and ATMs throughout the Hokuriku district (encompassing Fukui, Ishikawa and Toyama prefectures). However, you’ll also find the bank’s branches in major cities such as Tokyo, Osaka and Kyoto. It’s part of the Hokuhoku Financial Group.
A popular option at the bank is its Hokugin Web Account, a digital account for personal customers with a cash card.
The Hokuriku Bank also has a wide range of products and services for business customers. This includes financing, business consultancy, foreign exchange, payments and everyday business banking.
The Juhachi-Shinwa Bank
Owned by the Fukuoka Financial Group, the Juhachi-Shinwa Bank is a relatively new bank. It was formed in 2020 following a merger between the Shinwa Bank and the Eighteenth Bank.
If you need a simple digital account for everyday use, the bank’s Net One Account could be worth a look. It comes with a cash card and online banking.
For businesses, the Juhachi-Shinwa Bank has accounts, financing, foreign exchange and other financial services available.
Online bank accounts and money management alternatives in Japan
Want a different way to manage your money in Japan? You could try a digital account or money app.
Here are a few of the most popular choices in Japan:
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Revolut - an all-in-one finance app with an account and debit card.
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Jibun Bank - a Japanese neobank offering mobile-first accounts and cards.
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Kyash - a Japanese payment service provider offering mobile personal accounts and cards.
Wise – Money for here, there and everywhere
If you want to send money internationally, or use your debit card when you travel, you could find it expensive with a Japanese bank.
The good news is that there’s a money-saving alternative available from the money services provider Wise. Open a Wise account online, and you can send money worldwide in 40+ currencies for low fees and fair exchange rates. It’s not a bank account but allows you to hold money used for sending or spending.
You can even get an international debit card for spending in over 150 countries, including Japan. It automatically converts your money to the local currency at the mid-market exchange rate, adding only a low, transparent conversion fee, whenever you spend.
This makes it ideal for travellers, expats, overseas students and anyone else living an international life.
And that’s it - our list of the top banks in Japan. You should be all set to start comparing accounts and find the best one for your needs. Good luck!
Sources used for this article:
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One Coin English - A Guide to Opening a Bank Account in Japan
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Statista - Largest banks in Japan as of March 2023, by number of branches
Sources last checked on 04-Apr-2024.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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