Financial Information ~ATMS & Banks~
 

Here goes, some of these questions may seem stupid, but I just want to cover all the bases O.o

ATMS: 1. Do ATM machines in Japan accept foreign debit cards?
~What fees are charged to withdraw from an ATM?
2. Would an ATM in Japan accept a Paypal debit card?
~What fees are charged to withdraw using a Paypal debit card?

3. What are some tips out there for how to handle ATM cash withdrawls?

Banks: 1. Would registering for a bank account in Japan be a good idea, if
one was to stay there for about 3 months?
~ If not, then heres my situation: I will be in Japan for 3 months, and will be receiving money from my dad to help pay for living expenses. Paypal is the fastest way we could find to send money and withdraw it, but what would it take to set up a bank account in Japan for three months, so that he could transfer the money to an account in Japan, and I could withdraw what I need from an ATM? (Again, Paypal seems the best option, as long as ATM's don't have erroneous service charges)

I hope this was organized well enough. Again, thanks all for the help, it seems everyone out there is so knowledgable about all this, whereas for me, it's simply my first time. Again, thanks.

~Seaghyn

Only ATMs at major banks accept foregin credit cards. Small ATMs, like the ones you find in your local konbini, accept only japanese cards. I had no problem doing transactions from CitiBank (one of the biggest banks in Japan) with both my Visa and my Mastercard.
Pay pal debit cards work on the Visa Electron system, right? Well, with these cards you can withdraw cash from CitiBank's ATMs, but you won't be able to pay in almost every shop. At least, that happened with a non-paypal debit card I tried to use.
I don't know more about paypal accounts, nor about the fees, sorry. Keep in mind that a lot of stores put an addictional 4 or 5% on the total price if you're paying with a credit card.
Registering for a bank account in Japan isn't an easy task, and you're required to have a long-term visa. I suppose you will have just a tourist visa, since you're staying in Japan for 90 days. (It's very difficult to get something in Japan if you don't have a visa. Heck, it's even difficult to get a proper cellphone in Japan if you have the tourist visa, you can get only a prepaid contract!). Definitely don't go through all the pain this process would take.
My advice would be... open a bank account in the US, and get a Visa credit card. It will be accepted worldwide. Have your dad deposit money on your account and withdraw these money in Japan. If you're staying in Tokyo or another big city, you'll have no problems in finding a CitiBank ATM.
Every time you leave the city, bring with you a lot of cash. Small cities don't have ATMs that accept international cards.

edit: apparently Paypal debit cards don't work on the Visa Electron system, but on the Mastercard system. Theoretically speaking, they will work on every ATM that accepts foregin cards.

Citibank is the major Gaijin bank there.

They are also affiliated with other banks.

Yes Debit cards work.

and they charge 2 bucks per withdraw

check out Citibank's website and see what cards work

Visa/master/Chase/Wachovia are the ones i used in japan fine.

That means it is possible to open an account there as a tourist?

No, but it possible to open an account in the US as a US citizen.

Let me add that pre-paid VISA cards are really hit and miss in Japan. I recommend bringing cash and/or a normal VISA card.

What a backward country. I was able to open a bank account in Hongkong by just showing my passport.

Unfortunately I am German citizen living in a neighbor country of Japan and not able to go back to Germany just for opening a bank account. :pinkcry:

Don't quote me on this, but when i was having a chat with a japanese exchange student. She suggested Tokyo Mitsubishi Bank in Roppongi. Aparently you can open an account there with just your passport and you can get a "Pooh Bear ATM card."...

I don't know if this is true, and i wouldn't have this as your first and only choice, but it does sound like a good choice!

That's what I found on the webside of the Mitsubishi Bank:

Means theoretically it should be possible to open an account with a passport.

Give it a shot!

I know the ATM's in 7-11's will take Visa, MC and MC debit cards.


Make sure you call your FI to let them know you will be in Japan before you go. Don't know how many times I've heard of people's accounts being frozen due to out of country transactions.

I am going to put my money on that theory not working simply because you don't have a fixed address in Japan if you are a tourist

oh, also - don't Japanese banks require a hanko stamp as well?

SMBC wouldn't go near my application until I had one made... wouldn't accept a signature

i think you can open an account though. actually Japan Post office also have a bank, you can also open an account there. and there atm machines don't charge your withdrawal after 6pm :D

majority does, but there are some bank who don't but you have to find them

I needed a hanko and proof of Japanese address to open an account.

same here ( in my current account )

but i think it was Yokohama Bank in Kawasaki, Kanagawa that we were able to open an account with just passport , i was on traning that time and I don't have a hanko and ARC yet, but they did allow it.

But by default they really require you to have a ARC AND HANKO to open an account..

I already have a Hanko with my Chinese name. But even if I didn't have one, isn't it very simple to have one made?

i don't know how complicated or easy getting a hanko but it as far as i know it needs to be registered and I think it takes about a week or so to be ordered.

although you can buy hanko at 100yen shop.. :D

That might work. Since my name is in katakana, I had to get it custom made, but it didn't take very long, a few days, if I remember correctly.

yeah, got mine made at a stationers...

I suppose you could always go to the 100yen store and buy a suzuki hanko though hahaha!