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Author Topic: japanese bank account for foreigners  (Read 2973 times)
r0sc0e
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January 02, 2014, 06:05:41 PM
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Hi everybody,

does someone have the experience how difficult it is to create a bank account at a japanese bank?
What banks are located there, and how is your experience with japanese banks?

Thanks for your experiences.
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Kenshin
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January 02, 2014, 06:14:36 PM
 #2

Hi everybody,

does someone have the experience how difficult it is to create a bank account at a japanese bank?
What banks are located there, and how is your experience with japanese banks?

Thanks for your experiences.


Are you going to open an account in person or online?
r0sc0e
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January 02, 2014, 06:19:23 PM
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Hi kenshin,

it would be nice to do it online. but i think thats not possible.
But i dont know it. in person is not possible, i am located in europe
kireinaha
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January 02, 2014, 06:30:38 PM
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I have a bank account there, but I opened it while living in Japan and working for a company over there. In my case, I needed a "hanko" (Japanese stamp with name engraved for "signing" documents) and filled out paperwork. I'd imagine most banks require you to have a Japanese address, but not sure.

Night gathers, and now my bitcoinwisdom watch begins.
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January 02, 2014, 06:31:51 PM
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https://en.wikipedia.org/wiki/List_of_banks_in_Japan

You will need to have a lot of documentation. All offshore accounts ask for a lot of documents to comply to money laundering regulation.
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January 03, 2014, 12:15:32 AM
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I've found it very difficult to setup a bank account in japan - i even visited japan to try.

I did find some companies in japan that well form a corporation and open a bank account for you, but it is expensive and japan requires you have someone in japan sign off on the bank account, so you'll have to pay someone monthly to take the responsibility of the bank account for you (a Japanese resident).

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January 05, 2014, 02:16:05 AM
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There's no point anyway. I could do it, since I have a Japanese account, but after the fees involved in transferring to Gox, selling at Gox, and then withdrawing, the profit margin tends to be razor thin. Also, factor in the stress of dealing with Gox and waiting for the money to show up in the bank account, and finally converting said money to US dollars or whatever it is you'd prefer, there's just no point in it.

Better off just buying coins and trading or holding on to them.

Night gathers, and now my bitcoinwisdom watch begins.
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January 05, 2014, 05:49:33 AM
 #8

http://www.rakuten-card.co.jp/service/vpcard/
http://www.rakuten-card.co.jp/service/atm/bank/
Huh

or you need a CC with japanese address? that is more easy
DeboraMeeks
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January 05, 2014, 02:48:54 PM
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First of all online isn't an option. you need to have a physical presence at the country and full papers (well like almost any country),Identity proofs. Japan is one of the strict countries regarding banking and financial details.
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January 06, 2014, 03:44:42 AM
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I don't think it is possible from abroad.
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January 06, 2014, 08:48:02 AM
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(well like almost any country)
Everyone can make it right now (not in Japan based bank).
r0sc0e
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January 06, 2014, 12:30:35 PM
 #12

i need the bank account to get money fast out of mtgox.
if i pay a japanese layer for that, could he create on for me?

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January 18, 2014, 01:39:27 PM
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I don't recommend it. I have a Japanese bank account linked to Gox and have been cleared with 'trusted' status. I've requested on a number of occasions for them to raise my withdrawal limit but so far I'm still stuck at $1000 a day and $10,000 a month which limits arb opportunities. Also, although I have a USD Japanese account as well, they won't let me withdraw into that account which means I have to withdraw in JPY, that makes it necessary to convert back to USD and get hit with more fees. A big hassle at the end of the day.
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January 19, 2014, 05:29:08 PM
 #14

I have a Japanese bank account linked to Gox and have been cleared with 'trusted' status. I've requested on a number of occasions for them to raise my withdrawal limit but so far I'm still stuck at $1000 a day and $10,000 a month

Then it is meaningless for being 'trusted'. What are their explanation regarding the rejection? 

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January 20, 2014, 12:20:50 AM
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I don't recommend it. I have a Japanese bank account linked to Gox and have been cleared with 'trusted' status. I've requested on a number of occasions for them to raise my withdrawal limit but so far I'm still stuck at $1000 a day and $10,000 a month which limits arb opportunities. Also, although I have a USD Japanese account as well, they won't let me withdraw into that account which means I have to withdraw in JPY, that makes it necessary to convert back to USD and get hit with more fees. A big hassle at the end of the day.

How did you managed to sign in for a Japanese bank account?

Are you Japanese or did you signed up for an account from abroad? If so, how?
medialab101
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January 20, 2014, 06:17:11 AM
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I don't recommend it. I have a Japanese bank account linked to Gox and have been cleared with 'trusted' status. I've requested on a number of occasions for them to raise my withdrawal limit but so far I'm still stuck at $1000 a day and $10,000 a month which limits arb opportunities. Also, although I have a USD Japanese account as well, they won't let me withdraw into that account which means I have to withdraw in JPY, that makes it necessary to convert back to USD and get hit with more fees. A big hassle at the end of the day.

How did you managed to sign in for a Japanese bank account?

Are you Japanese or did you signed up for an account from abroad? If so, how?



I'm married to a Japanese national and have 'permanent resident' status. Although it may be possible, I've never heard of anyone being able to open a personal account from abroad.
JohnnyPierce
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January 20, 2014, 02:59:48 PM
 #17

I don't have a Gox account, but is a Japanese bank account the only way to withdraw money from Gox?

I'm from Europe, do I have any feasible alternative to actually withdraw money from them?
nitehawk
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January 20, 2014, 03:21:27 PM
 #18

I thought you needed a Japanese civil id to open a bank account ( or was that Korea)

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severance26
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January 20, 2014, 09:56:02 PM
 #19

Also a permanent resident married to a Japanese national here.

I agree with above post that it MAY be possible, but you've got quite a bit of roadblocks. Anyone trying this out probably has a lawyer and at least half a million to invest. In other words, you've got to have enough money to make it worth flying out here, making your own company, etc... The bulk of the real paperwork required here will need a Japanese speaker, you won't get by on just English. And that being said I'm not sure its possible anyway, because I personally have been required to show proof of residence every time I made a bank account.

I understand your feelings about it. I only got into bitcoins because I realized the opportunity I had by living in Japan.
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