Money and Banking

The problem with Japanese banks is that English support in-branch is virtually non-existent. While ATMs may have limited English menus for withdrawing & depositing funds, they often leave out menus for advanced functions such as making bank transfers from account to account. Online banking, while also available, is only in Japanese. Therefore, most expats choose to open an account with one of the below banks that provide English support. SMBC Trust Bank Prestia SMBC Trust Bank Prestia is a brand formed by SMBC Trust Bank after their purchase of Citibank Japan. They offer a good standard of English-language support, both in-branch and online, and provide an additional card for spouses (although there are no joint accounts in Japan). One drawback, after the first three months of opening an account, a minimum average balance of JPY 500,000 (JPY 200,000 if denominated in foreign currency) is required to avoid monthly account maintenance fees. Another is that you have to pay a small fee for withdrawing cash from all non- SMBC Trust Bank Prestia Brand ATMs. www.smbctb.co.jp/en/prestia PROS + Good standard of in-branch English support + Supplementary card for spouses CONS – An average minimum balance of JPY 500,000 is required to avoid maintenance…