Im fairly new to living in japan, are there any online savings accounts or something of the sort where I can set aside my money other than having it in in my bank account? Does that even exist here?
Savings account exists, (I think all personal 普通 accounts are “savings” by default) but they practically have no interest due to nonexistent BOJ rates. So in the end, money in a savings account would also just be sitting there.
You mean investing? Yes definitely. Do you mean you want online banking and not in person banking? Yes. Most banks offer the latter, such as MUFJ, Sony, Resona etc. For the former, I think Rakuten(?) offers something for day trading? There’s also NISA* [https://jobsinjapan.com/living-in-japan-guide/introducing-nisa-japans-simple-investment-scheme/](https://jobsinjapan.com/living-in-japan-guide/introducing-nisa-japans-simple-investment-scheme/)
I think SBI let’s you allocate money in your current account for different purposes. So if you didn’t want to open and maintain a completely separate account you could at least split this money virtually. They are called 目的別口座.
If you are looking for another bank account, you could try opening a Sony Bank account which is all online, fast and simple. (Has English interface too).
4 comments
Savings account exists, (I think all personal 普通 accounts are “savings” by default) but they practically have no interest due to nonexistent BOJ rates. So in the end, money in a savings account would also just be sitting there.
You mean investing? Yes definitely. Do you mean you want online banking and not in person banking? Yes. Most banks offer the latter, such as MUFJ, Sony, Resona etc. For the former, I think Rakuten(?) offers something for day trading? There’s also NISA* [https://jobsinjapan.com/living-in-japan-guide/introducing-nisa-japans-simple-investment-scheme/](https://jobsinjapan.com/living-in-japan-guide/introducing-nisa-japans-simple-investment-scheme/)
I think SBI let’s you allocate money in your current account for different purposes. So if you didn’t want to open and maintain a completely separate account you could at least split this money virtually. They are called 目的別口座.
If you are looking for another bank account, you could try opening a Sony Bank account which is all online, fast and simple. (Has English interface too).