Basically a Resident foreign currency account. My friend arrived today and she bought all her expenses for months in USD and CHF. Already have the approved paperworks on to why she was carrying that much on hand.
Was wondering if there are any options other than exchanging them all at once. I remember smbc citi bank thing having foreign currency accounts. But any other available banks for this ?
She’s on a work visa (doctor)
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Prestia has foreign friendly multi-currency bank accounts. But they are a trust bank so PayPay and LINE Pay will not work through them.
Perharps Sony bank?
Although many bank have multi currency accounts, they require you to convert JPY to the other currency. I know Shinsei bank explicitly restricts deposit of foreign currency cash. Your friend may have a hard time.
Another bank account question, another simp post from me to suggest Sony Bank.
My wife was recommended Mizuho Bank by her money savvy brother. I use Sony Bank for the English availability.
I wonder ho much you lose on usd account. I read from smbc page it take some % to add/hold usd
What your friend needs is a financial institution that accepts foreign currency in cash and deposits it into a multi-currency account.
There are plenty of multi-currency accounts but I’m not aware of any that let you deposit FX in cash. They are to accept incoming overseas remittances and buy and sell from JPY.
Your friend could exchange it to yen at a currency exchange (which charges a significant commission) or bank and deposit it into any account or electronic payment service. Of course, the cheaper option would have been if she remitted the money via Wise or Revolut or directly to a new J bank account.