Banking
Japan — Banking: Best Banks
Japan's 'Big Three' megabanks are MUFG (Mitsubishi UFJ), Mizuho, and SMBC (Sumitomo Mitsui). MUFG is Japan's largest by market cap and generally considered the best of the three for foreigners, with the deepest international network, most complete multilingual support, and a cleaner English-language app — the default choice for skilled professionals, international students, and employees of foreign-affiliated companies. Mizuho has limited English customer service (Japanese fluency often required to open an account) and has faced notable IT/system downtime issues in recent years. SMBC has a stable app and strong corporate integration, though English support is spotty outside main international branches; its SMBC Trust Bank PRESTIA brand specifically targets foreigners with English-language banking, multi-currency accounts, and a multi-currency Visa debit card. Japan Post Bank remains the most broadly accessible option nationwide for all visa types, with no minimum residence period.
Key facts
- MUFG: largest megabank, best English support among the Big Three, preferred by skilled professionals/students/foreign-company employees.
- Mizuho: limited English support, Japanese fluency often needed; has faced IT/system downtime issues.
- SMBC: stable app, strong corporate integration; SMBC Trust Bank PRESTIA brand offers English-language, multi-currency banking for foreigners.
- Japan Post Bank: most broadly accessible nationwide, no minimum residence period, good for all visa types.
Common mistakes
- Choosing Mizuho for its brand recognition without confirming English-language support is available at the specific branch.