Banking
Japan — Banking: Online Banks
Japan's pure-play digital banks (Sony Bank, Rakuten Bank, SBI Sumishin Net Bank, au Jibun Bank, PayPay Bank, Daiwa Next Bank) operate under the same Banking Act and JFSA prudential regime as traditional banks — same capital-adequacy and liquidity rules. Sony Bank has no physical branches, offers all services in English, supports 12 foreign currencies (USD, EUR, GBP, AUD, CAD, etc.) through its English app, and allows up to 4 free ATM withdrawals/month — a strong choice for foreigners. Rakuten Bank is the largest Japanese net bank by customer count and the only TSE Prime-listed pure-play net bank, offering fully online account opening (no branch visit, no minimum residency period) with yen savings/current accounts, a debit card, and Rakuten Points integration.
Key facts
- Digital banks (Sony, Rakuten, SBI Sumishin, au Jibun, PayPay, Daiwa Next) operate under the same JFSA regime as traditional banks.
- Sony Bank: no physical branches, full English service, 12 supported foreign currencies, 4 free ATM withdrawals/month.
- Rakuten Bank: largest net bank by customer count, TSE Prime-listed, fully online opening with no minimum residency required.
- Rakuten Bank's fully online, no-residency-requirement application makes it especially accessible to new arrivals.