Sapporo

๐Ÿฆ

Banking

Information on setting up bank accounts, accessing ATMs, and understanding banking services in Sapporo.

Sections

1. Overview of Banking in Sapporo

Sapporo, the capital of Hokkaido, is a modern city with a well-developed banking system. Major Japanese banks, regional banks, and international ATMs are widely available. However, banking in Japan can be slightly different from what you may be used to, especially regarding language barriers, operating hours, and procedures.

2. Opening a Bank Account in Sapporo

If youโ€™re planning to stay in Sapporo for an extended period (e.g., as a resident, student, or worker), opening a Japanese bank account is essential for receiving salaries, paying bills, and managing finances.

Requirements to Open a Bank Account

To open a bank account in Sapporo, youโ€™ll need the following:

  1. Residence Card (ๅœจ็•™ใ‚ซใƒผใƒ‰, Zairyลซ Kฤdo): Proof of your legal status in Japan.
  2. My Number Card (ใƒžใ‚คใƒŠใƒณใƒใƒผใ‚ซใƒผใƒ‰): Japanโ€™s social security and tax number system. Some banks may accept the notification letter instead.
  3. Passport: For identification purposes.
  4. Japanese Address: Proof of a local address is required.
  5. Phone Number: A Japanese phone number is often necessary for account registration and online banking.
  6. Hanko (Personal Seal): While some banks now accept signatures, many still require a hanko for official documents.

Steps to Open an Account

  1. Visit the bank branch in person (appointments are not usually required).
  2. Fill out the application form (available in Japanese; some banks offer English assistance).
  3. Submit the required documents.
  4. Wait for your cash card (ใ‚ญใƒฃใƒƒใ‚ทใƒฅใ‚ซใƒผใƒ‰, kyasshu kฤdo) to arrive by mail, which usually takes 1-2 weeks.

Popular Banks in Sapporo

  1. Japan Post Bank (ใ‚†ใ†ใกใ‚‡้Š€่กŒ, Yลซcho Ginkล):

    • Ideal for foreigners due to its simple procedures and wide ATM network.
    • No minimum deposit required.
    • Offers basic savings accounts and international remittance services.

  2. Hokkaido Bank (ๅŒ—ๆตท้“้Š€่กŒ, Hokkaidล Ginkล):

    • A regional bank with a strong presence in Sapporo.
    • Services are primarily in Japanese, but staff are often helpful.

  3. Sapporo Bank (ๆœญๅนŒ้Š€่กŒ, Sapporo Ginkล):

    • Another regional bank catering to local residents and businesses.
    • Limited English support.

  4. Mitsubishi UFJ Bank (ไธ‰่ฑUFJ้Š€่กŒ, MUFG):

    • One of Japanโ€™s largest banks with some English-language services.
    • Offers online banking and international remittance options.

  5. Shinsei Bank (ๆ–ฐ็”Ÿ้Š€่กŒ):

    • Known for being foreigner-friendly with English-speaking staff and online banking.
    • No hanko required; signature is accepted.

3. Costs and Services

Account Maintenance Fees

  • Most Japanese banks do not charge monthly maintenance fees for basic savings accounts.
  • Some banks may charge fees for additional services like international remittances or premium accounts.

ATM Fees

  • Domestic ATMs: Free during business hours (usually 8:45 AM to 6:00 PM on weekdays). Fees (ยฅ110โ€“ยฅ220) apply outside these hours or on weekends/holidays.
  • International ATMs: ATMs like Seven Bank (7-Eleven) and Japan Post Bank accept foreign cards but may charge a withdrawal fee (ยฅ110โ€“ยฅ220) plus your home bankโ€™s fees.

International Remittance

  • Fees for sending money abroad range from ยฅ2,000 to ยฅ5,000, depending on the bank and destination.
  • Shinsei Bank and Japan Post Bank are popular for their relatively low remittance fees.

Currency Exchange

  • Banks and post offices offer currency exchange services, but rates may not be as competitive as at dedicated currency exchange counters (e.g., Travelex or at New Chitose Airport).

4. Operating Hours

  • Bank Branches: Typically open from 9:00 AM to 3:00 PM on weekdays. Closed on weekends and public holidays.
  • ATMs: Available from 8:00 AM to 9:00 PM, though hours vary by location. Convenience store ATMs (e.g., 7-Eleven, Lawson) operate 24/7.

5. ATM Accessibility

Sapporo has an extensive network of ATMs, including those in convenience stores, train stations, and shopping centers. Here are some key points:

  • Convenience Store ATMs: Found in 7-Eleven, Lawson, and FamilyMart. These ATMs often support foreign cards (Visa, Mastercard, UnionPay, etc.).
  • Japan Post ATMs: Located in post offices and accept foreign cards.
  • Bank ATMs: May not always support foreign cards, so check the compatibility before using.

6. Foreign Currency Exchange

If you need to exchange foreign currency, here are your options:

  1. Banks: Offer currency exchange services but may have limited hours and higher fees.
  2. Post Offices: Provide currency exchange services at competitive rates.
  3. Currency Exchange Counters: Found at New Chitose Airport and major shopping areas in Sapporo.
  4. ATMs: Some ATMs allow you to withdraw Japanese yen directly from your foreign bank account.

7. Cultural Practices and Tips

  1. Language Barrier: Most bank staff in Sapporo speak only Japanese. Bring a Japanese-speaking friend or use a translation app if needed. Some banks, like Shinsei Bank, offer English support.
  2. Hanko Usage: While some banks accept signatures, having a hanko is still common and may speed up the process.
  3. Cash Culture: Japan is still a cash-heavy society, so always have some cash on hand. ATMs are widely available, but not all accept foreign cards.
  4. Politeness: Japanese banking culture emphasizes politeness and patience. Be prepared for longer procedures compared to Western countries.
  5. Paperwork: Japanese banks rely heavily on paperwork. Ensure all forms are filled out correctly to avoid delays.

8. Tips for Visitors

  • Use international ATMs at 7-Eleven or Japan Post for cash withdrawals.
  • Carry your passport when exchanging currency or using foreign cards at banks.
  • Plan your banking activities during business hours, as many services are unavailable after 3:00 PM.

9. Online and Mobile Banking

  • Many Japanese banks offer online banking, but the interfaces are often in Japanese.
  • Shinsei Bank and MUFG provide English-language online banking options.
  • Mobile banking apps are available but may require a Japanese phone number for registration.

10. Emergency Contacts

  • Lost or Stolen Cards: Contact your bank immediately. Most banks have 24/7 hotlines for reporting lost cards.
  • Foreign Card Issues: If your foreign card doesnโ€™t work at an ATM, try a 7-Eleven or Japan Post ATM.

By following this guide, youโ€™ll be well-prepared to navigate the banking system in Sapporo. Whether youโ€™re a visitor or a long-term resident, understanding these procedures and cultural nuances will make your experience smoother and more efficient.