Sendai

1. Overview of the Banking System in Japan

Japan’s banking system is highly efficient, secure, and technologically advanced. In Sendai, as in the rest of Japan, banks and ATMs are widely available, and the system is designed to cater to both residents and visitors. However, it is important to note that Japan is still a cash-centric society, so having access to cash is essential for daily transactions, especially in smaller shops, restaurants, and rural areas.

The major banks in Sendai include:

• Mitsubishi UFJ Bank (MUFG)
• Sumitomo Mitsui Banking Corporation (SMBC)
• Mizuho Bank
• Japan Post Bank (Yucho Ginko)
• Seven Bank (affiliated with 7-Eleven convenience stores)

Regional banks like 77 Bank (Shichijushichi Ginko) and Sendai Bank also play a significant role in the local economy.

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2. Opening a Bank Account in Sendai

If you are planning to stay in Sendai long-term (e.g., as a resident, student, or worker), opening a Japanese bank account is highly recommended. Here’s what you need to know:

Eligibility

• You must have a valid Residence Card (Zairyu Card).
• Short-term visitors (e.g., tourists) are generally not eligible to open a bank account.

Necessary Documents

To open a bank account, you will typically need:

1. Residence Card (Zairyu Card): Proof of your legal status in Japan.
2. Passport: For identity verification.
3. My Number Card or My Number Notification Letter: Required for tax purposes.
4. Hanko (Personal Seal): While some banks now accept signatures, many still require a hanko for official documents.
5. Proof of Address: This can be a utility bill or the address registered on your Residence Card.
6. Phone Number: A Japanese phone number is often required for account setup and online banking.

Process

1. Visit the bank branch during business hours (typically 9:00 AM to 3:00 PM on weekdays).
2. Fill out the application form (available in Japanese; some banks offer English assistance).
3. Submit your documents.
4. Wait for your bank card and passbook (tsuucho) to be issued. These are usually mailed to your registered address within 1-2 weeks.

Types of Accounts

• Ordinary Deposit Account (Futsu Yokin): The most common type of account for daily transactions.
• Savings Account (Teiki Yokin): For long-term savings with higher interest rates.

Banking Services

• Passbook (Tsuucho): A physical record of your transactions.
• Cash Card: Used for ATM withdrawals and deposits.
• Online Banking: Available in Japanese, with some banks offering English interfaces.

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3. ATMs in Sendai

ATMs are widely available in Sendai, and many are foreigner-friendly. They can be found in:

• Convenience stores (7-Eleven, Lawson, FamilyMart)
• Post offices
• Train stations
• Shopping malls
• Bank branches

Language Accessibility

• ATMs at 7-Eleven (Seven Bank), Japan Post Bank, and some major banks offer English, Chinese, Korean, and other language options.
• Instructions are clear and user-friendly, making it easy for non-Japanese speakers to withdraw cash or check balances.

Transaction Fees

• Domestic Cards: Fees vary depending on the bank and time of day. Transactions during business hours (8:45 AM to 6:00 PM) are often free, while after-hours transactions may incur a fee (¥110–¥220).
• International Cards: ATMs like Seven Bank and Japan Post Bank accept foreign cards (Visa, Mastercard, American Express, etc.), but fees typically range from ¥100 to ¥300 per transaction, depending on your home bank.

Withdrawal Limits

• Domestic Cards: Daily withdrawal limits are usually set by your bank (e.g., ¥50,000–¥200,000).
• International Cards: Limits depend on your home bank, but Japanese ATMs often have a per-transaction limit of ¥100,000.

Operating Hours

• Convenience store ATMs: 24/7 (e.g., Seven Bank ATMs in 7-Eleven stores).
• Bank branch ATMs: Typically 8:00 AM to 9:00 PM.
• Post office ATMs: 9:00 AM to 5:00 PM on weekdays, with limited hours on weekends.

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4. Cultural and Practical Considerations

Cash vs. Card

• While credit and debit cards are increasingly accepted in Sendai, cash is still king in many places, especially smaller businesses and traditional markets.
• Always carry some cash for emergencies or small purchases.

Hanko (Personal Seal)

• A hanko is a small stamp used in place of a signature for official documents. While some banks now accept signatures, having a hanko is still a cultural norm and may speed up the account-opening process.

Politeness and Patience

• Bank staff may not always speak fluent English, so be patient and polite. Bringing a Japanese-speaking friend or using a translation app can be helpful.
• Dress modestly and avoid loud or disruptive behavior in bank branches.

Tax and Residency

• If you are a resident, your bank account will be linked to your My Number for tax purposes. Ensure you report any changes in your residency status to the bank.

Emergency Cash

• If you lose your card or need emergency cash, Western Union services are available in Sendai, and some international banks offer emergency cash withdrawal services.

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5. Tips for Visitors

• Use Seven Bank ATMs or Japan Post Bank ATMs for international cards.
• Check with your home bank about international transaction fees and withdrawal limits before traveling.
• Keep small denominations of cash (¥1,000 or ¥5,000 bills) for convenience, as some places may not accept large bills (¥10,000).

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6. Useful Phrases

If you need assistance at a bank or ATM, these phrases may help:

• 銀行口座を開設したいです。
  (Ginkou kouza wo kaisetsu shitai desu.) – "I want to open a bank account."
• 英語の案内はありますか？
  (Eigo no annai wa arimasu ka?) – "Do you have instructions in English?"
• ATMはどこですか？
  (ATM wa doko desu ka?) – "Where is the ATM?"

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By following this guide, you should be well-prepared to handle banking and ATM transactions in Sendai, Japan. If you have any further questions or need clarification, feel free to ask!