Best Savings Accounts for International Students in Japan

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The best savings accounts for international students in Japan should provide easy access to funds, low banking fees, reliable ATMs, and account-opening requirements that foreign students can realistically meet.

In Japan, the account commonly used for both everyday banking and basic savings is called an ordinary deposit account, or futsū yokin. Students who want to earn a higher return may later consider a time deposit, but they should keep rent, tuition, and emergency money in an account that allows easy withdrawals.

For most newly arrived students, Japan Post Bank is the strongest starting option. Seven Bank is convenient for ATM access, while SBI Shinsei Bank and PRESTIA provide more advanced foreign-currency and savings options for students who meet their residency conditions.

1. Japan Post Bank — Best Overall for New International Students

Japan Post Bank, commonly known as Yucho Bank, is one of the most practical choices for students who have recently arrived in Japan.

Its ordinary deposit account can be used to:

Hold savings in Japanese yen
Receive scholarships or part-time employment income
Withdraw money through Japan Post ATMs
Make domestic transfers
Pay recurring expenses
Access mobile and online banking services

Japan Post Bank has approximately 120 million ordinary deposit accounts and one of Japan’s largest banking networks. This makes it particularly useful for students living outside major city centers.

Foreign students are normally required to present:

Residence card
Registered Japanese address
Student ID or enrollment document
Additional identification when requested

Applicants generally need more than three months remaining on their residence period. Students whose residence status is listed as “Student” must also provide evidence of enrollment.

Why it is a strong choice

Accessible to many recently arrived students
Extensive post-office and ATM network
No Japanese credit history normally required
Suitable for scholarship and salary payments
Multilingual account-opening guidance available

Possible disadvantages

Savings interest may be modest.
Some transfers may be restricted for customers treated as nonresidents.
Incoming international transfers can involve intermediary-bank fees.
Overseas remittances to Japan Post Bank must follow specific currency and routing instructions.

2. Seven Bank — Best for Convenient ATM Access

Seven Bank is a useful savings and everyday banking option for students who regularly use 7-Eleven stores.

Eligible foreign nationals can open an account online or through supported Seven Bank ATMs. The account-opening procedure through an ATM requires a valid residence card, while online applications may require a residence card plus a My Number card or residence certificate.

Why it is suitable for students

Large convenience-store ATM network
Online and ATM application methods
Multilingual instructions
Cash card and eligible debit-card services
Easy access during evenings and weekends
No local credit history generally required for the deposit account

Seven Bank states that foreign nationals may apply when they qualify as residents under Japan’s Foreign Exchange and Foreign Trade Act. Eligibility for debit cards, loans, and international transfers may involve additional conditions.

Possible disadvantages

Students who have lived in Japan for less than six months may need proof of employment for some online procedures.
It offers less face-to-face support than a traditional branch bank.
ATM withdrawal fees may depend on the time and transaction.
Its ordinary deposit account may not provide the highest available savings return.

Seven Bank is best for students who prioritize convenience and frequent ATM access rather than advanced savings products.

3. SBI Shinsei Bank PowerFlex — Best for Established Students

The SBI Shinsei Bank PowerFlex account combines yen savings, domestic transfers, partner ATM access, and foreign-currency services.

It may be attractive to international students who:

Have lived in Japan for more than six months
Work for a qualifying Japanese employer
Want English-language online banking
Need foreign-currency savings
Receive money from overseas

Foreign applicants generally must reside in Japan, have lived there for more than six months or work for a company with an office in Japan, and own a personal Japanese telephone number. Part-time work may not satisfy the employment exception.

PowerFlex customers receive access to partner ATMs, with standard-stage customers currently receiving a limited number of free withdrawals each month. The account also includes at least one free domestic online transfer under the published conditions.

Why it is suitable for savings

English-language services
Yen and foreign-currency deposit products
Online account management
Short-term and fixed-term deposit options
Competitive features for international customers

SBI Shinsei offers foreign-currency savings in multiple currencies, but exchange-rate movements and conversion costs can reduce the yen value of the money.

Important warning

Foreign-currency deposits are not covered by Japanese deposit insurance and can lose value when converted back to yen. They should not be treated as a risk-free alternative to ordinary yen savings.

4. SMBC Trust Bank PRESTIA — Best for Multi-Currency Savings

PRESTIA is designed for internationally connected customers and offers English-language banking, yen savings, foreign-currency deposits, and international transfer services.

Its MultiMoney Yen Savings Deposit:

Has no fixed deposit term
Can be opened with a minimum unit of one yen
Is designed for money management and savings
Does not come with a separate cash card

The cash card is generally linked to the customer’s primary yen savings account rather than the MultiMoney savings balance.

PRESTIA also provides savings deposits in multiple foreign currencies.

Why it may suit international students

Extensive English support
Yen and foreign-currency savings
International banking features
Online and telephone banking
Suitable for students receiving funds in different currencies

Possible disadvantages

Foreign applicants generally must have lived in Japan for at least six months or be employed at an office in Japan. They also need resident registration and sufficient time remaining on their residence card.

An account maintenance fee may apply unless the customer satisfies one of the bank’s fee-waiver conditions. The official MultiMoney product documentation lists a possible monthly maintenance fee of ¥2,200 under the applicable account conditions.

PRESTIA is therefore more suitable for established or well-funded students than for someone who has just arrived.

5. MUFG Bank — Best for Traditional Branch Banking

MUFG is one of Japan’s largest traditional banks and may be suitable for students who prefer physical branches and a major domestic banking network.

Foreign residents usually need to complete the account-opening application at a branch. MUFG states that it verifies the purpose of the account and makes the final approval decision after reviewing the application.

Students treated as nonresidents may face restrictions on internet banking, debit cards, credit cards, and other services. Foreign customers are generally treated as residents after living in Japan for at least six months or when they have qualifying employment in Japan.

Why it may suit students

Large domestic branch network
Traditional in-person support
Ordinary and time-deposit options
Domestic transfers and bill payments
Useful for long-term residents

Possible disadvantages

Account opening can require a branch visit.
Digital applications may not support foreign nationals.
English assistance varies by branch.
New arrivals may face nonresident banking restrictions.

Ordinary Savings vs Time Deposits in Japan

Ordinary deposit account

Choose an ordinary deposit account for:

Emergency savings
Rent and living expenses
Scholarship payments
Part-time salary
Money needed during the semester

It provides easier access but normally pays a variable and relatively modest interest rate.

Time deposit

A time deposit may offer a better rate in exchange for keeping money deposited for a fixed period.

It may be suitable for:

Money not needed during the deposit term
Future tuition payments
Long-term savings
Funds reserved for graduation expenses

PRESTIA, for example, offers yen time deposits with terms ranging from short periods to several years, although minimum deposit requirements apply to some products.

Do not lock up your emergency fund or next month’s rent in a fixed-term account.

What to Compare Before Choosing an Account

International students should compare:

Eligibility immediately after arrival
Residence-card requirements
Monthly maintenance fees
ATM withdrawal charges
Minimum deposit or balance
Current interest rate
Access to mobile and English banking
Domestic transfer fees
Foreign-exchange costs
Deposit-insurance protection

Interest rates can change at any time. Check the official rate page on the day you open or renew a savings or time-deposit product.

Final Recommendation

For most newly arrived international students, Japan Post Bank is the best overall savings-account option because it combines accessibility, a broad ATM network, and procedures designed for foreign students.

Seven Bank is best for students prioritizing convenient ATM access. SBI Shinsei Bank is a strong option after six months in Japan, particularly for English banking and foreign-currency services. PRESTIA is better suited to students with larger balances or regular international transactions, while MUFG is useful for those who prefer traditional branch banking.

Best Savings Accounts for International Students in Japan