Banking in Japan throws up several surprises, from the man hovering by the doorway to assist you in your every movement or the amazing amount of people involved in the simplest of transaction, to the inconvenience of not having 24 hour ATMs (although Citibank is presently breaking that mould) and the complete lack of personal cheque books. However once you have mastered the basic dos and don'ts it is reasonably simple.
For a foreigner to open an account he must produce his alien registration certificate (please see the legal section for information on obtaining one), more commonly known as 'gaijin card', then apply using the official bank application form. It is possible you may be asked to show your passport as well. You will be given the choice of the standard bank account, known as 'futsu yokin' or a more savings orientated time deposit account, known as teiki yokin. The main differences being the level of interest (which is so low not to actually count) and the ease of use. Generally the 'futsu' account is more appropriate initially as it is easier to maintain and simpler to understand.
The Japanese are required to present their 'inkan' or personal seal, rather than signing, when processing the majority of documentation, however as most foreigners do not have one, banks will accept a signature. It is likely they will ask you for a 'ansho bango' or Pin number as security for your account and cash card. You will be required to make a small deposit when opening your account and will then receive your bankbook while you wait. The cash card will take a little longer and will normally be sent to you by registered mail a few days later, or alternatively you may arrange to go into the branch and collect it directly.
Once you have opened your account and have deposited some money in it, it can be used much the same as any other bank account around the world. Due to the lack of personal cheques, a lot of payments will be made by bank transfer 'furikomi', from your account to the receivers account. This can be done reasonably easily from any ATM - a good trick is to try and find a machine with an English language option to guide you through the operation.
Banking hours are from 9am to 3pm Monday to Friday. ATM's are generally open daily from 8:45am to 7pm weekdays with reduced hours at weekends, varying from branch to branch. Recently banks have been opening their ATMs for longer hours, even taking the drastic step of opening them up on public holidays!!!
